2 ms·
It's the Lake Wobegon effect. No company wants to say their CEO is below the mean, and pay is a signal of CEO quality, so every company is always trying to pay
by secabeen 9y ago
It's the Lake Wobegon effect. No company wants to say their CEO is below the mean, and pay is a signal of CEO quality, so every company is always trying to pay above the mean, and so the mean inexorably rises and rises.