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Someone once said that your boss isn't paid more because he's better/works harder, but because only 1 of the row below can be promoted to boss, so they have to
by mavhc 9y ago
Someone once said that your boss isn't paid more because he's better/works harder, but because only 1 of the row below can be promoted to boss, so they have to make the pay amazing, so everyone below works really hard for the company to try and get promoted.
- gorbachev 9y agoThere was a study I read some time ago that essentially said the inflation of CEO salaries is because the boards who control the compensation of CEOs is just one big Old Boy Network. They all know each other, are wannabe or ex CEOs, so they end up "taking care" of each other. I don't remember the exact details or whether the study was scientifically solid or just someone spitballing stuff, so who knows. Personally I find the golden handshake deals completely reprehensible, and more or less a criminal misuse of shareholders' money, especially if the CEO leaves/gets fired because the company is going down the drain.