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.

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.

  • JoBo
    11·
    10 months ago

    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?

    • SCB@lemmy.world
      11·
      10 months ago

      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.

      • JoBo
        11·
        10 months 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.