- Joined
- Oct 22, 2002
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- Old Fart
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- Don't be a dick.
Still misses the point;
The point was, CEO/Board of Director salary packages are not necessarily tied, or related to performance or productivity, more a matter of status and prestige....being in a position that makes this possible.
And what a minimum wage earner or the average worker gets paid per hour does not necessarily reflect their productivity value, just what firms are willing to pay in order to maximize profits, the workers being in no position to negotiate, ''take it or leave it, there are others waiting for work and willing to work for less'' - in contrast to Executive Salaries, a race to the bottom.
Income is not always a matter of reward for productivity, but maximizing profits when it comes to the pay rate of employees, currently stagnant incomes, and increasing Executive incomes. Why? Well, not because they so incredibly productive, but that are in the position to pay themselves whatever they can get away with...to the point of shameless greed.
CEOs often sit on the Board of Directors of other companies. They then grant each other these huge remuneration packages. It's a big circle jerk.