If pay had kept pace with productivity gains, minimum wage would be $24 an hour

Re:If pay had kept pace with productivity gains, minimum wag... by Traster on Friday October 09, 2020 @06:33PM (#24735107)

This is self-fulfilling. There is a claim that CEOs are well paid because they're in high demand. The truth is that it's actually difficult to find someone who will work for minimum wage in a In-n-Out burger in San Jose. It's easy to find a dozen qualified candidates for CEO - hell, half of them are CEOs at similar smaller companies and the other half are CxOs/SVPs at the company you're hiring for. The myth is that you need some massive salary to attract the best, whereas what actually happens is you hire who you would've hired anyway, but you pay them a massive premium.

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Re:If pay had kept pace with productivity gains, minimum wag... by barry-cotter on Saturday October 10, 2020 @12:29AM (#24736685)

> The myth is that you need some massive salary to attract the best, whereas what actually happens is you hire who you would've hired anyway, but you pay them a massive premium.

Microsoft’s market capitalization has more than doubled during Satya Nadella’s tenure as CEO. When Steve Ballmet quit as CEO the market cap jumped over $100 million. That kind of difference is why companies pay extremely well for top CEO talent. Management is a skill, some people are really great at managing large, complex, profitable organizations and they’re worth a lot of money.

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Re:If pay had kept pace with productivity gains, minimum wag... by charlesu on Saturday October 10, 2020 @09:11AM (#24738752)

My takeaway is that Steve Ballmer was paid million of dollars despite being worth negative $100m to MSFT.

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