Overpaid bosses ?

amit1986 said:
A lot of you have pretty much said the same thing to my reply, so I'll reply here once:

It's true - education and smartness aren't perfectly positively correlated. However, I can guarantee you that if you check out the educational qualifications of all the FTSE 100 CEOs, a majority of them will be highly educated. This is no mere coincidence. Getting higher education from top institutions does require smartness. It's this smartness that makes these guys/girls reach the top. The education doesn't make them smart - they already were smart.

I used to work at an investment bank part-time and most people there would come in the morning and leave in the evening. There was one individual, however, who would often arrive earlier and stay later than most. He rarely went out for lunch, instead sat on his table while eating. It's been a couple of years since then but I talked to him a while back and now he's been promoted several times and has all the perks to go with a nicer job title. So, while everyone was doing the same thing day-in day-out, this guy was really pushing himself (hence the "blood, sweat, and tears" remark).

Most of the people who get to the top with pure hard work deserve higher pay. No doubt though, some pay is far too excessive.
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Fair cop Amit,

No doubt there are exceptional individuals in all areas.

Having reached the top - what is the performance indicator and benchmark for these individuals now called management.

Productivity and return on investment must be baselined and measures in some way.


How would you measure output and productivity?

Is it based on input - hours worked - profits made - share price.

What is the yard stick. Blood sweat and tears indeed. Is the sweat of the janitor worth less than COE's on the squash court...


How would you correlate salaries of COEs against share price performance in contrast to university degrees?
 
amit1986 said:
A lot of you have pretty much said the same thing to my reply, so I'll reply here once:

It's true - education and smartness aren't perfectly positively correlated. However, I can guarantee you that if you check out the educational qualifications of all the FTSE 100 CEOs, a majority of them will be highly educated. This is no mere coincidence. Getting higher education from top institutions does require smartness. It's this smartness that makes these guys/girls reach the top. The education doesn't make them smart - they already were smart.

I used to work at an investment bank part-time and most people there would come in the morning and leave in the evening. There was one individual, however, who would often arrive earlier and stay later than most. He rarely went out for lunch, instead sat on his table while eating. It's been a couple of years since then but I talked to him a while back and now he's been promoted several times and has all the perks to go with a nicer job title. So, while everyone was doing the same thing day-in day-out, this guy was really pushing himself (hence the "blood, sweat, and tears" remark).

Most of the people who get to the top with pure hard work deserve higher pay. No doubt though, some pay is far too excessive.
Click to expand...

Perhaps you remember at the height of the banking crisis the CEOs of the top 5 UK banks were called before a Common's comittee to explain what was going on ?
I like you was under the misapprehension that these learned men knew what they were on about e.g. banking. However it turned out not one of the 5 had any banking qualifications whatsoever !! I was shocked !! I wish the Committee had asked the people who appointed them their reasons. Whether they were all Freemasons or in the same exclusive golf club wasn't as far as I know made public.

Most managers appoint brown-nosing yes men in favour of those that may compete for their jobs in the near future. Only the really talented like Steve Jobs are above this catch the losers and sack the talented. He was a founder member and would probably never have made it through the system to the top.
 
The problem in the UK is not the scale of the rewards, but the fact that they often come without necessity or justification.

It's fine to pay top dollar to attract the best people. But there's no need to pay top dollar to attract the kind of useless chimps that fill so many top positions in both the private and public sectors.
 
the MRP was a strong centre party of the Fourth Republic and the French expression of Christian Democracy. After winning about 25% of the vote, it declined in the 1950s, losing strength to both right and left factions. In 1966 it was merged with other right-centre parties to become the Centre Démocrate, which won only 13% of the vote. By 1968 it had become little more than a political club.
 
Pazienza said:
The problem in the UK is not the scale of the rewards, but the fact that they often come without necessity or justification.

It's fine to pay top dollar to attract the best people. But there's no need to pay top dollar to attract the kind of useless chimps that fill so many top positions in both the private and public sectors.
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It used to be an honour to look after a company and its employees properly.

Not any more now that society has become Americanised.

The morals of the mafia rule OK
 
Pat494 said:
It used to be an honour to look after a company and its employees properly.

Not any more now that society has become Americanised.

The morals of the mafia rule OK
Click to expand...


I think it is more pure capitalism and human greed rather than Americanisation...

It is all about devising a system which is equitable and efficient and also transparent such that all the players have a level playing field. We need control and checks with good punishment in place for politicians, bankers and lawyers - as well as common people...

Right now the system is well and trully bent.
 
Atilla said:
I think it is more pure capitalism and human greed rather than Americanisation...

Right now the system is well and trully bent.
Click to expand...

Sounds like the " greed is good " philosophy to me.

Much of the anti-Americanism around the world is all about stopping this pigsty-culture from swamping centuries old customs, with money grubbing, soft porn, rock music, crime etc.
 
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Atilla said:
I think it is more pure capitalism and human greed rather than Americanisation...
Click to expand...

I think it's more rigged system than capitalism. Capitalism would filter out the sh1t but as we said earlier the inst. investors are happy to play along and do a dance for some reason.
 
Atilla said:
I think it is more pure capitalism and human greed rather than Americanisation...

It is all about devising a system which is equitable and efficient and also transparent such that all the players have a level playing field. We need control and checks with good punishment in place for politicians, bankers and lawyers.........
Click to expand...

Don't forget Premiership managers.


dd
 
While we rape and pillage the earth, the human race will continue it's shenanigans. And with regards to over paying people, it all comes back into the system in some proportion; their purchases paying for shop assistants salaries or their taxes paying for a bunch of people on support. So jump on the band wagon. Start a company and make use of your time. Worrying about this **** will only demoralise and depress you. And above all, realise that salary is all about supply and demand. Which surely is why you are on this website.......
 
D70 said:
. And above all, realise that salary is all about supply and demand. Which surely is why you are on this website.......
Click to expand...

Right on D70.

The demand is here, it's just the supply is a little fragile.
 
It wouldn't be so bad the bank bosses getting huge sums if the banks are doing well.

Well imo they haven't done well.

The old argument by the bonus bankers of - if they cut the huge wages and bonuses the talent will go elsewhere. I would like to ask what talent ? They cocked it up pretty badly by being too incompetent and greedy. That sort of talent , we would be better off without. Good riddance, boy !
 
Pat494 said:
It wouldn't be so bad the bank bosses getting huge sums if the banks are doing well.

Well imo they haven't done well.

The old argument by the bonus bankers of - if they cut the huge wages and bonuses the talent will go elsewhere. I would like to ask what talent ? They cocked it up pretty badly by being too incompetent and greedy. That sort of talent , we would be better off without. Good riddance, boy !
Click to expand...


I made this suggestion before and still fail to see why the situation was handled as such. Well I do but here it is.

People are unable to meet their mortgage payments so instead of helping people who need the help ie the debtor, bailouts were given to the creditors ie the banks.

What the **** was that all about???

Here is the alternative scenario....

Governments - tax payers pay the mortgages of the people who can not afford their mortgages - thus banks remain afloat as loans remain serviced.

The level of funds would not have been in the billions and people no longer in massive debt will have regular money to spend. Social cost of maintaining would be less and once economy picks up and people find jobs, they can in due course pay back loans.

Banks could have approached shareholders - as prescribed in capitalist system to raise funds if required.


This certainly is a no brainer to me but I fail to grasp why peoples homes are taken away and those same very people have to pay a higher tax in due course to pay for the money given to the banks who have no social responsibility at all.


We need to have a revolution that's for sure. I support all the strikers and the unemployed and all those people who have had their homes taken away from them. Bankers are parasites, the government and politicians and judicial system are bent *******s and the army is off fighting daft wars killing people who pose no danger to the UK instead of sorting out the fockers here building duck ponds in their back yard... :mad:
 
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