“average top CEO compensation was $15.6 million in 2021, up 9.8% since 2020. In 2021, the ratio of CEO-to-typical-worker compensation was 399-to-1 under the realized measure of CEO pay; that is up from 366-to-1 in 2020 and a big increase from 20-to-1 in 1965 and 59-to-1 in 1989”
The problem is this people in the top positions don't see anything wrong with this.
I remember telling my republican friend that companies would easily raise worker pay. He laughted said that hamburgers would cost $20. I said you don't need to raise the price of the product, the people at the top could make less money. He then said "Oh, they are NOT going to do that."
Showroom7561@lemmy.ca 1 year ago
The funny thing is, you can remove a CEO, and the company will still keep running. Remove workers and the company can’t function. Looks like “compensation” is going to the wrong people.
Gradually_Adjusting@lemmy.world 1 year ago
You could replace the work of most boardroom executives with a well trained AI tbh.
thefartographer@lemm.ee 1 year ago
Not that well trained. Pretty sure SmarterChild would suffice.
SCB@lemmy.world 1 year ago
A board is there to make decisions in their own best interest as key stakeholders. They’re not paid for services.
Similarly, no company of any real size can survive without a CEO because their job is to work with investors and execute a single vision.
Sometimes I feel like no one on this site actually works in a corporation. Like, these roles are defined. You can just look up what these roles exist for if you don’t know.
alvvayson@lemmy.world 1 year ago
The CEO is the link between the company and the shareholders.
They get paid by the shareholders to extract as much value as they can from the company to the shareholders.
On the other hand, if the company needs more investment, the CEO is the one who has to attract that investment, too. Otherwise the company will stall or go bankrupt.
m_r_butts@kbin.social 1 year ago
If you can't keep your business afloat on its own, if you require injections of cash from investors to avoid bankruptcy, that business should fail.
I'm absolutely sick to death of hearing about "a responsibility to the shareholders", used as it is to justify all kinds of immorality, exploitation, and predation.