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

News

36292 readers
2899 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. Do not respond to rule-breaking content; report it and move on.


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


Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.


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. Clickbait titles may be removed.


Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.


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, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.


7. No duplicate posts.


If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. 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 or news aggregators.


All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.


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 2 years 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
[–] SCB@lemmy.world -1 points 2 years ago (3 children)

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

[–] FinalRemix@lemmy.world 11 points 2 years ago (1 children)

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

[–] SCB@lemmy.world 6 points 2 years ago* (last edited 2 years 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.

[–] JoBo@feddit.uk 4 points 2 years 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.

[–] SCB@lemmy.world 1 points 2 years ago (1 children)

You're mixing up who is offering what

[–] JoBo@feddit.uk 3 points 2 years ago (1 children)

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

[–] SCB@lemmy.world 1 points 2 years ago (1 children)

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

[–] JoBo@feddit.uk 0 points 2 years 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?

[–] SCB@lemmy.world 0 points 2 years ago* (last edited 2 years 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.

[–] JoBo@feddit.uk 0 points 2 years 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.

[–] TruTollTroll@lemmy.world 7 points 2 years ago (1 children)

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

[–] SCB@lemmy.world 4 points 2 years ago* (last edited 2 years 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