this post was submitted on 29 Dec 2024
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Sounds like those 105 employees aren't being paid what they should be. Pay them more. Leave this guy's pay alone.
Personally I'd say, if top level CEO pay is $6.5m, and we set that as reasonable pay for that level job, and maybe we say the top should earn 20x the bottom, then the average pay in the US should be $325k. Which sounds perfectly reasonable to me. Stop thinking in terms of dragging the top down... Think in terms of lifting everyone else up. If the owners need to own less for this to happen, then so be it
"Just pay everyone more" is nice idea - but obviously that would require a lot of additional money. Whereas "lower CEO pay and raise employee pay" does not require additional money.
Lower profits, pay workers more