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If something goes wrong with an entity dealing with over a hundred million dollars, the CEO is expected to respond relatively immediately, as in, on call 24/7,
by brownbat 8y ago
If something goes wrong with an entity dealing with over a hundred million dollars, the CEO is expected to respond relatively immediately, as in, on call 24/7, because a hundred million represents the interests of a lot of people most likely.
The variety of things that can go wrong is large, and the necessary responses are nuanced, potentially requiring sophisticated knowledge in several domains, from legal, accounting, personnel, leadership, to communication and reputation management.
I have no idea what such a role should pay, but 0.2% of the money moved by the organization doesn't sound crazy, insofar as money moved correlates somewhat to the risk of lawsuits or the death of the organization after an emergency is handled poorly.
Aside from the day to day management, look at it like an insurance policy on the whole enterprise. In those terms it's actually a pretty reasonable rate.
This theory doesn't justify any price whatsoever. Some CEO compensations are surely still too large. I just don't think this is the best case study for that point.
- gowld 8y agoFor charities, a pertinent question is: Why should I donate money to someone who takes home more money than I do? Why isn't he donating?
- greenshackle2 8y agoGiveWell is not the top-ranked GiveWell charity. Typically if you use GiveWell you don't donate to GiveWell, you give to AMF or whatever directly. And he does donate: https://blog.givewell.org/2016/12/22/front-loading-personal-giving-year/ https://blog.givewell.org/2016/12/22/front-loading-personal-...
- mjw1007 8y agoIt seems rather likely that he is donating.
- brownbat 8y agoReminds me of Whit Stillman's Metropolitan, where one of the more bourgeois characters suggests to his middle class friend that he not worry so much about the less fortunate, and instead consider he might be one of the less fortunate himself. If you're struggling, feed yourself first. Don't create new needs, robbing Peter to pay Paul. If you have something extra, then sit down and figure out where your dollars actually do the most good, and resist the temptation to donate randomly with no research, based on a heartfelt appeal or good promotional materials. Maybe GiveWell doesn't meet that test for you, that's fine, if everyone just thought it through that much we'd be way better off than we are now.