Nickname said:
Bitey said:
However when you have the board and CEO of a company making 600% more than their employees that tells me that they are probably paying their employees about 10/hr.
That would mean the CEO makes 70/hr * 40 hr/wk * 52 wk/yr = 145600/yr, which is actually very modest for a CEO.
Just throwing this out, Jamarcus Russell made $39 million for being a crappy NFL QB and getting cut after 3 seasons. It would take said hypothetical CEO over 300 years to make that much money on his hypothetical salary.
I realize that I am in the completely wrong thread and sorry for screwing up the OP, but I had to get this off my chest.
Why is it OK for the CEO to make 600% more than the employee? Why is that necessary?
Also now multiply that by every employee they have, then you have the right number. Not to mention the bonuses and freeby things that CEOs get for being….. a CEO…. again the whole idea that they deserve something better? I just don’t get it.
Here is an average CEOs pay for 2009 :
Salary $1,041,012
Bonus $203,714
Stock Awards $2,630,574
Option Awards $2,284,595
Non-Equity Incentive Plan Compensation $1,790,703
Pension and Deferred Compensation Earnings $1,060,867
All Other Compensation $235,232
Total $9,246,697
It looks like the average percentage came down in 2008 and is hanging out around 319, not sure what it is today or was in 2009.
It is stuff like this:
The average CEO pay in North Carolina is $ 3,679,332.
The average annual income of all occupations in North Carolina in 2008 was $ 38,230.
The unemployment rate at the end of March in North Carolina was 11.1%.
If you down cut a CEO making about that much money so they make $1,500,000 instead, you just opened up about 55 more jobs for people making $38,000, I mean my God! Imagine what that would do for the economy and unemployment rate.
If you can justify for me why one man ever deserves to sit at the top and make that much money I will shut up. As far as I can tell though we have a country of kings and peasants, I thought we left the monarchy… Instead now we just have hundreds of little kingdoms for singular men/women.
Statistics come from : http://www.aflcio.org/corporatewatch/paywatch/pay/index.cfm