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1. Who is asking for $100/hr at this level? 2. Maybe CEOs and executives don’t need to pay themselves such absurd salaries, that would probably help. What a s
by somehnguy 4y ago
1. Who is asking for $100/hr at this level?
2. Maybe CEOs and executives don’t need to pay themselves such absurd salaries, that would probably help.
What a strange comment imo. I can’t take the ‘everything will go up!’ stance seriously while higher ups are buying 10 houses and private jets. The wage gap is atrocious.
By the way, Switzerland’s GDP is 748 billion vs the United States’ 20.94 trillion. Comparing them like that is meaningless and silly.
- drstewart 4y ago>Maybe CEOs and executives don’t need to pay themselves such absurd salaries, that would probably help Can you show your work here? Assume Amazon executives cut their salaries to 0, how much extra would they be able to pay workers?
- zeroonetwothree 4y agoIt’s something like $300-1000/yr more if we average over all Amazon employees, depending on who counts as “executives”. If the high pay is truly attracting better performers (which I admit is unlikely) they could easily be benefiting the company’s workers a larger amount by increasing demand. Or maybe not and they are kinda useless , but in any case the total cost isn’t that high.
- NovemberWhiskey 4y agoThat doesn't pass the sniff test. Amazon allegedly has about 1.6 million employees. Assuming that the "executive" class is a trivially small number of them, and that the average employee works say 2,000 hours per year, you're suggesting that the cost to Amazon of paying those executives is somewhere between $960B and $3.2T per year. The high end of that estimate is about one fifth of the total earned income for the entire U.S. economy.
- tjpnz 4y agoEveryone would get 213 dollars a year extra if just their CEO didn't receive any compensation. Amazon employs approximately 1 million people in the United States and Andy Jassy received 213 million total comp in 2021.
- School-Cotton 4y agoSo, practically none.
- somehnguy 4y agoTheir example was only a single person cutting salary, so practically meaningless. And I would also argue, in bad faith with the design of proving a point with bad data.
- NovemberWhiskey 4y agoFeel free to pick a representative group of executives for your purposes; it really won't make any difference.
- UncleMeat 4y agoBetter off in Jassy's pockets then?
- kristjansson 4y agoThat ~200m (really 61000 shares) vests over 10 years though. So really ~20 bucks per employee per year.
- ekianjo 4y ago> Everyone would get 213 dollars a year extra if just their CEO didn't receive any compensation. Wow, then they can buy an extra starbucks coffee now and then. That would surely change their life.
- ekianjo 4y ago> 1. Who is asking for $100/hr at this level? Why not? If you can double every few years eventually you will get to 100 dollars. And if you claim that everyone needs to make decent wages, who is to define what "decent" is supposed to be? People will always be asking for more, never less. > 2. Maybe CEOs and executives don’t need to pay themselves such absurd salaries, that would probably help. Even if CEOs gave up their whole salary tomorrow, it would not change the pay of people working in very large companies with dozens of thousands or hundred of thousands of employees.
- deleted 4y ago[deleted]
- somehnguy 4y ago> Why not? If you can double every few years eventually you will get to 100 dollars. Huh? That isn’t reasonable at all and I don’t think you’re arguing in good faith because of it.
- ekianjo 4y agoWith inflation 100 dollars will become very reasonable soon enough.