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

[gdgyva]

Except they get bonuses and golden parachute severance packages even when they screw up.

So how "responsible" are they in reality. If I **** up bad enough I'll be terminated for cause. Lead parachute.

Thief jobs are more complex. But I've seen what they do working with them. Its not 500 times more complex than say an auto mechanic with all the ASE certifications. I'm sorry, but it simply isn't. It is a basic set of skills and a head for complexity and a network of people they know. Luck, drive, ruthlessness, vision, charisma, etc. Is the difference between the mechanic and the CEO.

Many jobs have higher stress levels, like flight controllers, for instance. Cops and firemen.

The godlike prowess of the multimillion a year CEO is just PR.

are you kidding....comparing a master ASE tech with a CEO of a company is just plain ludicrous

as a guy who worked in the auto industry for 35 years, with the last 12 as a CFO, i think i have a handle on this

master techs have a complicated job...sure...and i have had great ones working for me who could diagnose and fix anything thrown at them (and they were paid very well for it)

but to compare that to a CEO position....do you even have an iota of what a CEO does on a daily basis in a company?

Depending on the size of the company it varies, but for ours, he was in the office at 6am M-F checking emails, looking at previous days sales, checking out any HR matters, and getting ready for any meetings he had

by 8am, the meetings start.....depending on day of week....advertising, legal, accounting, sales, parts & service

those are finished by 930am....then he has one on ones with employees either with issues, or that he is tracking for promotion/demotion/firing (usually just a few people, 20 mins or so)

by 10am, he is managing by walking around.....greeting customers, talking to staff, checking with employees on the floor about issues, etc

at noon, he meets with key people 3x a week, including me on number crunching...are we meeting targets?

1-4pm he has all the meetings scheduled with bankers, other executives, insurance, manufacturers, etc

4pm....does one last walk through making sure the everything is ok....and signs out for day

that was my boss, and he did it on a LOT of saturdays also

not every CEO rides around in airplanes, hobnobbing with elites

most are hardworking guys providing a great company to grow and work at

 

[gdgyva]

Nah, just a sad dystopia. I also included "collapse".

But you didn't answer my question.

probably because i didnt know the answer

not afraid to say i dont know something

 

[ElChupacabra]

The minds of the employees should be devoted to making themselves valuable to their employer to justify more income, if that is their goal, and/or to qualify themselves for a higher paying position in the company or with another company. If the employees devote themselves to resentment re what the CEO earns, they are far likely to spend their lives in resentment instead of accomplishing their personal goals.

I think this leaves out the employees who also care about the health of the company for which they work. Support for a CEOs compensation has more to do with how that leader's actions are affecting their ability to do their jobs. I bet that most employees aren't worried about CEO compensation if they feel like their working conditions and work loads aren't being hampered by a CEOs actions. The workforce has become more dynamic; so you don't have people who just sit at their desks and are only interested in their paychecks.

It is an extremely rare business from the smallest hot dog stand to the mom and pop dry cleaning store to medium size manufacturing plant to the largest corporations in the world that are in business as welfare organizations. And all rarely pay their employees more than the employees earn for the business plus a reasonable profit for the owners.

That's a very subjective assessment. Given the pay disparity between leaders and employees, one can argue it's a bit more than just "reasonable". As I stated above, the resentment often comes into play when the executives are raking in the dough while their employees are fed the "do more with less" while the leaders are not doing the same.

The boss owes me no more than avoidance of negligence that would affect my physical well being and otherwise only what he contracted with me to provide in the way of wages, etc. I owe the boss an honest day's work for the wages I agreed to work for. I can choose to merit only the wages I agreed to work for, or I can choose to make myself more valuable to my employer and thereby merit more wages. Or if there is no opportunity to improve my situation, then I will eventually move on to something better. I have done that numerous times over my lifetime. The employee who does just enough to keep from being fired probably won't enjoy as much monetary success as the employee who actively makes himself more valuable to the employer.

This is another area which depends on a variety of factors; people being the key. Whether your boss acknowledges your efforts determines how much sense it makes to put in more than what's expected. You could easily end up with a boss who expects a lot from you but doesn't think of it as "extra". I've been in the former situation, and what it taught me was it's a great way to demotivate people and push them to leave. I've never felt any company owes me more than a paycheck and the means to perform my duties efficiently, but the work place is evolving. People are more invested in creating positive environments because what's key to productivity is people feeling good about where they work. The whole "just be happy you have a job" doesn't bring about the inspiration companies are looking for.

 

[ElChupacabra]

Just like super stars in Hollywood or the music industry or the sports world merit multi-million dollar salaries, so do the rare group of men and women who have the intuition, experience, ability, and talent to run large corporations effectively and profitably. And they can command very good incomes.

"Effectively and profitably" don't always go hand in hand. My previous employer had a CEO which focused mainly on the bottom line for shareholders and as a result spent a lot on stock buy backs to raise the price of its stock price. This was nice for shareholders, but in the meantime little was done to remain competitive in a continually changing media environment. Instead of putting money into content creation and distribution, money was spent on nice dividends for those who aren't in the trenches creating content to keep the company as a top tier content creator. When he was finally ousted, he left with a nice golden parachute and a company which started to lay off its talent.

Right or wrong, it is not the merit of their work that necessarily qualifies them for those big salaries, but the rarity of people who can qualify for it. We might think it immoral that a rock star makes mega millions by doing nothing other than entertaining us while a person who risks his life to save others earns a very modest living. Maybe it is. But for every person with the talent to become a rock star, there are many thousands who can qualify for the job that saves lives. And the principle of supply and demand kicks in.

It's all about the value added to an organization which helps determine a CEOs worth (actually, or potentially). Leaders at this level will have a specific skillset they've mastered over the course of their career; if it's an area which a company assesses it needs then it will find a person with those qualifications. Sometimes it may be they need a master negotiator, or they need a more people-oriented leader to help build company morale. Their "worth" is based on that demand and the value that company places on those skills.

Very few employees know or understand what the CEO does to merit the salary he/she receives. But whatever it is, if I am working for that corporation, what the CEO does is making it possible for me to earn a living. And what he/she gets paid is none of my business.[/QUOTE]

 

[SDET]

Is the above your response to my question: "I take it you aren't part of the management hierarchy?"

I must ask because your remarks above are abstract; nowhere do you state any of what you wrote pertains to you. I just wanted to know whether you're part of the management hierarchy where you work. "Yes, I am" or "no, I'm not" is quite sufficient an answer.

Just as I don't expect folks will applaud or assail my career, I have nothing complimentary or castigatory to say about specific individuals' careers/jobs. (Except my kids, but I know you aren't one of them.) I may chide you (or others) over all sorts of stuff, but one's job choices aren't among those things.


Even before you posted the above remarks, I was aware of the pros and cons of being part (or not) of the management hierarchy in whatever organization one works.

This my simple response: Hell, no.

 

[Xelor]

This my simple response: Hell, no.

Thank you.

 

[Buzz62]

Apparently they've figured out that there are seven billion people in the world to sell to. Only gotta get a dollar from each once a year and that's seven billion dollars.

Then I would say...tariff the hell out of the products of any corporation who follows such a practice.

 

[buck]

are you kidding....comparing a master ASE tech with a CEO of a company is just plain ludicrous

as a guy who worked in the auto industry for 35 years, with the last 12 as a CFO, i think i have a handle on this

master techs have a complicated job...sure...and i have had great ones working for me who could diagnose and fix anything thrown at them (and they were paid very well for it)

but to compare that to a CEO position....do you even have an iota of what a CEO does on a daily basis in a company?

Depending on the size of the company it varies, but for ours, he was in the office at 6am M-F checking emails, looking at previous days sales, checking out any HR matters, and getting ready for any meetings he had

by 8am, the meetings start.....depending on day of week....advertising, legal, accounting, sales, parts & service

those are finished by 930am....then he has one on ones with employees either with issues, or that he is tracking for promotion/demotion/firing (usually just a few people, 20 mins or so)

by 10am, he is managing by walking around.....greeting customers, talking to staff, checking with employees on the floor about issues, etc

at noon, he meets with key people 3x a week, including me on number crunching...are we meeting targets?

1-4pm he has all the meetings scheduled with bankers, other executives, insurance, manufacturers, etc

4pm....does one last walk through making sure the everything is ok....and signs out for day

that was my boss, and he did it on a LOT of saturdays also

not every CEO rides around in airplanes, hobnobbing with elites

most are hardworking guys providing a great company to grow and work at

I suspect a lot of these types believe that the CEO has a life of leisure and don't understand what the job entails.

The talent that a CEO has is far more rare than the talent an ASE certified mechanic has. It's simply going to be far more valuable.

 

[Individual]

As long as I was being paid what I agreed to be paid for my work, I had no complaint about what others were paid. In addition, I invested in the company I worked for and that has paid off far more than social security.

 

[jonny5]

Did you write a similar reply to the poster I was replying to who said Capitalism makes people happy?

I didn't think so..

I didnt say it makes people happy. I said its better at helping people ACHIEVE happiness.

 

[jonny5]

The amassing of great fortunes historically has come at the expense of the happiness of others, generally.

Capitalism isnt about amassing great fortunes.

 

[What if...?]

OK that's very nice...and maybe you need to get out and exercise more...

I get quite a bit of exercise, physical and mental.

This is a subject I have studied from several angles. History, anthropology, evolutionary psychology and biology.

Nothing in my post is a secret. No hoodoo, no mystical thinking I am happy to have people try to poke holes in it, but the more I look at our world through this "lens" the more it is verified.

 

[What if...?]

same as the computer....my office staff in 1985 went from 23 to about 12 3 years later....why?

computers loaded with lotus123....spreadsheets

productivity rose, and less people were needed....all because owners and managers INVESTED in technology

the people we had made more, because they had to learn additional skills

but not enough to compensate for all the slots lost....so profit went UP

that happened all over the USA.....why would the worker deserve anymore of those profits other than his/her skillset added?

So the right cries foul when a foreign person comes here illegally because it takes an American job. They are villains. (They don't like to talk about employers).

But when a businessman gives your job to a foreigner, which takes away an American job too, he's a savvy fellow.

There isn't much internal consistency there.

 

[What if...?]

What? Once more, in English please.

OK, try it this way:

Why do billionaires try to get more billions by any means necessary? Why work so hard when you don't need to work at all anymore?

Basic biology. The member of any species with the best access to resources is the most likely to reproduce. In social species, status in the group confers better access to resources. Behaviors associated with gaining access to resources are rewarded with pleasurable neurochemicals. These chemicals are addictive. It is how instincts manifest. A cat chases a string because it feels good. It feels good because it hones his skills and improves his chances of reproducing.

So those billionaires are seeking higher status, trying to get ahead of the guy above them on the ladder while holding off the guy below them. They are jealous of those whose status is higher. And the guy below is jealous of them.

 

[Mason66]

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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Why is it your business what your boss makes?

Another question is, are you upset the janitor at your work makes less than you do?

 

[Mason66]

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.

Why would the boss have an answer as to why an employee spends more than they make each month?

Should the employee have to clear any and every expense in his household with his boss?

 

[Mason66]

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.

You think money is taken away from other employees to pay the boss?

 

[What if...?]

are you kidding....comparing a master ASE tech with a CEO of a company is just plain ludicrous

as a guy who worked in the auto industry for 35 years, with the last 12 as a CFO, i think i have a handle on this

master techs have a complicated job...sure...and i have had great ones working for me who could diagnose and fix anything thrown at them (and they were paid very well for it)

but to compare that to a CEO position....do you even have an iota of what a CEO does on a daily basis in a company?

Depending on the size of the company it varies, but for ours, he was in the office at 6am M-F checking emails, looking at previous days sales, checking out any HR matters, and getting ready for any meetings he had

by 8am, the meetings start.....depending on day of week....advertising, legal, accounting, sales, parts & service

those are finished by 930am....then he has one on ones with employees either with issues, or that he is tracking for promotion/demotion/firing (usually just a few people, 20 mins or so)

by 10am, he is managing by walking around.....greeting customers, talking to staff, checking with employees on the floor about issues, etc

at noon, he meets with key people 3x a week, including me on number crunching...are we meeting targets?

1-4pm he has all the meetings scheduled with bankers, other executives, insurance, manufacturers, etc

4pm....does one last walk through making sure the everything is ok....and signs out for day

that was my boss, and he did it on a LOT of saturdays also

not every CEO rides around in airplanes, hobnobbing with elites

most are hardworking guys providing a great company to grow and work at

Again you aren't addressing my point. I did not say a CEO job is equal to a fully certified mechanic.

What I said was the CEO's job isn't 500 times more difficult or complicated than that mechanic's job. I would argue it isn't a hundred times, considering the constant training the mechanic needs to do to keep current with technology.

 

[What if...?]

probably because i didnt know the answer

not afraid to say i dont know something

Yet you were quite dismissive of my point anyway.

 

[Fledermaus]

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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As long as my labor nets me what I want monitarily I don't care what someone else makes.

 

[What if...?]

Then I would say...tariff the hell out of the products of any corporation who follows such a practice.

They invest a lot of money in politicians to make sure that won't happen.

PR people too, to keep us quiet.

 

[What if...?]

Capitalism isnt about amassing great fortunes.

Its right in the name.

 

[Fledermaus]

Again you aren't addressing my point. I did not say a CEO job is equal to a fully certified mechanic.

What I said was the CEO's job isn't 500 times more difficult or complicated than that mechanic's job. I would argue it isn't a hundred times, considering the constant training the mechanic needs to do to keep current with technology.

A CEO's decision making likely has 500 times more of an impact on the success for the entire company.

 

[What if...?]

Why is it your business what your boss makes?

Another question is, are you upset the janitor at your work makes less than you do?

Depends if he works full time and still needs foodstamps.

If that is the case then yes, it does upset me.

 

[What if...?]

You think money is taken away from other employees to pay the boss?

When they send those employees jobs overseas? The savings ends up in part as bonuses for the executives that improved the bottom line. Same with downsizing in a downturn and then making the remaining employees pick up the extra load when business picks up instead of re-hiring.