3 ms·
There are a downsides to paying a lot: * you attract/retain more people that are interested in money/status. * the employees become entitled. Also, just like
by Jyaif 4y ago
There are a downsides to paying a lot:
* you attract/retain more people that are interested in money/status.
* the employees become entitled.
Also, just like Apple's customers are OK with paying a premium price because it's Apple, employees are OK with paying a premium price to be an employee of Apple (by accepting lower salaries).
- gnicholas 4y agoEconomists call it 'psychic income'; it's often cited as a reason why salaries for teachers are not higher.
- davidgould 4y agoJohn Kenneth Galbraith called this phenomenon "convenient social virtue".