Re:Norway's sovereign wealth fund to vote against Apple mana...
by sokoloff on Monday February 28, 2022 @05:49AM
(#30498491)
Sure there’s an elsewhere to go: found a company and own it all. Or take a job that isn’t subject to these hypothetical caps.
If you cut the max pay of doctors to $50K/yr, in 20 years, you’d have a lot fewer high-achieving students going into medicine and doing something else (law, engineering, etc)
Re:Norway's sovereign wealth fund to vote against Apple mana...
by kennywinker on Monday February 28, 2022 @11:35AM
(#30501785)
There’s no shortage of qualified people wanting to become doctors, and yet they only make 2-5x what the average person makes in the US. This is exactly my point. I’m not saying CEO should be a badly paid job, I’m saying beyond a saturation point, you don’t get more/better people if you pay more. I suspect the saturation point is more like 5-10x not the 30x to 300x we’ve seen in the past 40 years
> There are obviously non-free-market forces that affect compensation but none of them work by considering the individual; they all start by considering the position and the market for the position.
Free market does NOT apply when you consider the individual. Considering the individual, there is no free market value to Tim Cook, because Tim Cook has a monopoly on Tim Cook. A monopoly is not a free market. Which is, of course, why he can ask for 100M/year in compensation... but it's not necessarily a good reason for anyone to pay that amount.
Anyway, all of this is academic. I'll be voting with my shares to block the pay hike, but that position will almost definitely lose.