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> The CEO’s compensation is set by the board of directors using public consultants and comparable. This may be true, but the Lake Wobegon effect is strong here
by secabeen 8y ago
> The CEO’s compensation is set by the board of directors using public consultants and comparable.
This may be true, but the Lake Wobegon effect is strong here, few companies want to hire a below-average CEO, and few companies want to offer a below-average CEO compensation package, so they just spiral up and up and up.
- chrisseaton 8y agoWhy don’t these two statements and the resulting effect apply to workers other than the CEO though?
- ImprovedSilence 8y agoTheir salary & compensation isn't public, they have less information on what the market will bear for their skills. And that's how the company wants it to be.