Chan Lowe by Chan Lowe

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  1. Norman

    NormanGenius_badge said, 26 days ago

    These people should be paid for PERFORMANCE, get a small starting salary like everyone else then get increases as you prove yourself. This should apply to professional sports also… you get the pay AFTER you perform.

  2. ReasonsVentriloquist

    ReasonsVentriloquist said, 26 days ago

    Norman,

    Paid for performance is what causes all the trouble.

    If you are paid based on how well your division does in absolute terms this year then you have every incentive for swinging for the fences EVERY time you are up to bat.

    What happens next year is of zero concern to you this year in that you’ll either figure something new out by then or you’ll switch jobs to a new firm and take a gigantic bonus based on last years numbers or you’ll get fired so your firm can pay a gigantic bonus to the guy they hire to replace you.

    I actually had a CEO tell me just three weeks ago how bad it was for some of his people who only got 85% of their bonus in 09 (the company’s parent had been forced into a merger by the FDIC). He thought that the room of people he was speaking to would find that mentally salubrious (meanwhile the majority had taken a 45% cut in income).