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> Gravity’s 2014 profit was $2.2 million, Price adds. > At private companies with sales like Gravity’s total revenue, salary and bonus for the top quartile of
by zymhan 11y ago
> Gravity’s 2014 profit was $2.2 million, Price adds.
> At private companies with sales like Gravity’s total revenue, salary and bonus for the top quartile of CEOs is $710,000, according to Chief Executive magazine’s annual compensation survey. At companies with sales like Gravity’s net revenue, the top quartile pay falls to about $373,000. At companies with a similar number of employees as Gravity, the top quartile of CEOs makes $470,000 in salary and bonus. The CEO of JetPay, a publicly traded competitor that processes a similar volume as Gravity, received $355,000 in 2014.
$1.1 million on CEO salary sounds ridiculous given a $2.2m profit.
- jonknee 11y agoWhy? He was also the majority shareholder.
- zymhan 11y agoBecause taking 50% of the money your company has to invest in itself as pay seems awfully selfish and short-sighted.
- jonknee 11y ago50% of the profit after business expenses... There are tons of small businesses run this way, nothing especially wrong with it. You can do things differently when you control the shares instead of a bunch of VCs who want to pump it up so they can exit big or go home early.
- crpatino 11y agoNot if he were the managing partner (and majoritary owner). But agreed. If this were a public company, stockholders would probably be very unhappy that half of their earnings are being poached by some profesional executive with no skin in the game.
- jonknee 11y agoBut since he is the majority stockholder it makes perfect sense. It's his money one way or the other.
- you_eeeeeediot 11y agoGlad you posted that, I knew something was clearly out of whack with his compensation just based on revenue alone it did not make sense. The article tries to paint an elaborate picture, but ultimately fails on all counts to point out the most basic problem with this story and that might have shed additional light on his motivations.
- emiranda 11y agoWhere did you get $1.1 million?
- zymhan 11y agoFrom the article, did you read it?