Summary: CEO pay dipped in 2022 but remains enormous compared with the pay of other workers. CEOs are granted massive compensation packages by corporate boards because of their bargaining power, not because of their skills. CEOs’ exorbitant payouts have far outpaced the pay of typical workers over decades.

23 points

We live in a fucked up world.

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17 points

Replace CEOs with AI first

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14 points

We would, but we haven’t been able to design an AI system that’s sufficiently sociopathic.

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10 points

Damn, not even the teen chatbot from Microsoft that turned into a Nazi?

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11 points

Even Tay is too compassionate to be a CEO.

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6 points

I question these numbers. I don’t disagree there is entirely too much disparity between lowest and highest paid workers, but just cannot believe 15.3% is accurate. Just looking at minimum wage in 1978.

$2.65/hr in 1978, and 15.3% growth of that puts it at $3.06.

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10 points

They are using the term “Private-sector production/nonsupervisory workers annual compensation” which has a number of $58,680 for 1978??? Table is about a third of the way down the page. That seems really high. Compared to 2022 of $67,700 (which feels probably pretty close) that’s where the 15.3% comes in. I’m not really sure that makes it any clearer though but does explain why minimum wage doesn’t fit with the % change.

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5 points

I’ll agree with being very surprised if the average non-supervisor worker salary was $56,680 in 1978. Running that number in a couple pages comparing what that is in today’s dollars is over $250k

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5 points

Are you sure they haven’t already adjusted the 1978 figure for inflation?

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4 points

1978 was when baby boomers were entering their 30’s. Maybe that’s why the $58,680/yr figure sounds high. It’s my understanding that boomers made great money compared to newer generations (though I could be wrong about that; I’m no expert).

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8 points

Inflation. 1 Dollar in 1978 would be worth abut 4.71 Dollars today. So the minimum wage back than would be about $12.50 in todays money.

I often forget about inflation too but it’s actually quite crazy what a huge effect ithas on the value of our money.

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2 points

They stole our money.

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