How'd You Feel If Your Boss Made $486 For Every Dollar You Make?

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

A big part of what's wrong with America is that so many people believe that if others have what they want then government should step in and reallocate stuff.

America is a land of great opportunity for those who seek opportunity. If, however, you choose to lament the fact that you don't have the same opportunity as others then you will never find those opportunities.

You lefties make me sick. Do you have any idea of how difficult it is to travel around in a luxury corporate jet to meet a client for business? Being forced to stay at five star hotels and then if you're really unlucky your client likes to play golf and now you have to go to a trump golf course just to please the guy. Then it's off to one of the finer restaurants for dinner and drinks hoping to seal the deal. The pressure is tremendous.

I enjoyed the part where mr. dimon was asked about one of his employees being five hundred bucks in the red every month and how he could help to change that? The guy making thirty million a year had no answers.

Lutherf said:

A big part of what's wrong with America is that so many people believe that if others have what they want then government should step in and reallocate stuff.

America is a land of great opportunity for those who seek opportunity. If, however, you choose to lament the fact that you don't have the same opportunity as others then you will never find those opportunities.

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Righto, it's not like rich people pay to get their kids in the finer schools or anything like that, it's those lazy losers who will never amount to anything. All hundred million of those wage slaves, losers.

bongsaway said:

Righto, it's not like rich people pay to get their kids in the finer schools or anything like that, it's those lazy losers who will never amount to anything. All hundred million of those wage slaves, losers.

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I laughed, cause it's true. We do.

But don't hate all rich people. Some are genuinely trying to change the inequalities they've seen around the world.

I'd start working harder, to get the boss's job. Nevermind, I did that and was the boss till I retired.

Life isn't fair, boo hoo hoo.

I love how some people actively encourage rich people to get richer at the expense of their employees. Worship of the Rich is so, so pathetic.

OldFatGuy said:

I'd start working harder, to get the boss's job. Nevermind, I did that and was the boss till I retired.

Life isn't fair, boo hoo hoo.

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Did the boss who's job you got make 486x the amount you made? We're not talking getting promoted from assistant fry cook to fry cook, we're talking CEOs.

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

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Most CEO's don't make that kind of money.
Why do we care what a few people make anyhow? Don't we have our own fish to fry?

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

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My boss, or the owner of the company I work for?

I ask, because I don't have a boss per se. The owner of the company I work for on the other hand. I wouldn't feel that bad that they're making that much more than myself. Because they, as the owner, are taking on all of the risk in running the company.

Kobie said:

I love how some people actively encourage rich people to get richer at the expense of their employees. Worship of the Rich is so, so pathetic.

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Your ancestors came here to get rich. Hoping one day their progeny would get rich. It is pathetic when people deny who they are, and why they are here.

Kobie said:

Did the boss who's job you got make 486x the amount you made? We're not talking getting promoted from assistant fry cook to fry cook, we're talking CEOs.

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I have no idea. I never cared about what the next guy made for a living, only about the living I made.

It's no one's fault other than your own for being a pearl diver. Make stupid insulting comments and they'll come right back at you.

How'd You Feel If Your Boss Made $486 For Every Dollar You Make?

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As long as I'm making what seems a fitting salary for the work I perform in the locale where I perform it, I wouldn't care.

Truly, I haven't ever concerned myself with the fact of someone else earning more than I.

What would piss me off is my employer making money "hand over fist" and not sharing the wealth in an equitably proportionate manner. I wouldn't need the compensation to in cash, but I would need there to be some sort of "parity bump," be it by giving me stock, boosting my benefits, more paid vacation, perqs, or something such that if the firm accords the guys at the C-level and immediately below X% increases, folks two rungs below and lower should get some sort of compensation increase (one or a combination of several) that amounts to X% as well.

Something many income-inequality discussions, particularly those that focus on CEOs' compensation fail to consider is that a huge share of CEOs' compensation is non-cash. A very small number of CEOs actually receive salaries above a few million. In contrast, few "rank and file" employees receive much, if any, non-cash compensation. Don't misunderstand me. I realize that on one level, compensation is compensation; however, for an "apples to apples" comparison, one really can't include things like stock options and other non-cash compensation. Why? Because the employer isn't actually paying it; the firm isn't disbursing cash. The compensation from stock options, for instance, comes from whoever buys the stock the CEO sells.


Full Disclosure:
Save for a brief period at the start of my career, I haven't ever been an employee. I've worked in a firm where some folks earned more than I, but my peers there earned about what I did, and I earned enough to sustain myself, so I didn't care that the folks a couple rungs up made materially more than I.

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

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I'd have a good portion of what banks do outlawed, but this really isn't the problem. How much the CEO makes has no tangible effect on the lives of the employees.

While all businesses should pay a livable wage, expecting all businesses to pay in proportion to their earnings would simply lock a lot of lower skill people out of working for big companies, retarding their potential for upward mobility.

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

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The answer requires to details:
1. How much is my income
2. Can I earn a higher income elsewhere.

How much the boss makes is his concern, not mine.

How the hell did it become the government's job to patronize and support personal envy.

bongsaway said:

You lefties make me sick. Do you have any idea of how difficult it is to travel around in a luxury corporate jet to meet a client for business? Being forced to stay at five star hotels and then if you're really unlucky your client likes to play golf and now you have to go to a trump golf course just to please the guy. Then it's off to one of the finer restaurants for dinner and drinks hoping to seal the deal. The pressure is tremendous.

I enjoyed the part where mr. dimon was asked about one of his employees being five hundred bucks in the red every month and how he could help to change that? The guy making thirty million a year had no answers.

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Red:
I'm sure your sardonicism comes from the heart, so to speak; however, it's clear to me that you really haven't any idea of the nature of pressure concomitant with being a major firm's C-something, division president, or EVP of "this or that."

Consider this:
Am I throwing a "pity party" of sorts for CEOs and other senior corporate execs? Of course, not. I'm saying that while the perqs, so to speak, they enjoy are visible and lavish, there's usually a good reason for them.

For instance, my firm didn't provide me with a corporate jet, but I often enough (not always) flew charter because it meant I could get to where I needed to be when I needed to be there. For instance, when the exec to whom I had to make a sales pitch said he had two hours tomorrow between one and three and that he'd be in Chicago, if that meant, given my extant schedule of other commitments -- commitments with folks every bit as important to my practice as the meeting with the guy in Chicago -- the only way I'd get there during his window was to take a charter, I took a charter flight.

Was the flight/plane cushy? Yes, but the point of being on that plane wasn't the cush; it was to facilitate getting where I needed to be when I needed to be there. Nobody gives a damn how the operator outfits the plane. What people care about is the transportation; cush or no cush, they're still getting on that plane.

Now that's work-related stuff/travel. Personal travel is a different matter.

"How'd You Feel If Your Boss Made $486 For Every Dollar You Make?"

I'd be trying to figure out how I could get that gig.

.

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

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How would you feel if you had $468 dollars in your pocket and a panhandler at the gas station asked you for a dollar because he doesn't even have a dollar? A dollar for food he says.

How would then feel if 9 more panhandlers approached after him, telling you the same thing? And what can a person buy for a dollar? Shouldn't you at give each one at least a $10? That'd still leave you $368 dollars - and how unfair is that to those 10?

Really you should at least give each one a $20. You'd still have $268 and they each would only have a $20 - meaning you have over 1000% more money than any of them.

How much would you give each panhandler? Somehow, I think you view is that they should get the money they need from someone else - definitely not you.

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

Top Bank CEOs Questioned About Their Pay In House Hearing : NPR

The heads of some of the nation's biggest banks faced tough questions from Democrats on Wednesday about overdraft fees, the stability of the banking system and their own multimillion-dollar compensation.

The House Financial Services Committee hearing was titled, "Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 years after the Financial Crisis."

"Ten years ago, the CEOs appeared before this very committee to discuss the financial crisis and the massive bailout taxpayers provided," said committee Chairwoman Maxine Waters, D-Calif. "A decade later, what have they learned? Are they helping their customers and working to benefit the communities they serve? Or are the practices of these banks still causing harm?"

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How would you feel if you were a CEO and you only seen your yearly wages increase by 1% in the last 15 years.
Your managers wages have grown by 14% and your lowly labors wages have increased by 8% over the last 15 years.
How would you feel as the CEO of the company?

OldFatGuy said:

Your ancestors came here to get rich. Hoping one day their progeny would get rich. It is pathetic when people deny who they are, and why they are here.

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You think everyone who came to the US did so purely for financial gain?

Kobie said:

You think everyone who came to the US did so purely for financial gain?

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Of those who came here by choice, most everyone. Inclusive of those seeking religious freedom, political freedom, and so forth. The Puritans came seeking land, for land in Europe meant wealth and power. Those with power could pray as they believed until someone with more wealth and power said no. The intended destination for the Puritans was NY Harbor, on their way to promised lands in Virginia and Pennsylvania. The landed at Plymouth rock because they ran out of beer. The land was free, they stayed, started making lots of babies, lusty people that they were, and rest is history. The families of the Mayflower today are among the very rich.

Jews who ran from the pograms of eastern Europe and Russia, came here seeking not only religious freedom but freedom to make a living, to gain wealth. And so on and on for every group that arrived. Some succeeded some didn't. Look at the Irish who fled famine and political oppression. Many found a living, and future generations found the wealth of the middle class, something that eluded the starving Irish under the hands of the English oppressors.

The ancient Norse who travelled here sought new fertile lands. Columbus was seeking a quicker route to the spices (wealth) of the east, and the Conquistadors who followed sought gold. The vision for European immigrants of America was wealth, as it was for Asians and all others who followed.

You obviously assume that other objectives excluded the desire for wealth. Nothing could be further from the truth. Not even for those who suffered and fled the depredations of Europe's endless wars and the suffering thereof because their ethnic groups had beens scapegoated. Wealth meant a future for subsequent generations and for most it proved out. Our poorest still live better than the nobility of Europe did during most of European history. Some don't, but the onus of failure is their own. Whether by drugs, alcohol, stupidity, laziness, luck of the draw, whatever, but the hope of their progenitors was always wealth and all that wealth carried with it.

Look in the mirror, you're fat, sassy, own a computer and have time for wasting on the net. A luxury not even imagined by those who came before you. Likely you own a car, have a warm place to sleep nights that isn't a pigsty, and can buy multiple sets of underwear. You have access to healthcare. That is wealth at work. Not mega wealth, but rich in the eyes of your ancestors.

Fascinating seeing in EVERY SINGLE thread about workers, the rich, workers rights, workers safety, minimum wage, wage inequality the Cons ALWAYS take the side of the Rich/Corps/CEO's...

I'm older than dirt and use to be a Republican and I never, EVER thought I'd see the Middle Class Republicans and the GOP, who use to be the party of the working class, bend over for the rich..

Not only do the rich vote for their own interests, they pay millions for it

Too bad the Working Class Conservative Republicans don't look out for THEIR own interests. Instead they take the advice and listen to the opinions of millionaires on Fox tell them what to do and what to think..

Media_Truth said:

A big part of what's wrong with America. Does anybody believe that these CEOs work 150-500 times harder than their employees?

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I dont care if they do or dont. Its their business and they can pay them what they want.

How'd You Feel If Your Boss Made $486 For Every Dollar You Make?

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If its being done legally, I dont care.....envy was never my strong suit.

PirateMk1 said:

Most CEO's don't make that kind of money.
Why do we care what a few people make anyhow? Don't we have our own fish to fry?

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Here's how much CEO pay has increased compared to yours over the years


According to a report from the Economic Policy Institute, the average CEO pay is 271 times the nearly $58,000 annual average pay of the typical American worker.

$15.6 million per year on average. Don't get me wrong. Everyone is entitled to make what they will get paid. But this is a new phenomena the last few decades. It didn't used to be this way. I know this because my father was the CFO of a Fortune 50 company, and his pay, while very high for the time, was nothing like this when he retired in 1980.