IBM CEO pay jumps 23% in 2023, average employee gets 7% IBM chairman and CEO Arvind Krishna bagged a double digit pay bump in 2023 as he met the major financial objectives outlined by the board. The average compensation of employees that helped Big Blue achieve those targets? Up by single digits. Krishna’s total compensation went up 23 percent year-on-year to $20.398 million, …
Not so sure about that.
"On average" - I'd be more willing to believe the higher up the food chain, the bigger the compensation, the less to go around for the minions. Below a certain grade, managers just used to get a pot of money to share out between their direct reports. Some got more, some got less.
Head in the oven, feet in the freezer - on average, I am warm.....
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When the CEO gets 23% and makes so much more than everyone else, it jumps the average employee compensation up. A lot.
(There's a reason arithmetic mean isn't very useful for most things people use it for).
What would be more useful is the median increase of employee wages at each of the various pay bands.
Except it's no problem. The board's pay will be linked to the CEOs. They have little interest in seeing a CEO paid less, because that means they'd be paid less.
Whether the CEO is taking the right decisions for long term value is unimportant to the board, or indeed Wall Street.
Audio and video recordings of Krishna have surfaced with him directing IBM to engage in blatantly illegal (in the US) discrimination against white workers. IBM has a long and inglorious history of discrimination lawsuits and government enforcement actions, and he just set them up for another round.
I would just like to observe that some people believe that hiring quotas are a bad thing, and others believe they are a good thing. This is a political, not a legal, difference of opinion, and being against such quotas is a typical position of extreme libertarians, of whom there seem to be more in the USA than in most of the world (IBM being an international company).
None of which makes Arvind's salary increase any less disgusting.
While i agree hiring quotas are fundamentally a political issue they can although become a legal issue. If the law says you must treat all races/ethnics equally and you refuse to hire someone because your quota for white caucasian males is already filled a judge may rule that you're breaking the law.
Having a different political opinion doesn't allow you to break the laws as they are currently in the books. You can decide you want to be a political activist and ignore the law but then you should be prepared to deal with the consequences (at least the minimum fine as set forth in law).
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