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Yet CEO's bonus in 2022 was 20x bigger than his salary. I don't think it will be less this year either; with all-time high stock price and these "cost cuts", he
by dig1 3y ago
Yet CEO's bonus in 2022 was 20x bigger than his salary. I don't think it will be less this year either; with all-time high stock price and these "cost cuts", he will be wholesomely rewarded.
- ClumsyPilot 3y agoThis kind of comment woups not have been here like 3 years ago. It was an amazing journey to watch HN denisens adjust their opinions as they went from creme de la creme and 'anyone can create a unicorn tonorrow' to, you know, being basically like a plumber but for JSON.
- pianoben 3y agoThe secret is, we've always been plumbers. It's not a terrible comparison in some ways - plumbers are highly-skilled, scarce, and command high prices for their services. Nobody mistakes them for Capital, especially not plumbers themselves. Engineers seem to have gotten the wrong idea about themselves lately.
- nforgerit 3y agoGosh I like this comment so much. This is exactly how I felt and saw ourselves whilst sitting in hipster startup offices getting way too much money compared to the rest of society. That said, tech people in general publicly don't get enough respect or disrespect for their work.
- WalterBright 3y ago> getting way too much money compared to the rest of society A good engineer can make a great deal of money for the company, far more than a plumber ever could. I.e. an engineer has leverage.
- efields 3y agoThe plumber at the house with an overflowing toilet sure has some leverage, too.
- fingerlocks 3y agoI mean, not really. Every house has a main water shutoff valve. You can watch a 5 minute YouTube video on how to snake a toilet yourself. Or spend an hour installing a new toilet.
- nforgerit 3y agoThat’s what every MBA wannabe tech startup founder is saying about using wordpress to achieve his goals.
- selimthegrim 3y agoThe best plumbers can always pivot to content creators on #DrainTok
- ChatGTP 3y agoEnjoy :)
- saagarjha 3y agoWhy pay software engineers anyways? We should just have the company leadership code, it’d save a lot of money.
- bdavisx 3y ago>getting way too much money compared to the rest of society Personally I feel that the "rest of society" is getting way too little money vs. us getting way too much (opinion based on the fact that profits/productivity have outgrown salaries for too long).
- ClumsyPilot 3y agoexactly, we have an 'economic crisis' among record profits. This is the first time in human history. There is another name for it - getting shafted
- Firmwarrior 3y agoYeah, man, I've been trying to tell people this for a while. Programming isn't overpaid; it's just the one field where market forces actually work to provide a livable wage that grows with inflation. When I was working at a non-FAANG for normal pay, I was basically living the exact same lifestyle as my dockworker grandfather. I could afford a house and car, wife didn't have to work, one vacation per year, moderate savings.
- hajile 3y agoThere's a guy in a massive yacht who won't let anyone on board. You're in a one-man lifeboat. But you say you're simply too well off compared to the people swimming in the water.
- deleted 3y ago[deleted]
- mirekrusin 3y agoThe difference is that GPT won’t steal plumber’s job.
- fzeroracer 3y agoGPT isn't going to steal anyones jobs. It's just the new outsourcing where the big thing in the 2000s was to try and outsource your work as much as possible. Except that problem came to roost quickly due to poor code quality and the cost to fix it was more than the cost to make it good in the first place. Same issue with GPT. It's generating low quality, poor performing, poorly designed code. Any company using it as a basis will be in trouble.
- dukeyukey 3y agoPlenty of companies make bank using low-quality, buggy code. Not the kind of places most here work at though, because they weren't hiring dedicated developers to begin with.
- HeyLaughingBoy 3y agoHow exactly do you "steal" a job?
- daveslash 3y agoAsk George Costanza, who's currently managing the Penske file.
- HeyLaughingBoy 3y agoWell, although he put a lot of work into it (they didn't call him the Little Beaver in college for no reason) he wasn't Penske material, so he shouldn't have been there. But that still doesn't answer the question.
- pianoben 3y agoI encourage you to give GPT, Copilot, etc a spin. You'll quickly be reassured about developer job security!
- nerdix 3y agoI don't think Joe The Plumber got that memo.
- daveslash 3y agoThere's a small remote island community in New England that I visited once. I was told that the person with the most political sway on the island is the plumber. It was explained to me succinctly: You don't need a plumber often, but when you need a plumber, you need a plumber!.
- cush 3y agoFun fact: plumbing is actually one of the highest rated jobs in terms of work-life balance and happiness. Plumbing is an excellent job.
- classified 3y agoCreme de la creme? ROFL, that's so funny I have to upvote you.
- somsak2 3y agoHN has been talking about the disparity in CEO vs worker pay for quite a while. Here's a highly-upvoted post from a little over 3 years ago about exactly this topic: https://news.ycombinator.com/item?id=20707473 https://news.ycombinator.com/item?id=20707473. Almost all the top comments are clearly on one side of the debate.
- manmal 3y agoBecause a small team can’t create a unicorn tomorrow, anymore.
- jiveturkey42 3y agoPlumber has more job security
- Klonoar 3y agoI wrote an article about this as far back as 2010. It didn't go over well then. ;) That said, this phenomenon should not be used to justify exorbitant executive compensation that is very out of line with what the positions lower on the totem pole are capable of getting. We do not need that kind of society.
- Nimitz14 3y agoHappens with every community as it gets larger. Guess the right thing to do is try and create/join invite only groups
- WalterBright 3y agoAnyone can buy MSFT and get their share. As for the employees, they have stock options and are getting a piece of the all-time high stock price. Although MSFT's all time high stock price was in 2021. This goes for all public corporations. Anyone can get a piece of the action by buying some stock in them. As for the size of Nadella's compensation package, speaking as a long term MSFT shareholder Nadella has earned it. You might want to check out a graph of MSFT's stock price before and after Nadella became CEO.
- mupuff1234 3y agoWait, so why don't current employees of MSFT also deserve a raise? You know, the people who actually built and sold the products?
- WalterBright 3y agoThey get the rise in the value of their MSFT stock options. Microsoft has historically had low salaries - because the money was made from the stock options.
- mupuff1234 3y agoSo why doesn't the same apply to Satya?
- WalterBright 3y agoGoogle sez: "Of this total $2,500,000 was received as a salary, $10,066,500 was received as a bonus, $0 was received in stock options, $42,269,560 was awarded as stock and $110,250 came from other types of compensation." Set this against the several hundreds of billions added to the MSFT value during his reign, and his compensation is the bargain of the century. As a longtime MSFT shareholder, Nadella's compensation is coming out of my pocket. I don't begrudge him a penny of it.
- 3y ago
- test6554 3y agoWe all do what we need to do to be rewarded. I'm sure some employees will be getting bonuses.
- dkarras 3y agoI don't get the obsession with CEO salaries. Envy is not a productive way of thinking about economics. In a huge company, distribute the CEO compensation to employees and it will be peanuts (in microsoft's case, it is something like $200 per employee - not per month or anything, that is the total). I don't get it. If all the CEOs in the world were forced to make $0, it will not meaningfully change the amount of money in workers' pockets. It is the wrong tree to bark at.
- viraptor 3y agoIt sets the tone and it's unlikely that just the CEO gets bonuses like that. If the exec salaries/bonuses were tied to all the other salary adjustments, the incentives to care about workers would be better too.
- krainboltgreene 3y ago> Envy is not a productive way of thinking about economics. This is an incredibly uncharitable way to frame the parent comment. > If all the CEOs in the world were forced to make $0, it will not meaningfully change the amount of money in workers' pockets. That's just not true.
- jldugger 3y ago>> If all the CEOs in the world were forced to make $0, it will not meaningfully change the amount of money in workers' pockets. > That's just not true. But its not far from wrong -- cutting a ten million dollar a year expense and putting it to worker pay will not make workers rich in the colloquial sense.
- krainboltgreene 3y agoSure if you add words to the original statement you're right, it's "not far from wrong". I wonder if people read what they type before they hit "reply"?
- waiseristy 3y agoIs the CEO some sacred object that should be treated differently than any other part of the org? Just because there are a handful of C-level execs, they deserve 20,000% bonuses while the rest of the org skimps? It’s about equality, attributing it to ‘envy’ reeks of entitlement.