The Wall Street Journal reports today on the big-company CEOs who made the most money in 2018. The big winner is David Zaslav, CEO of Discovery, whose TV channels are apparently doing pretty well. He raked in $129.4 million last year. The highest paid woman was Mary Barra of General Motors, who earned $21.9 million. This puts her in about 40th place. Anyway, this seems like a good excuse to revisit CEO pay. Based on the Journal’s data, here it is from 2010 through 2018: Adjusted for inflation, median CEO pay has increased by 21 percent since 2010. In other words, it’s pretty much tracked the growth in GDP. That might seem fair, but for some reason it doesn’t apply to the rest of us. Blue-collar workers have seen a pay increase of only 3.5 percent over the same period. You might wonder why corporations are so willing to pay their CEOs big money for doing nothing but coasting along on an expanding economy, and you’d be right to wonder that. I’ve long thought … [Read more...] about Why is CEO pay growing so much?
Why ceo earn so much
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files/File Photo (Reuters) - Chief executive officers of some of America’s largest banks, including JPMorgan Chase & Co, Bank of America Corp and Citigroup Inc, on Wednesday testified before Congress, where they were grilled on a wide range topics. The discussions ranged from banks’ ability to safeguard the financial system, their role in financing gun-makers, to diversity and compensation. Citigroup CEO Michael Corbat faced tough questions from Representative Nydia Velazquez, a New York Democrat, on the discrepancy between his pay and the average worker’s salary. “Citi has the dubious distinction of having the largest discrepancy between CEO compensation and median employee salary of any other institution present today - a remarkable 486:1 ratio,” Velázquez said. When asked how Corbat would feel if … [Read more...] about Factbox: Big bank CEOs face the heat over pay disparity at Capitol…
This story is part of Fast Company‘s Gender Pay Gap package “Short Changed.” In honor of Equal Pay Day, the symbolic day of the year when women’s pay has finally matched the previous year’s pay for men, we are exploring elements of pay inequality though the personal stories of women across industries and career stages. Click here to read the whole series. No one ever taught me about negotiating, and for the first several years of my career I was so happy to get any job offer that when the hiring manager stated the salary, I simply said, “Okay, thank you.” The idea that I could ask for more, that my skills and talent were worth more, never crossed my mind. There is a belief that most women behave like I did in those days–that we simply don’t negotiate. This is one one of the prevailing excuses for why the gender pay gap persists. And while it may be true that men grow up having been taught a different approach to money, the gender … [Read more...] about Why women are still making so much less than men
Given the rage freely flowing from America’s largest theater operator, AMC, toward MoviePass — the controversial, defiantly inexpensive subscription ticketing service that allows filmgoers to attend one movie per day, every day, for a $9.95 monthly fee — it’s easy enough to forget that until just last month, the two companies were partners in the putting-asses-in-seats business. Amid slumping box-office tallies estimated to be the worst in a quarter-century of summer moviegoing, and on the heels of its own dismal quarterly earnings announcement, AMC blasted the service as a “small fringe player” and “unsustainable” in a widely cited press release in August that also raised the specter of legal action to block subscriptions. Contrast all that with the good ol’ days of 2014, when the two companies heralded a partnership to roll out MoviePass’s $35 to $45 packages at AMC theaters in Boston and Denver on a kind of test basis … [Read more...] about MoviePass Works. Why Is Hollywood So ‘Meh’?
With 24 tracks, clocking in at one hour and 46 minutes,Migos’ Culture II lasts long enough to listen to all of Pink Floyd’s The Wall and still make it more than halfway through The Dark Side of the Moon. Its Number One debut on the Billboard album chart is the latest twist in streaming’s reshaping of music consumption: the rise of mega albums. On Spotify, the duration of the top five streamed albums rose almost 10 minutes over the past five years, to an average of 60 minutes. It’s a trend embraced by Drake (2016’s Views was one hour and 21 minutes), Lana Del Rey (2017’s Lust for Life was one hour and 11 minutes) and Future (his two back-to-back albums in February 2017, Future and Hndrxx, totaled two hours and 10 minutes). What’s driving the trend? “Stacking albums with extra songs is a strategic way to achieve certain goals,” says Malcolm Manswell, a marketing manager for Atlantic Records. In 2014, Billboard incorporated … [Read more...] about Why Are Albums So Long Right Now?