Compensation Report: Congress to Legislate Pay?
August 25th, 2008 | Posted in Compensation Report, Blogroll
Is $84 million too much for one year of work? We won’t weigh in on Oracle CEO Larry Ellison’s recent pay package, but it seems that there is momentum building for Congress to engage in the debate. The Christian Science Monitor offers dizzying statistics (the average CEO is paid $10 million+, 344 times what the average worker earns; 30 years ago, CEOs were paid 40x an average worker’s salary) and joins a chorus of Americans calling for change. Is it possible that by the time today’s MBA aspirant is a CEO, Congress will have a hand in his/her compensation decisions? The good news is that this is a long way off and that in an election year, few politicians will want to upset power players and major donors.
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