Big Rewards SHOULD equal Big Expectations
I became increasingly agitated as I heard news about the big car company execs who cut their salaries to $1 a year… After withdrawing many millions in salaries for the past few years and not to mention the bonuses they will probably pay themselves regardless.
Marie-Claire appears to agree with how I believed the way the world worked:
If you are a CEO, you have to EARN the big bucks.
I have no problem whatsoever with massive salaries. If one person can contribute that much value to a business, they deserve to be rewarded.
But when they DON’T add that value, and drive the company into the ground… They should GIVE THE MONEY BACK (I would say ‘not take it in the first place’, but these people appear to pay themselves in advance) AND they should be fired.
I am wondering if we have moved into a parallel universe. If you are a CEO and you make a habit of letting companies go to the dogs, you should NOT BE A CEO. I’ve even seen this on a smaller scale, with people who are clearly not CEO material being given numerous breaks, and CEO style salaries… while doing a continuously bad job running the ship.
It’s plain stupid that we now expect salaries to be dis-jointed from performance. The label ‘CEO’ alone does not justify a salary.