CEOs need to take pay cuts. They earn too much and don’t provide enough value for their pay.
The rise in CEO wages is actually unbelievably ridiculous:
For context, this research paper was also pre-pandemic.
On average, CEO salaries jumped about 30% since this research was released. Here is an updated article by the EPI EPI Research
Also for context - on 1965, average CEO-to-worker salary ratio was 20:1, and in 1985 it was 59:1.
Not it’s almost 400:1.
Thanks for the updated numbers!
The wrong Farley died in 1997.
What’s a perfect day for you? Waiting in line for your government cheese?
Laughs in 20k a year.
Hope the cost of living helps offset that… what company has been stealing your labor from you?
Big Lots, worst pay to effort ratio of anywhere I’ve ever worked. Working harder than I ever have for less than I ever have until I find something else.
That sucks smelly ass, sorry to hear that, maybe try and organize once you have another job lined up? I’ll never forget working the morning shift at hardes, literally the most stressful job I have ever had, for the least pay I have ever made. I got a job at a factory and made twice the salary, but did a quarter of the work, and I had to hear the people I work with denigrate fastfood workers wanting to raise the minimum wage to $10 an hour, cause they thought they worked so much harder and only made $12 an hour. They pit us against eachother while eating caviar from fishes that are going extinct because they are actively poisoning every aspect of our society and our world simultaneously and living in opulence that make the Kings of old look modest. Shits gotta give…
What part of the country are you in?
Indiana.
Darn. I don’t have any contacts there.
But if you’ve got a clean criminal record look into city jobs. The pay isn’t usually amazing (better than yours though), but the benefits are usually really, really good.
Even in Texas I have never had to pay premiums on medical, dental, and vision for a government job, and my last 2 cities have provided 2:1 matching on my retirement plan at 7% (so I have 21% going towards pension). The guys mowing the parks get the same benefits.
I work in an IT call center and only make 25k. It’s a nightmarish routine of answering calls from customers who don’t believe in your basic right to be respected, answering to employers who believe the same.
Why are these posts specifically aimed at car company CEOs?
Are they begging for money in Congress again ?
Is this an anticar thing ?
Are they in union négociations ?
To add this for posterity, there is an additional component to the U.S. autoworkers union striking. In 2008 during the global financial crisis (with things like robosigning foreclosures, predatory loans with ballooning interest rates, etc.), some U.S. automakers were asking for government bailouts, which eventually were granted. These bailouts were entirely taxpayer funded. Now the automakers are refusing to meet union contract negotiations. Automakers not paying employees cost-of-living, or frankly, just salary increases is upsetting, but the additional hypocrisy of U.S. tax-paying citizens bailing out these companies with their own money in 2008, and then not having the companies return some of the wealth in 2023 is enraging.
Edit:
Forgot to add that when the automakers were begging for government bailouts, the automakers had to take away worker pensions and some benefits to “protect the system”. In 2023, the U.S. autoworkers union is fighting to get those benefits back for the workers.
It seems obvious the government is siding with the owners.
Because this is the trending politics community. I meant it says so right th…oh … “memes”? That’s the same thing, right?
Memes are memes
What ever happened to making memes just to make someone smile for a moment and not a means to publicize an agenda? We get it, you’re a liberal who hates capitalism. Enough already…
When a person that named themselves “antitrust” is upset about spotlighting union grievances…
When someone doesn’t know what a burner with a randomly generated name is and completely disregards my comment all together 😆
Man you must really hate jokes.
No, I just enjoy seeing something other than the same stupid, 1-sided shit day in and day out.
Pointing out a blatant flaw does not inherently mean you hate capitalism. But that being your immediate reaction sure is telling.
Fair point. You can’t also deny that places like this 1) aren’t overly political and 2) are so far left you never hear from the other side.
I do not see others laughing. This isn’t exactly funny. How is a CEO getting paid much more than the average worker supposed to make me laugh? This more of a news article snippet than a meme
Since when were memes exclusively meant to make you laugh? Memes have always been a means of societal commentary, think Rage Comics and AdviceAnimals plenty of the most famous ones talk about very real issues.
The “meme” is not exclusive to me. What made you have that idea?
Even something as simple as the “This is fine” meme could be considered “not funny” in the same way this meme is “not funny” depending on how it’s used.
(You might’ve mistaken me for the other guy. I’m agreeing with you.)
I am laughing. Because what else can you do, seeing the hell we were born into and will probably stay the same for the rest of our lives. Nothing is going to change and if you weren’t born on top, you’re never going to come out on top. No matter what you tell yourself.
Glad I’m not the only one…
The American autoworkers union is currently striking due to stalled contract negotiations.
I’d guess it’s because of the automotive union strikes that are going on in the US right now?
Read “Bullshit Jobs” by David Graeber guys. It’s really worth it!
Companies should just do a rotational CEO from their pool of workers and give the position a nice 20% salary bump for the term of the position.
Yeah that would work great!
Does a bit of constant chaos seems worse than the existential failure of the system every 13 years like we enjoy today?
I thought he looked a lot like Chris Farley!
Tommy Boy is literally based on this loser fucking prick.
Source: Jim Farley
Here’s a little FYI for ya. Tropic Thunder is based on my experiences in Vietnam.
I wonder if there was family drama when Tommy Boy came out:
“You can’t make a movie where the bad guy is an evil capitalist who doesn’t care about the auto-workers. That’s a direct attack on your cousin!”
Looks like while all of Chris’s brothers got in to comedy his cousin Jim decided to become a laughing stock of a person instead. You did it all wrong, Jimbo.
Maybe he never watched Tommy Boy.
Mfs nickname is from the movie…
Maybe he’s like those guys who listen to fortunate son and think it’s glorifying war?
MFs life is literally the plot of the movie Tommy Boy. In the movie, Tommy’s father is an industrialist who owns Callahan Auto.
Here’s an article about it. Kind of makes you like the movie less because it’s glorifying this fucking prick.
Kinda makes you think if Farley had lived, we probably wouldn’t like him so much, either. We didn’t have time to learn how big of a pile of shit he was thanks to his family.
Helluva presumption to just pull out of your ass about someone whose only relation to this matter is family name.
I don’t fucking live vicariously through rich celebrity twats. In my experience, most of them are absolute shitheads, and when they wrote the movie to glorify *checks notes… the guy who is referenced here for being a selfish cunt who doesn’t want to pay his employees worth a damn, maybe, just maybe it means they view his assholery as quite OK.
Sorry that I’ve known enough rich families with asshats like that in them that I know they support those people. Especially if they take the time to write a whole god damned movie loosely based on them. Give me a fucking break, people in this country are way too ready to defend celebrities, and by extension their provably shitty families.
Just broke my brain a little bit, that crazy!
Holy shit, they’re cousins!?
He should live in a van down by the river.
Well yeah? If his workers make 66k how is he going to make 23 mil this year?
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No one should earn that kind of money period.
Total revolution needed. Workers that do the real thing barely can feed their mouth, while those useless management ceo got huge cut
As an MBA, I will simply state that you all do not understand capitalism. A CEO is kind of like a sports star. They make what they make because they are making all the hard shots and keeping the team afloat. They are like the captain and coach of the team in one. It takes many years to curate the skills required to be a good CEO and there are only so many people good enough in each industry to take on the challenge. 21M is modest compared to Ford’s profits. If they provided less, he would simply move to a competitor in the same way that sports stars shop around. The idea that everyone in the company should have their salaries compared in terms of orders of magnitude of the CEO is insane. It’s like attempting to say that the janitor at a doctor’s office should have to make tens of thousands above the going rate of what a janitor’s output is worth on the open market simply because the star of the business is able to bring in a lot of money. In general, the idea that the CEO doesn’t work as hard as the line workers is incorrect. They CEO meets all day with direct reports and investors and steers the ship.
Why do you think having a MBA matters? It’s a weird circlejerk for losers.
A Master of Business Administration (MBA; also Master in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy. It originated in the United States in the early 20th century when the country industrialized and companies sought scientific management.
You seek to write-off in one stroke what has been built-upon over many centuries and siphoned into scientific disciplines. You suffer from Dunning-Kruger.
If this is the takeaway from your MBA, you fell for the propaganda
If this isn’t sarcasm, have fun steering a ship with no crew.
The market will dictate your worth. Have fun asking for too much money and not getting it.
Nothing lasts forever.
Not even capitalism.
You say the market will decide my worth. The people will decide yours
I feel like it would be more fun to respond to you with songs from my favorite albums. It doesn’t really answer a question since you didn’t have one.
You say the merket will decide my worth. The people will decide yours!
The market will dictate your worth.
Speak for yourself. I’m priceless.
Is this sarcasm?
No. You live in a capitalist economy. This is how that system works. Market movers make money. CEO’s are the company’s superstars.
“Market movers make money” by shipping jobs over seas and busting unions. That’s the part of the CEO’s job description. They work hard at it alright, but a guillotine works harder.
So the government should incentivize keeping jobs local. If you aren’t exploiting all available options, then your competitors are.
There should be sanctions on greed. It should be illegal. The amount of death and destruction it causes is insane and yet the greedy just reward themselves for it.
You are absolutely delusional, and frankly, unless you are a million/billionaire, then you have been brainwashed into thinking you are important. (Not that billionaires are important. Just that thry have fooled you into thinking you matter more than anyone else.
You can carry on believing that you dont need every cog in a machine to make it work, but it won’t make you right.
What i find so funny is that you dont se to realise that if every ceo got thanos snapped out of existance, most of the machines would continue to run for quite some time and would likely self repair that one tiny ceo shaped hole. Bit if the same happened to the underpaid workforce, the machine grinds to a halt instantly.
Im reminded of a joke where an FBI agent visits a farm and needs access to a certain field. He goes to the farmers’ house, says he needs access, and the farmwr says no. The agent shows his badge and statea he is a federal agent and that this badge means he can go where he wants, when he wants.
The farmer laughs and says ok.
Later, the farmer heres shouting and screaming outside and sees the agent running from an enormous bull in that very field. He hurridly opens the door and shouts QUICK QUICK SHOW HIM YOUR BADGE!!!
Well i hope your importance is enough to save ypu when the workforce have had enough.
I’m not saying that you need every employee to make a company run. There is a lot of waste. I’m just trying to help you understand how CEO’s work. The don’t necessarily keep their job either. The board can remove then if they aren’t making the company money. Sure, I’d like to get paid more than my quarter million or so. It really isn’t enough, but I’m working my ass off to get to the top of my ladder. It’s not necessarily the CEO at my current company, but it could be close to it somewhere else. You just don’t want to play the game. If you want a good listen, my favorite albums of all times are The Kinks - Preservation: Act 1&2. It’s a great social commentary on workers rights and getting manipulated for profit. The answer is somewhere in the middle where commerce is regulated appropriately, but not by throwing the baby out with the bath water and eating the rich. If you go too far social left, you end up in the territory of a restrictive regime. It’s confusing how that works. There are plenty of terrible governments in history that swung the socialist banner.
Salaries should by law be capped at max 10 times the lowest
Careful, you might be starting to make too much sense!
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Then they’d just get two jobs at the same company, and get two salaries or some other loophole the lawmakers planned for the whole time.
Then you close that loophole too as soon as you find it
Preferable to 319 jobs I’d say.
You people see the fuckery, shrug your shoulders and say “eh - just let them get away with it”.
Fuck that, and fuck them - don’t be conned into emptying your pockets to spare them the trouble of robbing you.
I’m not saying we let them get away with it. I’m saying we bleed them in town square as an example of where greed gets them.
Doesn’t Japan have a system like that? The difference in the lowest and highest paid employee can only be so many thousands different?
Yep, my friend works in a Japanese company and his CEO only makes 3x his salary.
It’s unfortunate that it also requires you to live within shooting range of North Korea and China. Because Japan is a nice vacation spot.
The rest of us live in shooting range of Russia or the US. It’s not a question of if we will die, it’s a question of when.
Don’t forget appallingly long working hours.
Oh, and don’t be not Japanese
That also, I’ve never received so many stares. Like I was a vampire from Twilight, sparkling in the sun, or had a huge booger in my nose.
I’m 6’-4, imagine the stares.
Is it law though?
Or is it something else?
Anyone curious there’s approximately 177k Ford employees, and 21m divides to a little over 117k a person.
The union is asking for a 40% raise over 4-5 years. So 40% total spread across 4-5 years. Average wages are 100k (60k-130k). That’s 24k a person. All together is 4.3m rounding up.
He’d go from 21m to 16.5 mill, if his wages are totally stagnant, and he doesn’t get any kind of yearly bonus, which I really doubt he isn’t, and then also considered most CEOs make the majority of their yearly net gain in stocks alone.
