Wednesday, December 14, 2011

While you're tightening your belt CEO salaries rise 30 to 40%

Financial consulting firm GMI Ratings released their findings for executive compensation in 2010. They found that on average, CEO compensation year over year has increased up to 40%.

So while you are figuring out how best to break the news to the kids that they'll be living in shipping crates under a bridge real soon, the big dogs, the six and seven figure a year guys, are giving themselves handsome raises.

And here's a little food for thought; three of the top ten CEO pay packets in America last year went to guys (yes, they were all guys) in the health care business.

There's a moral dilema in the health care business that we don't like to talk about. If the health care company is making oodles of money, why isn't it spending that money providing health care? After all, there's a ton of folks in America who need health care they don't get. Obviously, the less actual health care a health care provider provides, the more money they will make.

When three of the top earning CEOs in America come from the health care sector, you know an awful lot of folks had to go without health care to put them there.

The top banana made $145 million in 2010. About a thousand people missed out on heart by-pass surgery to make that happen.

The health care business. Shouldn't that be an oxymoron?

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