Average CEO now makes $10.7 million

[Phoenix44]

Some one please define a living wage in a dollar rate. Every time i hear the term its this group is not making a living wage, so what is it $8/hr, $9, $10, ...

This is an interesting question, and I think the answer is relative. Let's suppose for argument's sake that half your salary should be spent on rent/mortgage--I've heard that figure quoted. In this part of the country, the average monthly mortgage payment is $2,200 (2002 figures). That would mean to fit this scenario, the relative salary would be $52,800. But average per capita income is only $49,500. You MAY be able to live here, but with gasoline prices at $2.59/gallon, and utility rates the highest in the country, even with a lower rent or mortgage, you're going to hurt.

Now at $8/hr, 40 hr weeks, 52 weeks/year, you'd earn less than $17,000. Well, even with TWO incomes in the household, that's not a living wage in this part of the country.

The problem is that at the national minimum wage, $5.15/hr, you can't afford to live ANYWHERE in the United States of America. So $5.15/hr is not a living wage in this country.

I agree that any worker is worth whatever someone is willing to pay him/her, but I really have to wonder why someone MUST earn $10 million/year while paying the workers $5.15/hr.

 

[MisterMike]

I agree that any worker is worth whatever someone is willing to pay him/her, but I really have to wonder why someone MUST earn $10 million/year while paying the workers $5.15/hr.

Cuz the board approved it.

 

[Bammx2]

WRONG. Most people who try to startup a business fail like over 95%. Let's see you try to do what Bill Gates or his like did. As a small Business owner, I think you employees should thank your lucky stars someone is WILLING to hire you at all. If you socialists hate the CEO s so much start your OWN business and see how you do. Running a business is to to provide for one self and ones family not the community.(Which I think communities are a myth BTW, there are only self-centered individuals living near each other).

Socialist?! if you don't like people who hate CEO's,quit your job.
simple as.
AND FYI.....
I happen to be half owner of a painting business in columbus ohio,which I started with a friend almost 10 years ago;which may not sound like much,but my clients included people like Bobby Rahall,The columbus Zoo,the columbus city center mall.Circuit City... AND I run a martial arts club here in the UK AND I'm getting ready to open another!
And I'm not a ceo,I'm just a guy who is willing to help other people get a break...at MINIMAL cost.
Can't take it with ya! so why try?
And for the majority of these littel ceo's out there in question,didn't start thier own business either.
Bill Gates,Richard Branson,LARRY FLYNT,Hugh Heffner and "the like" are small number who got lucky.They are NOT the norm.
And for you business owners out there,you should get on your knee's and give thanks that people are WILLING to ask YOU for a job!
At the end of the day,we need each other to exsist.But it is because of these greedy twits that so many people are struggling JUST to make the poverty level so the others can have thier little "ceo" titles.
Like it or not,that IS the truth of it!

sgtmac...
you are correct.Some people are better suited to do certain jobs.On this,I do agree and I should not generalise so much.
You will have to excuse my disgust for most corperations.
But even you must admit,there have plenty of people who have become ceo's,be it through appointment or personal achievement,drop an established company right through the toilet as soon as they got in the "big chair".

 

[stephen]

Bill Gates has given 17 BILLION to charity.

I assure you - Microsoft products have created more wealth in the world than the few hundred billion Gates is worth.

The problem here is that some people don't understand that the economy is not a zero-sum game. It is a positive sum game, this is why we're living in nice houses and talking on the internet. Were it zero-sum we'd still be in caves. Maybe Bill would own all of them - but they'd still be caves.

 

[Rich Parsons]

Bill Gates has given 17 BILLION to charity.

I assure you - Microsoft products have created more wealth in the world than the few hundred billion Gates is worth.

The problem here is that some people don't understand that the economy is not a zero-sum game. It is a positive sum game, this is why we're living in nice houses and talking on the internet. Were it zero-sum we'd still be in caves. Maybe Bill would own all of them - but they'd still be caves.

I maybe wrong, but I thought it was the Gates Foundation that gave away most of the money to Charity. The Gates Foundation was not really a player in the Charity world until Mrs. Gates came along, and helped Bill out. I have noticed, Bil no longer makes rediculous claims in public anymore.

So, I just thought I would give the credit where I thought it was do, which is to Mrs. Gates.

 

[arnisador]

Bill Gates has given 17 BILLION to charity.

I know he's often been criticized for being a miserly philanthropist compared to his wealth, but I also know he's made a number of large gifts.

I assure you - Microsoft products have created more wealth in the world than the few hundred billion Gates is worth.

It's only tens of billions, no?

 

[Phoenix44]

Having been a small business owner, as well as an employee, I've discovered that the better you treat your workers, the harder they work, the more dedicated they are to seeing the business succeed, and the more likely they are to dig in during a crisis. When you give your employees the bare minimum, that's what they give back. If your employees are forced to work a second job, they're tired, and they're constantly looking at the clock.

 

[Bammx2]

WOHOO!!!
I got me neg rep point!!!
Let me see.....

Neg rep+no reason=.....rhymes with H-O-W-A-R-D

And while we're on the subject,
If you give a negative point,could it be just because YOU are mad or maybe because someone has just "got it wrong"?
If they just have it wrong,tell them why.They might not understand and that could be a preventive measure to keep them from making the same mistake twice.
If it's because you're "thenthitive"......
Grow up and get over it cause it ain't gonna change a thing:shrug:

 

[Bammx2]

Having been a small business owner, as well as an employee, I've discovered that the better you treat your workers, the harder they work, the more dedicated they are to seeing the business succeed, and the more likely they are to dig in during a crisis. When you give your employees the bare minimum, that's what they give back. If your employees are forced to work a second job, they're tired, and they're constantly looking at the clock.

Amen Brother!

 

[TonyM.]

Glad they make that much money. Now they can afford those hookers they need so badly.
(Had to say something discusting to deserve those negative rep points I got for my last comment.)

 

[Flatlander]

Mod Note:

Please direct Reputation point issues to the Member support forum. They do not belong here, as they detract from the discussion at hand.

-Dan Bowman-
-MT Moderator-

 

[stephen]

It's only tens of billions, no?

My bad! Yes, you're right. Something like 50B and change.

I know he's often been criticized for being a miserly philanthropist compared to his wealth, but I also know he's made a number of large gifts.

So..if he's given away 17B. 17/(55+17) = 23.6%

That dosen't seem very miserly to me. Who here donates 20% + to charity.

Also remember a lot of his wealth is in MSFT stock. If he were to sell it to get cash to donate or whatever he could lose a degree of control of the company.