Originally Posted by
Roj approved
This is so true, the same people that push everyday to save “cost” ie: wages, also say at Executive level “if you don’t pay the market rate, you won’t attract the talent”. Look at the disparity between Executive salaries vs worker’s salary in the last 30 years.
https://www.epi.org/publication/ceo-compensation-2018/
I despise that vacuous piece of garbage. Exactly what talent is that?? Look at Telstra and the 'import' that they brought from the US several years back, one decent former QF CEO (Menadue) apparently resigned from the Board of Telstra in disgust at the way it was being run, the CEO in question who's behaviour and that of the management led JM to do that had a string of corporate disasters in his wake, but the LNP government at the time paid him tens of millions. How could they possible NOT have come across his previous disasters??
I don't know what talent it is that they are looking at but IMHO, over the last 30+ years, the quality of management at senior level has declined significantly and the remuneration has risen exponentially.
This is now a 'club'. Don't bother working your way up and knowing something about the business anymore (and yes, pilots, engineers and ground ops people can make good CEOs), because that job is reserved for someone who fits a whole different set of parameters and once they're in, regardless of performance, they either get a golden parachute or stay as long as they like, followed by which they then spend the rest of their comfortable lives being 'invited' to serve on the Board of various companies. I seem to remember someone who drove one of our airlines into the ground, who then got an AO and several Board seats as 'reward'. Yet another, who came into a now defunct airline right at the end when it was already sinking, found it very hard to get a job afterward.
Now, incompetence and even billions in accumulated losses are no barrier to future reward.