At What Point Is It No Longer About The Folding ?

[Bazile]

Do you think that this Guy is really overly concerned at this pay cut and will be seeking alternative employment ?

http://www.bbc.co.uk/news/business-39512035

Of course this guy's salary is ' peanuts' , ( well perhaps a bit bigger ) - compared to some .
More generally , do people who are paid vast salaries , do their job for the money alone , and would be bothered about the odd million or two drop in their pay ?

At what point is it no longer about the folding ?

What are your thoughts ?

[TWR]

No-one is worth that sort of money.

[emmie]

can't believe his salary before the pay cut, can't see him changing jobs any day soon, not with that cash flow.

[Bazile]

My first para was t-i-c

[andy-hughes]

I think the oft-trotted out phrase 'We have to pay the top salaries to attract the top people ...' has been used for far too long, given that a large number of executives, and here is one, are effectively paid for failure.

I would have a system based on this premise -

"Ok Mr Bigshot, I perceive that you are the best man for the job, and I want you to work for me, so I will pay you £10million for your first year.

But before you get excited, know this. If you don't increase profits and productivity to the level that my board advise, then I will take nine-point-nine million pounds back from you, and sack you.

Now that should concentrate your mind into justifying your reputation which has brought you into my orbit. Of course, if you are as good as you should be, to justify that level of salary, you will have no difficulty at all in reaching the level I demand, and I shall then re-negotiate your salary for the next year - that is how we are going to do it.

I fully expect you to accept my seriously generous terms, and if you have any queries at all, please send in the next candidate on your way out. OK - over to you ... "

Most people at the bottom end of these multi-nationals get fired if they can't hack it - why should that perfectly reasonable premise not apply at the top as well?

[Bazile]

Some people believe they are worth what they are paid ( for example )

https://www.theguardian.com/media/2016/apr/18/sir-martin-sorrell-im-worth-every-penny-im-paid

[andy-hughes]

Bazile - I'd be inclined to agree.

If you have taken a company from the floor to the stars over your working life, and taken serious personal financial risks to do it, then you deserve to be rewarded.

What I can't abide is people like the directors of Camelot, who pay themselves huge salaries. Where is the risk in lottery? It's the nearest thing to a licence to print money there is!

If you are genuinely employing the 'top talent', and they are delivering by dint of their business skills, then fine, no problem, but if you have some suit who sits there and watches the money roll in, then takes an eight-figure bonus, then that is immoral.

But that again is not as immoral as the suit who watches his organisation fail year on year, and still pockets the eight figures - and that goes for any National Health executive anywhere.

[Bazile]

I agree about Camelot - easy money

[Peter Pedant]

when the medical director of CMFT was trying to cut all our wages - I asked him how much he paid himself
and when he demurred
I snarled ( sniffed actually) in a tired tone "doesnt matter - all you will get is another FOI inquiry" so he said a whopping eye watering £214 000. I nastily asked him - are you gonna get more than £214k if you pay me less than my usual whack ?
( the union rep said later - yes almost certainly)
I retired soon after

and my god he thought he was worth every penny

if you do a management course - mine was 1994
a long the way you will do satisfiers and dis-satisfiers

jesus I cant recollect any satisfiers - anyway - they satisfy and if you double it - productivity goes up. So double the satisfier and double the productivity kinda thing

dissatisfiers - if they AREN'T there - you are dissatisfied but if you double it - there is no further effect
So dissatsfiers are really dissatisfied-if-not-there - we called them all-or-none and the modern adjective now is "binary"
clean bogs or towels in the bogs are an example
cleaner bogs dont have an effect so long as they are er you know clean. - towels have no further effect if you have embroidered towels ....

and the whole point of that part of the course is.....
wages are a dissatisfier
so long as you get them - lots doesnt make you more productive

so you have put your finger on the point buhzeel.

and whenever I read of amazing whacks that people pay themselves
I think of my mgt course of 1994 ( in which I did rather well - IMLT or something - someone who failed rang me up and asked how he could pass the retake.... ) - oh no pay rise of course !

[Bazile]

Feel free to also give your opinions as well, on the question

//More generally , do people who are paid vast salaries , do their job for the money alone , and would be bothered about the odd million or two drop in their pay ?

At what point is it no longer about the folding ? //