It’s nice to know that at least someone folk’s pay has kept pace since the 60s, just a shame the rest of us are getting fucked over to do it.
Something has **got** to be done about exec pay, it’s detached from all reality.
I guess the good news is that these are the kinds of folks who will say the money doesn’t matter and they are driven by other urges. So they won’t mind a 75% pay cut.
Sound’s about right.
Back to my low income depression it is.
I first read this as “Tory CEOs”, then realised there was no difference.
I’m always a bit confused about this angle looking at very high compensation roles. These CEOs haven’t taken their wage from other workers, they have been given it by shareholders.
If these compensation packages were decreased it would never be distributed to lower employees, the asset owners (who are the truly rich) would just keep it.
Obviously I’d rather all wages were better, but if it’s just a choice between some money being paid out to labour vs being held by the wealthy that’s still a good thing. Especially when you consider the implications for taxation and the much higher rates workers pay than asset holders.
So that accounts for 100 out of ~5.9M businesses, or 0.0016% of CEOs in the UK being paid like this.
The amount of low-paid people who defend this, especially on here, is fucking bizarre.
These people don’t care if you stick up for them you know? They’d set you on fucking fire if they thought it would increase profits. What motivates you to go online and defend income inequality when you’re on the side that is loosing out?
Good for them. They’ve worked hard in those four days.
What’s that? They’re still on holiday? Oh.
Judging by the conversation on LBC this morning… Clearly these CEO are working much much harder than the rest of us.
Lot of defenders of rampant inequality in this thread. No wonder this country is turning into a morally bankrupt shit hole.
You could earn £10,000 every *day* for 200 years and still not be a billionaire. People should stop defending billionaires.
Boss makes a dollar, I make a dime, that’s why I poop on company time.
Mad in’t it? I took a call from a partner in my job yesterday, and it occurred to me later that their earnings just yesterday were probably worth mine for the month.
Saw someone say that it’s easier to imagine the end of the world than it is the imagine the end of capitalism.
That hits deep.
I mean, is this a surprise to anyone? This is capitalism working as intended.
Remember Brexiteer Richard Walker of Iceland and newsnight? He took over full control again and claimed a loss, according to them mostly due to ‘covid administration’ costs. One could speculate that the admin cost was paying himself and avoiding tax.
Back in the mid-1980s even at Peak Thatcher, a City fat cat might have earned £900k in a bumper year. Nowadays he’ll get £2.5m in a meh year.
All salaried employees earned less back then, things were more expensive on paper and money didn’t go as far. End result is that *almost everyone* – including executives – was poorer in those days. Uncapped fantasy-realm pay was only for tycoons and plutocrats like Robert Maxwell and suchlike.
A big-time CEO making 100 times the average seems lower than I would have thought. Unless the figure means something different than my understanding, I would have expected it to be somewhere between 12 and 24 hours.
Or maybe I’m thinking of a multiple of the *lowest* paid employees, rather than the average.
These threads always make me wonder how long I could last as a CEO of a very large company and my answer is usually 18mo’s.
6mo’s to do a “listening tour” of customers and employees, get to know the board (and more importantly the compensation committee!), and formulate a plan. Which is to bring in one of McKinsey, Bain or BCG to do a grand corporate strategy in 6mo’s to deliver on my “vision” of half cocked corporate buzz words. Then 6mo’s of trying and likely failing to execute that plan and me playing politics with the board to assign blame on my team. After that I’m either out on my ear as a fraud with the CFO/chief legal counsel stepping in, or in an unlikely scenario I get a longer term deal, a bunch of stock and can repeat the process. Even if you are let go, you still get a decent size payout and your friends on the board start to recommend you to other friends on other boards to become CEO there…
“They’re paid what they’re worth” sounds like it’s time for a general strike to remind everyone who actually provides value.
I’m a 10 year engineer still stuck in the 40s per annum. What happened to mech engineering in the U.K. ?
And y’know what they themselves think reading a headline like that? “Next year I’ll do it in three.”
“*this is the first year in a decade that CEOs have had to work into the fourth day of the working year to make the same amount as the average full-time worker in a year”*
Tragic.
Top CEOs show no sign of remorse after just four seconds.
23 comments
It’s nice to know that at least someone folk’s pay has kept pace since the 60s, just a shame the rest of us are getting fucked over to do it.
Something has **got** to be done about exec pay, it’s detached from all reality.
I guess the good news is that these are the kinds of folks who will say the money doesn’t matter and they are driven by other urges. So they won’t mind a 75% pay cut.
Sound’s about right.
Back to my low income depression it is.
I first read this as “Tory CEOs”, then realised there was no difference.
I’m always a bit confused about this angle looking at very high compensation roles. These CEOs haven’t taken their wage from other workers, they have been given it by shareholders.
If these compensation packages were decreased it would never be distributed to lower employees, the asset owners (who are the truly rich) would just keep it.
Obviously I’d rather all wages were better, but if it’s just a choice between some money being paid out to labour vs being held by the wealthy that’s still a good thing. Especially when you consider the implications for taxation and the much higher rates workers pay than asset holders.
So that accounts for 100 out of ~5.9M businesses, or 0.0016% of CEOs in the UK being paid like this.
The Median CEO salary in the UK is [£78k](https://www.payscale.com/research/UK/Job=Chief_Executive_Officer_(CEO)/Salary), but that’s far less sensationalistic and doesn’t allow people to feel mistreated and outraged.
The amount of low-paid people who defend this, especially on here, is fucking bizarre.
These people don’t care if you stick up for them you know? They’d set you on fucking fire if they thought it would increase profits. What motivates you to go online and defend income inequality when you’re on the side that is loosing out?
Good for them. They’ve worked hard in those four days.
What’s that? They’re still on holiday? Oh.
Judging by the conversation on LBC this morning… Clearly these CEO are working much much harder than the rest of us.
Lot of defenders of rampant inequality in this thread. No wonder this country is turning into a morally bankrupt shit hole.
You could earn £10,000 every *day* for 200 years and still not be a billionaire. People should stop defending billionaires.
Boss makes a dollar, I make a dime, that’s why I poop on company time.
Mad in’t it? I took a call from a partner in my job yesterday, and it occurred to me later that their earnings just yesterday were probably worth mine for the month.
Saw someone say that it’s easier to imagine the end of the world than it is the imagine the end of capitalism.
That hits deep.
I mean, is this a surprise to anyone? This is capitalism working as intended.
Remember Brexiteer Richard Walker of Iceland and newsnight? He took over full control again and claimed a loss, according to them mostly due to ‘covid administration’ costs. One could speculate that the admin cost was paying himself and avoiding tax.
Back in the mid-1980s even at Peak Thatcher, a City fat cat might have earned £900k in a bumper year. Nowadays he’ll get £2.5m in a meh year.
All salaried employees earned less back then, things were more expensive on paper and money didn’t go as far. End result is that *almost everyone* – including executives – was poorer in those days. Uncapped fantasy-realm pay was only for tycoons and plutocrats like Robert Maxwell and suchlike.
A big-time CEO making 100 times the average seems lower than I would have thought. Unless the figure means something different than my understanding, I would have expected it to be somewhere between 12 and 24 hours.
Or maybe I’m thinking of a multiple of the *lowest* paid employees, rather than the average.
These threads always make me wonder how long I could last as a CEO of a very large company and my answer is usually 18mo’s.
6mo’s to do a “listening tour” of customers and employees, get to know the board (and more importantly the compensation committee!), and formulate a plan. Which is to bring in one of McKinsey, Bain or BCG to do a grand corporate strategy in 6mo’s to deliver on my “vision” of half cocked corporate buzz words. Then 6mo’s of trying and likely failing to execute that plan and me playing politics with the board to assign blame on my team. After that I’m either out on my ear as a fraud with the CFO/chief legal counsel stepping in, or in an unlikely scenario I get a longer term deal, a bunch of stock and can repeat the process. Even if you are let go, you still get a decent size payout and your friends on the board start to recommend you to other friends on other boards to become CEO there…
“They’re paid what they’re worth” sounds like it’s time for a general strike to remind everyone who actually provides value.
I’m a 10 year engineer still stuck in the 40s per annum. What happened to mech engineering in the U.K. ?
And y’know what they themselves think reading a headline like that? “Next year I’ll do it in three.”
“*this is the first year in a decade that CEOs have had to work into the fourth day of the working year to make the same amount as the average full-time worker in a year”*
Tragic.
Top CEOs show no sign of remorse after just four seconds.