Edit: I just did a bit of research and didn't come up with a lot. I found this example [1] where the CEO's total compensation is $414k. That doesn't seem all that high...
[1]:https://givefreely.com/charity-directory/nonprofit/ein-57066...
In 2011 they made 260k€, which was at then time about 50% more then our prime minister made. Which is used as a norm to limit how much you are allowed to make when working for public services.
I mean to really get to a mansion and multiple holiday houses and a bunch of fancy cars you need to work the job for like 15 years, but still. In NL (where I think GP is from) earning that kind of money qualifies you as "seriously rich". Even more so if the salary got inflation-adjusted since 2011.
Someone making 3x a normal salary is not excessive by any means.
Either way, that’s kindof disconnected for the CEO of this bloodbank. Their opportunity cost is quite high. They choose to work for comparatively low pay, but have a positive impact on the world.
i do think it's more likely that the executive class has a vested interest in keeping their own pay high (not just CEOs, but board members as you've mentioned), and they've got a lot more class solidarity than the rest of us, though they'd never put it that way - it's just The Way Of Things, you know? divide and conquer.
i should maybe mention that i'm a public employee and my "opportunity cost" is also relatively high, but... hell is hot, and i want to be able to sleep at night.
If that correlation doesn’t exist, then investors should be able to easily drive CEO comp way down.
That's what we have eg corporate raiders for.
Since CEO is with them all the time, it follows they get the most.
There is a good theory on why CEO's are paid more than they're worth called tournament theory.
A person in an upper layer of a hierarchical organization is paid for the value they provide PLUS an amount that incentivized anybody below them to reach that layer. If everybody is paid just for the value they provide, they wouldn't have a reason to try and reach higher layers and they would minimize work. After all, we cannot assume the value a person provides goes up in higher layers.
This additional pay bubbles up in larger organizations to exorbitant levels for CEO's.
Entry level engineering (any type): 80k minimum
Entry level software engineering: 120k minimum
Multiply by 1.5x for high cost of living area (Bay Area, New York, Boston, LA)
Multiply by 2x for FAANG in HCOL area
Levels.fyi gives good estimates of software eng pay bands above entry level. Non-software almost always makes less :/
Their CEO makes $3 million, most of their executives above $400k.
https://projects.propublica.org/nonprofits/organizations/131... (look under Compensation)
Fuck this shit.
They also award them bonuses.
They are so bloated that they invest in PE funds with their spare cash.
Maybe not that high by SC/HN standards.