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https://www.youtube.com/watch?v=1KR-UMn3p7E
I think this is great. When I came to the company that I manage now, I increased minimum pay almost 100%. (I also increased workload by a ton, but I kind of gloss over that...)
More qualified applicants will apply for the jobs and the current type of employee that works there now, instead of having a $40k job, will be out of a job.
You're not running a charity. You wanted better productivity, so you increased wages. I wish all companies operated that way.
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.
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?
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.
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.
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?
All true, I just like that the minimum for their company is 70k, that goes a long way for the normal employee/family.