It’s likely that few are just handed insanely high paying CEO positions. Attaining such success takes hard work and effort.
It takes a specific type of personality that can fight, endure, and constantly be “on” to fulfill a job like this.
Some of these people never stop from morning until night. But so do working moms and millions of other hardworking Americans who don’t get paid millions of dollars each year.
A former banking CEO tried to get people to understand the plight of the high paid CEO in an interview for his new biography and Twitter was not having it.
Dr. David Morgan, the former CEO of Australia’s Westpac Banking Corporation, told his biography’s author Oliver Brown that while CEO’s are “ridiculously overpaid” the job causes them to “literally weep,” The Age reports.
“Most people don’t talk about it honestly,” Morgan said.
“Yes, CEO life is very glamorous. You’re recognized, you’re given the best seats in restaurants, and you’re ridiculously overpaid. But you need stamina. As the leader, you rarely play the grand final, but more an endless succession of semi-finals,” Morgan said.
“You can hardly ever relax, and that creates intense strain. Behind closed doors, some CEOs literally weep.”
He made $10 million in 2007 in his CEO position.
Upworthy broke that down for us. That means he made $833,000 a month, $192,000 a week for a 7-day work week, and $27,000 a day. If he worked a 16-hour day, every day, that would be $1,700 an hour.
But it’s a hard job right? Though he did admit that CEOs are “ridiculously overpaid,” no one wanted to hear it.
There are plenty of people who work several jobs and still make less than $40,000 a year.
These people also don’t take vacations and don’t get to sit around and relax. The difference is that they have to weep over how they are going to pay the rent, how they are going to fix the car, and how they are going to feed their children.
They’re not crying about pleasing shareholders or saving face in front of their colleagues. They’re crying over their survival.
Yet, CEO pay is insanely higher compared to the average worker’s pay in both Australia and the U.S.
According to The Sydney Morning Herald, the typical pay of an ASX100 CEO is $4.32 million which is about 52 times more than an average worker makes at $83,486.
In 2016 in the U.S., CEOs in the top 350 firms made an average of $15.6 million a year.
That’s 271 times more than the average American worker who makes about $58,000 a year, CNBC reports.
In fact, many of the decisions made by CEOs are the very reason why so many average workers can be found weeping in the bathrooms stalls of their jobs.
Some might even argue that they are also responsible for creating the toxic culture which makes CEOs like Morgan “literally weep.”
I’d like to say that the reactions on Twitter were hilarious but they were mostly just sad.
“I’m sure just as many teachers and nurses ‘literally weep in private’ too, but for a fraction of the money,” said one person on Twitter.
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“I had daily panic attacks from some of the jobs I worked. Labor I did that these guys got a bigger cut of the profit from than I did. Jobs I had to work to keep from defaulting. CEOs are wealthy enough they can retire if the pressure is too much for them,” said another.
“I got $5 in my account for the next week and have wanted to kill myself since August but can’t afford to see a psychologist but I’m sure *checks notes* earning extreme wealth while fucking over your workers is hard too,” and another.
What both CEOs and the average worker can probably agree on is that the workforce has lost its humanity for the sake of profits and we all look forward to seeing that change.
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