Since the start of the crisis the CEO wage has always been a subject of discussion.
President Obama’s suggested a $500,000 cap for the salaries of executives at companies receiving government support, this is a good start, but there is still a lot of work to really control these outrageous wages.
“You Try to Live on 500k in This Town” was the daring headline of The New York Times Style section after Obama proclaimed The 500k ceiling. For average working people 500.000 USD might seem a lot of money, but for CEO's who have an average of 2 to 3 million USD a year, this 500k proposal can be a disaster.
To justify this proposal there has to be a drastic change is the corporate culture of today. A generation ago, the average CEO of a big company earned 15 to 20 times the salary of the average worker; in recent years, this salary has grown to 300 to 400 times the average worker’s compensation.
These remunerations are a part of our business culture, and it'll take a long time to change this mentality.
Jord Willo
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