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CEO raises minimum wage to $70000, takes $70000 wage himself until profits are met.

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Howard said:
And it's important to note that this is just his salary taken from the companies profits. He's most likely still getting a nice return on his shares in the company, and what ever investments he's making. Simply put, $70k is the minimum he'll be making this year. Still cool of him, hopefully he can continue to do this without cutting his number of employees.
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I was thinking of this too. If this makes his company super profitable because of increased productivity, he stands to make a ton of money, and likely will even if revenue remains the same.
 
Siro said:
I don't know. Current employees have the most relevant experience, which is one of the main qualifications employers look at. It also costs a lot of money to hire someone new. There is also the question of bad publicity for someone who's clearly looking for good publicity. It isn't as simple as that.

Also, is that an Arabic name?
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Replacement by attrition.
 
Howard said:
And it's important to note that this is just his salary taken from the companies profits. He's most likely still getting a nice return on his shares in the company, and what ever investments he's making. Simply put, $70k is the minimum he'll be making this year. Still cool of him, hopefully he can continue to do this without cutting his number of employees.
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Jeff Bezos set his official salary at 80k at the beginning of Amazon. If course he's a billionaire. But he doesn't take more than the stock gives him.
 
His 70k salary was a gimmick. Yay for him for taking that salary.

I don't have any idea what the average salary was before, but it ain't hard to live off 70K. So if it was a big increase then that's awesome and it definitely makes a real world difference for the people making the higher salary.

It should be the salary he gives his employees that we care the most about. If he pays his employees well I don;t care how much he makes. Let him be a billionaire. It doesn't hurt anyone.
 
Gameface said:
His 70k salary was a gimmick. Yay for him for taking that salary.

I don't have any idea what the average salary was before, but it ain't hard to live off 70K. So if it was a big increase then that's awesome and it definitely makes a real world difference for the people making the higher salary.

It should be the salary he gives his employees that we care the most about. If he pays his employees well I don;t care how much he makes. Let him be a billionaire. It doesn't hurt anyone.
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What I was trying to say in my previous post..
Salary can be very deceiving. There is profit-sharing, stock options, parachutes, etc.. That are typically all worth far more than even the more inflated salary.
I have no salary at all. Shall we take up an offering for me?
 
Dr. Jones said:
What I was trying to say in my previous post..
Salary can be very deceiving. There is profit-sharing, stock options, parachutes, etc.. That are typically all worth far more than even the more inflated salary.
I have no salary at all. Shall we take up an offering for me?
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All true, I just like that the minimum for their company is 70k, that goes a long way for the normal employee/family.
 
Dr. Jones said:
What I was trying to say in my previous post..
Salary can be very deceiving. There is profit-sharing, stock options, parachutes, etc.. That are typically all worth far more than even the more inflated salary.
I have no salary at all. Shall we take up an offering for me?
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Don't really know how companies work-- are these bonuses distributed extremely unevenly towards the high-responsibility end of corporate management?


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dalamon said:
Don't really know how companies work-- are these bonuses distributed extremely unevenly towards the high-responsibility end of corporate management?


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Yes.
The top paid CEO's in America derive their total income from salary at about 15%.
 
dalamon said:
Should that change in your opinion?


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Great question.
I like the idea that top execs get paid on profits/performance more so than a salary. However, there is often times a lack of oversight and balance. Too many stories of guys making mega millions while ruining a company, stock prices plummeting, etc.. All the while controlling the BOD and voting in their own pay structures in a spiraling financial mess.

So, in short, I don't think the pay philosophy is poor, but the rules, restrictions, and governance needs retooling. Which can only be done by a more savvy group of shareholders demanding these things from their BoD.
 
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