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- Goose
- Cogito ergo sum
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- Registered: 1/29/2015
- Posts: 13,427
Re: CEO who set firm's minimum wage to $70G says he has hit hard times
Anothet aspect is that the CEO evened up the wages across the board without regard to skill sets, duties, or the amount of responsibility each employee had.
I think that this caused the resentment that caused him to fail.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- Just Fred
- Duke of Cortona
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- Registered: 1/29/2015
- Posts: 3,863
Re: CEO who set firm's minimum wage to $70G says he has hit hard times
..... let's say typical starting salary for a new, inexperienced employee is $6,800. Five years later, you're making $9,000. If market rate is now $10,000 for a new, inexperienced employee, we can assume the market rate for people with five years experience is more than $10,000. - Max
If that were the case, then you would be correct, and that was my personal experience. In my situation, I might have been making $13,000 at the time a first-year teacher was making $10,000. The salary for first-year teacher increased $3,200 over the 5-year period, and my salary increased $6,200.
And, I also agree with Goose that skill sets, duties, and responsibilities need to count for something. In my case, it was experience. That's where the CEO screwed up even though, as I said before, his heart was in the right place. He just didn't think it through very well.
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