this post was submitted on 29 Dec 2024
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This is the exact argument boards of directors (which are made of other CEOs) use to excuse continually ratcheting up CEO pay, which their own boards in turn use to excuse ratcheting up their pay. It's the huge grift of the CEO good ol' boys club.
Yeah and the reason they get away with it is because a single person's (exorbitant) pay in the end hardly affect what's left for the shareholders, whereas giving all employees raises costs a lot more.