If you have to underpay your workers to make enough profit, then your business model sucks, and your company should fail.
Economics 1B
Comment on Companies lower salaries in job postings as pay transparency laws take effect
shalafi@lemmy.world 1 year agoThat’s actually rather easy if you work for a publicly traded corp, at least to ballpark it.
Company profits / total workers. (<-this seems facile, what am I missing?)
OTOH, beware comparisons of pay scales.
“CEOs make too much!”
Do the math. CEO pay is typically 1/100th of a penny earned, sometimes 1/1000th, not a drop in the bucket. Don’t matter. When I was a kid, sports star pay was the thing to rage about. LOL, haven’t seen a single lemming comment about that. Whatever.
“I don’t make enough!”
And that’s very likely true, but you cost far more than you think. Good rule of thumb? Double your pay, that’s what you actually cost. You make $15/hr.? Company probably pays $30, or a bit more. Company has to pay worker’s comp insurance, taxes, benefits, unemployment insurance, payroll processing fees, all that and more.
SOURCE: Worked IT for a payroll company, got the inside scoop.
uriel238@lemmy.blahaj.zone 1 year ago
AtariDump@lemmy.world 1 year ago
When companies pay peanuts compared to the C-Suite AND post record profits each year, I think the company could give me more than a 3% raise.
Zoboomafoo@lemmy.world 1 year ago
It’s impressive how deftly you avoid the comment to spout your own opinion
shalafi@lemmy.world 1 year ago
Well, that goes without saying. I was commenting on the idea of “fair market value”.
AtariDump@lemmy.world 1 year ago
The downvotes say otherwise.