this post was submitted on 02 May 2024
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This always comes down to the fact that labor is competitive. Why pay someone $200k/yeae when someone will do the job for $80k/year? Competition drives the prices of labor down. Maybe there needs to be better regulation for labor competition like corporations enjoy.
What I don't understand is why does competition matter for workers but somehow not for CEOs? I kind of understand and agree in the free market to an extent - if you're fine with hiring a dev for $100 instead of another dev for $1000, and you're okay with the difference in quality / time / etc. then go for it. But where is all this competition happening for CEOs?
Surely someone must be as qualified as Bitchai and willing to do the same job for a measly 100 million a year instead of his 200 million.
Ceo pay is advertised and used against each other to get top dollar. Lowers like us have out pay hidden so companies can low ball without us knowing. That's what needs to change. It should be law to be advertised pay rate so the lowballers get exposed and no one applies, forcing pay to go up.