Was $700 an hour too much?

[MoeMag]

Way outta control, we need a modern day robin hood

Ya know... that sounds all good and what not. But out side of Sherwood Forrest that is sadly called communism.

[Hilltop Customs]

Ya know... that sounds all good and what not. But out side of Sherwood Forrest that is sadly called communism.

or if it is done voluntarily, a conscience.

[custar]

To me, the more realistic questions are:

1. Is he worth that, or can someone else do what he can do for less?

2. Will the return for that kind of pay justify the pay?

It reminds me of an old trade school anecdote. A company has a drastic problem with it's <insert key machine here>. The in-house mechanics try valiantly but cannot right the problem. The company calls in a consultant who says he/she can solve the problem, but it will cost $10,000.00. The company is over a barrel but can't figure out any other way to solve the problem. The production process is at a standstill, and customers are angry at the delay. Reluctantly, the company agrees to the pay demand. The consultant comes to the company's premises and <insert mind-blowingly simple repair to the machine, usually inputting a code or flipping the right switch), and, presto, the machine is back up and running. Company execs protest the $10,000.00 is unjustified as the consultant literally spent only five minutes, and the repair was mind-blowingly simple. The consultant points out it took him years/most of his adult life to gain the knowledge of that simple repair, knowledge the in-house mechanics didn't have before the consultant came onto the premises. Also, the company lost far more in revenues by delaying hiring him in favor of giving its much lower paid in-house mechanics time to solve the problem.

custar

[teufelhunden]

695 an hour is a bit of a bargain, methinks. whoever it was did the math, 1.5 mil a year?

it's called offering something that either other people don't or doing something better than other people. that's how you can charge that much. guy is obviously worth it because likely wamu shopped around and that's what the market is looking for.

the bulk of you probably think executives or whatever catchall you want to use fly around and hang out... in reality, a lot of them end up working 3000 hours a year, are constantly under exceptional stress, etc. people earn it, and sorry if you're jealous

/only bills at 90/hour

[Lohman446]

I am an executive (granted in a small town). A lot of "solutions" come to me at 2:00 AM in the morning when I am laying in bed. That 3000 hours a year would be an easy year.

And I still think its a ridiculous amount of hourly wage. As I read it it was not hiring the company, it was noting where he had come from. Maybe I read it wrong.

[teufelhunden]

it doesn't read like it, but it makes sense that he would be hiring the company

[questionful]

http://www.youtube.com/profile_play_list?user=machbar

[Hilltop Customs]

http://www.youtube.com/profile_play_list?user=machbar

bookmarked, any hints to whats in the 23 youtube videos? lol.....sorry debate drinking game has me a little tipsy


edit: nvm question answered within first 50 seconds of first video....have to watch it tomorrow between classes

[questionful]

It addresses one of the issues that I think epitomizes the problems of capitalism, which every day now are becoming more and more apparent.

Something else to watch that looks at capitalism from a point of view that, due to the abundance and success of propaganda in this country regarding capitalism, is fairly rare as far as I've noticed:

The Power of Nightmares

[Hilltop Customs]

I'll be sure to check both your links out in more depth tomorrow.....too busy trying to read a case study right now, but I swear these words seem to be moving around on the pages.

[SCpoloRicker]

It addresses one of the issues that I think epitomizes the problems of capitalism, which every day now are becoming more and more apparent.

Something else to watch that looks at capitalism from a point of view that, due to the abundance and success of propaganda in this country regarding capitalism, is fairly rare as far as I've noticed:

The Power of Nightmares

I miss my undergrad years...

[sffudapparel]

People should be paid what the market dictates. If you complain about working for 8 dollars an hour at McDonalds then maybe you should consider a different "career." This guy didn't get where he did today by complaining that his job at starbucks isn't paying enough. He probably went to school, got a good education and put in loads of hard work. Why shouldn't he be rewarded for his talents? If both parties agree, why is it any of our business?


And also, the highest paid CEO in 2007 was Larry Ellison of Oracle at $84 million. Take 7 hours a day out for sleep, and that's $13,500 an hour, $225 a minute, $3.75 a second. I'm not complaining about it, because if the company want to pay him that's there problem. It's not a smart business move on their part but who am I to criticise someone who has moved up the ranks to get such an amazing salary? If you were making 100 dollars and hour working your tail off and somebody who made 8 dollars an hour flipping burgers came up to you and said "new law says that you have give me 1/3 of your salary to make things more even" would you be fine with that? There's two sides to everything.


There's no secret to how to get a good paying job. And if you don't like it or don't want to do it, don't come complaining to those who put in everything they can to get there.

[Lohman446]

Again I will ask the question. What exact service do you provide to dictate that kind of wage. I am not discussing return on investment or even stock options. What does one do to justify the money they are taking?

Its funny that Americans just accept high wages like this, but complain about prices of consumer goods and services at the market.

FYI - not making $8 an hour flipping burgers
FYI - I make more than Behemoth too

PS College educated

People should be paid what the market dictates. If you complain
about working for 8 dollars an hour at McDonalds then maybe you should consider a different "career." This guy didn't get where he did today by complaining that his job at starbucks isn't paying enough. He probably went to school, got a good education and put in loads of hard work. Why shouldn't he be rewarded for his talents? If both parties agree, why is it any of our business?


And also, the highest paid CEO in 2007 was Larry Ellison of Oracle at $84 million. Take 7 hours a day out for sleep, and that's $13,500 an hour, $225 a minute, $3.75 a second. I'm not complaining about it, because if the company want to pay him that's there problem. It's not a smart business move on their part but who am I to criticise someone who has moved up the ranks to get such an amazing salary? If you were making 100 dollars and hour working your tail off and somebody who made 8 dollars an hour flipping burgers came up to you and said "new law says that you have give me 1/3 of your salary to make things more even" would you be fine with that? There's two sides to everything.


There's no secret to how to get a good paying job. And if you don't like it or don't want to do it, don't come complaining to those who put in everything they can to get there.

[teufelhunden]

This guy is obviously providing corporate restructuring related services, gleaning from the story. He obviously has both experience and expertise in the field. He'll actually likely take an officer's position within the company, making him liable for what he does.

That's what he gets paid for.

[Lohman446]

This guy is obviously providing corporate restructuring related services, gleaning from the story. He obviously has both experience and expertise in the field. He'll actually likely take an officer's position within the company, making him liable for what he does.

That's what he gets paid for.

*IF* liability is related, as in his firm taking it, and there is an actual risk of liability (himself or company) than it becomes a different story.

As I read it that was a simple wage.

At that point a service worth far more than a wage is provided