People aren't paid for how hard they work, they are paid for the value they produce. Do CEO's produce 350 times the value of other employees? Also probably not.
this post was submitted on 27 Sep 2023
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It's not even just the value they produce, but more how difficult they are to replace. That's why so many "unskilled" jobs pay so poorly; there's no real need for retention, they can just find someone else.
I think this is saying the same thing. Being difficult to replace raises the value of your labor, being easy to replace lowers the value of your labor.
for reference that'd be taking a three minute break after working for 4 months without eating, sleeping or even pausing, and then working another 4 months without moving from your chair.
I wouldnt have a problem if a ceo that worked 40% more and was good at leadership earned 10 or even 20 times of what a worker earns. But 360 is just absurd. And isnt that just the average?
In my opinion salary difference should always be a thing, but it should be balanced by the risk of the investment from the CEOs. Nowadays too many companies are bailed out by the government, so basically there's no risk of running the business and huge salary for the top management. That's an issue.
Should pay be related to what percentage of your net worth you risk? $1000 is a very different amount of risk for different people.
The excuse is generally not that they work harder but that their experience and skill makes them somehow difficult to find.
But again even if they have very specific experience and skills these salaries are absolutely bullshit.
It's not like 1 in a million person can handle a CEO job. It's obviously not true.
I really think we should all have laws that set the maximum gap between salaries in a business. That way CEO can still bullshit people about insane salaries but at least they will have to pull up everybody in the business.
Let's instrument the CEO greed so that they are forced to pay everybody below them before they can get a raise.