Anonymous #1 6w

earning 7-8 figure salaries is not working class

13

Anonymous #1 6w

A CEOs “work” is telling people what to do and meeting other people in fancy settings

16

Anonymous #2 6w

I’m sorry I thought the dividing line was working/owning

-4

Anonymous #1 6w

It’s the type of labor

7

Anonymous #1 6w

And the compensation for it

7

Anonymous #3 6w

Okay, so how much compensation can you receive while still being part of the working class? What types of labor exclude you?

3

Anonymous #1 6w

Generally the ones where you make enough to buy a politician’s votes if you really wanted to

1

Anonymous OP 6w

How much is that?

1

Anonymous #1 6w

It depends. Historically speaking it was manual laborers. In the modern age you could probably include low level white collar jobs. It’s a factor of how much of a physical/mental toll their body takes in proportion to their compensation. For example: CEOs generally make 200-400x their workers pay. If you have a ceo of a mining company making $30,000,000 a year, but you have operators working underground 12 hour shifts for 6 days a week 100s of miles from civilization making only $100,000/yr

1

Anonymous #3 6w

Wouldn’t it be based on if you own shares of the company?

1

Anonymous #4 6w

Not necessarily. Good key insight, but people invest for different reasons so it doesn’t necessarily mean ownership of the company. Generally speaking though, the largest holders of a company are not working class yes

1

Anonymous #1 6w

So ceos don’t own anything…? Such as stocks and bonds as well as homes…

1

Anonymous #5 6w

65% of Americans own a home and 62% own stock. Is the owning class the majority?

1

Anonymous #3 6w

According to the BLS, the median American CEO salary is $189k per year. It seems unlikely that the typical worker would make 200 times less than that.

1

Anonymous #1 6w

Median is not a good metric. That indicates nothing about the extreme ends

1

Anonymous #1 6w

I already said owning stock doesn’t make you not working class.

1

Anonymous #1 6w

https://www.epi.org/publication/ceo-pay-in-2022/

1

Anonymous #3 6w

Only using the highest 350 data points is worse.

1

Anonymous #3 6w

The mean is $258k

1

Anonymous #1 6w

So it’s OK that ceo pay raises 1,200% while worker pay only raises 15%?

1

Anonymous #1 6w

Also - Chief executives includes all upper management - not just CEOs

1

Anonymous #3 6w

You’re thinking of top executives. CEO literally stands for Chief Executive Officer

1

Anonymous #3 6w

You’re talking about the CEOs of the 350 largest companies. Is their pay worth it? I’m not sure, but the people who own the companies must think so

1

Anonymous #1 6w

I literally looked it up on bls they said it includes all top management like ceo, cfo, coo, etc

1

Anonymous #1 6w

The people who own the companies are the elites keeping this system in place. Retail investors (average people) are a minority shareholder even in aggregate in most companies.

1

Anonymous #3 6w

Why are they keeping the system in place? You said yourself that CEO’s “work” is just telling other people what to do and meeting people in fancy settings. Why are the owners spending so much money on executives that hardly work?

1

Anonymous #1 6w

Because they’re the ones with the ownership. Compensation packages typically include multiple % shares of the company

1

Anonymous #3 6w

Who is giving them the compensation package?

1

Anonymous #1 6w

The board

1

Anonymous #3 6w

Why would the board give them such a large compensation package if they don’t do any real work?

1

Anonymous #1 6w

I’m not saying the ceo doesn’t do any work, I’m saying the work they do is far less taxing on the body and mind than the average worker, but they’re still compensated. The CEO will have the power to drive company direction to an extent. Meaning - they’ll want to pay them as much as they can to make sure they stay aligned with the boards vision

1

Anonymous #1 6w

There is ZERO reason CEOs should have had pay increase 1,200% while you and I only gained 15%.

1