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CEOs of top 100 ‘low-wage’ US firms earn $601 for every $1 by worker, report finds
(www.theguardian.com)
this post was submitted on 25 Aug 2023
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Work Reform
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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
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But they bring so much value for that $601. Like figuring out how many people to fire to maximize revenue for shareholders. Come on, doesn't that deserve a $15 million salary?!
It's ironic, they're the one position that I think at most companies provides no value at all. They think they'll be the ruling class in an apocalypse, but they don't realize that they have no marketable skills whatsoever.
Yes and no. They can't do what everyone else can do and not many can do what they do. You only see the darker side of thing and yes most are incredibly evil in many ways.
However, someone has to organize. Someone has to delegate. Someone has to decide. Do they deserve that much money? No. Does the position need to exist? In many ways it seems so.
As long as the employees are paid fair and well for their work, and the company is financially sound, they should.
The problem is almost all of them rake in millions at the cost of employees/customers/business or all.
Perhaps it's more accurate to say that they don't have a unique skillset. You're right that someone does need to delegate, organize, and decide, but the ability to do so isn't special at all. You could probably put any given technical worker in that position and they'd do just fine too.
Experience of course is what really shines here, but the problem is the same as politics. They may have more experience, but the decisions they're making aren't for everyone's best interest. They're biased towards the newer, richer friends.
This experience vs corruption duality is tough. It's also there when you have the government making policy. The experts you want to consult on how X is made and what regulations there need to be are those who are experiences in making X -- but those same groups also want money and clout, and will try to get that into the regulations. I'm not sure what a good solution is.