this post was submitted on 16 Sep 2023
574 points (98.8% liked)

News

23014 readers
7 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

The historic UAW strike puts an exclamation point on more than a decade of efforts by Washington lawmakers to narrow the pay gap between top executives and workers.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] -1 points 1 year ago (3 children)

Jobs aren't paid based on how difficult or stressful they are

[–] [email protected] 11 points 1 year ago (1 children)

Well they're certainly not based on what value they bring, either, except maybe to themselves and the ever-useless shareholders.

[–] [email protected] 6 points 1 year ago* (last edited 1 year ago) (1 children)

If the people paying did not believe they were getting their money's worth, they would stop paying that much. The problem is, the ceiling is set by whoever can realistically pay the most.

My entire point is that CEOs are obviously overvalued, due to the ability of extremely large firms to pay exorbitant salaries via stock. This creates a negative ripple downstream that hurts a lot of smaller businesses.

[–] [email protected] 4 points 1 year ago (1 children)

If the people paying did not believe they were getting their money’s worth, they would stop paying that much.

No they wouldn't. They're the same people as get paid that much elsewhere. They have no incentive to lower the bar.

[–] [email protected] 1 points 1 year ago (1 children)

You're mixing up who is offering what

[–] [email protected] 3 points 1 year ago (1 children)

No, I'm not. Who do you imagine sets CEO pay?

[–] [email protected] 1 points 1 year ago (1 children)

Competing firms and to a lesser extent the CEOs themselves, all have input. It's a market.

[–] [email protected] 0 points 1 year ago (1 children)

It's nothing like a market. Who do you imagine the individuals are who set the CEOs pay, and how do you think their pay is decided?

[–] [email protected] 0 points 1 year ago* (last edited 1 year ago) (1 children)

Generally, but not always, the board will set a price range for CEOS. In smaller firms, the C-suite or President will, in some rarer cases the owner will have sole vote.

You seem to think CEOs dictate their own wages, which makes no sense. That's not how getting a job works.

[–] [email protected] 0 points 1 year ago

Exactly

Furthermore, the boards themselves typically include fellow C-Suite executives, leading to elite back-scratching as well as a never-ending upward spiral of executive compensation as companies compare their CEO salaries to others.

They're not incentivised to get the best value for money. They're setting the benchmarks by which their own pay is decided.

[–] [email protected] 7 points 1 year ago (1 children)

Is that why doctor are so under paid/s they aren't based on skill or education?

[–] [email protected] 4 points 1 year ago* (last edited 1 year ago)

Doctors are highly paid because they are scarce. You'll note that surgeons in the UK, as an example, make about a third or less of what a US surgeon makes.

Our residency system, coincidentally, induces artificial scarcity of doctors