Swiss to vote on executive pay limit

[tay]

Swiss voters are going to the polls to decide on strict new laws to limit executive pay to no more than 12 times the wage of the lowest-paid worker in the same company.

The 1:12 initiative is backed by Switzerland Young Socialists, who gathered the necessary 100,000 signatures to call a referendum.

It is the second time this year the Swiss have voted on top salaries; in March they voted overwhelmingly to curb big bonuses, and to ban golden handshakes and goodbyes.



video report


BBC News - Swiss bosses on vote to decide executive pay limit

 

[lone wolf]

It's about time someone caught on....

Unfortunately, the tie-in to socialism will have the money-hungry up in arms.

 

[IdRatherBeSkiing]

While I support a limit, I don't think 12:1 is necessarily a fair ratio. The guy that makes the decisions is worth more than 12 times the value of the guy who cleans his toilet.

Wonder how many current Swiss companies we can lure to Canada after this gets enacted?

 

[SLM]

While I support a limit, I don't think 12:1 is necessarily a fair ratio. The guy that makes the decisions is worth more than 12 times the value of the guy who cleans his toilet.

Wonder how many current Swiss companies we can lure to Canada after this gets enacted?

The average janitor's salary is around $26,600 according to this information I found.

janitor Salary in Canada | WowJobs

Now, I don't know how accurate it is of course but 12 x $26,600 would be $319,200. What's fair compensation for decision making?

 

[Omicron]

While I support a limit, I don't think 12:1 is necessarily a fair ratio. The guy that makes the decisions is worth more than 12 times the value of the guy who cleans his toilet.

Really... did you know that even during Japan's hay-day, the ratio between top-paid and lowest paid is/was around 7:1, and those being paid 7 time more than their toilet cleaners didn't feel like they were being underpaid?

Wonder how many current Swiss companies we can lure to Canada after this gets enacted?

Some... maybe...

It would be the ones headed by those who think the privilege they earned climbing or conning themselves into top corporate positions is the right to hollow it like a halloween-pumpkin to bonus themselves before bailing from the eviscerated corps to the next victum...

Switzerland would probably be glad to see that type relocate to jurisdictions that have been conned into romanticizing economic-sadomassochism.

 

[captain morgan]

While I support a limit, I don't think 12:1 is necessarily a fair ratio. The guy that makes the decisions is worth more than 12 times the value of the guy who cleans his toilet.

Wonder how many current Swiss companies we can lure to Canada after this gets enacted?

Those execs that are talented will take their show outside of Switzerland... The corps/shareholders and employees will get exactly what they pay for

 

[gerryh]

Those execs that are talented will take their show outside of Switzerland... The corps/shareholders and employees will get exactly what they pay for

Of course, because making 250 - 500 thousand a year just isn't enough. Slave wages I tell ya.

 

[captain morgan]

Of course, because making 250 - 500 thousand a year just isn't enough. Slave wages I tell ya.

Who are you to make the judgement as to what is too much or too little?.. Moreover, all you're doing is arbitrarily assessing value to a person's ability/potential/track record, etc.

.. I can hardly wait for the Swiss to piss and moan about how orthopedic surgeons make far too much and demand that they make the same as a ditch-digger

 

[gerryh]

Who are you to make the judgement as to what is too much or too little?.. Moreover, all you're doing is arbitrarily assessing value to a person's ability/potential/track record, etc.

I see, so how exactly does one decide the worth of another? How does one decide how much someone should get paid?

.. I can hardly wait for the Swiss to piss and moan about how orthopedic surgeons make far too much and demand that they make the same as a ditch-digger

How much is enough?

 

[CDNBear]

How much is enough?

Great question.

 

[captain morgan]

I see, so how exactly does one decide the worth of another? How does one decide how much someone should get paid?

How much is enough?

I have no clue, but YOU are the one that has made the assessment that $250k-$500k is more than anyone needs.

Besides, the easy way around the 'Swiss formula' is to separate the entities and have the Sr. Admin in a 'parent company' wherein you pay the lowest person (probably a son/daughter) 1/12th of the salary that the CEO is looking for.

Won't help too much in the grand scheme

 

[Colpy]

in 2000, the pay of CEOs in the USA reached 531 times that of the AVERAGE worker..............that is insane.

I know I read about one incompetent that made 1659 times the wage of the average worker in his company.

Switzerland, I believe, already made illegal the pre-arranged Golden Parachute.

i think 12 times is cutting it close though.....perhaps 20 times, a nice round figure. Even 50 times would be a vast, vast improvement, and would cut CEO's salaries by over NINETY PERCENT. So outrageous.

I am all for this, actually, although I do think 12 times is WAY too low. And the limit, be it 20 times, 50 times, or even 100 times, has to be off the LOWEST wage paid..........or the CEOs can simply up their salary by raising the salaries of those already on the higher end, thus lifting the average.

For example, In 2012, Gordon Nixon of RBC made 12.6 million............one percent of that is $126,000.....(wow) I would assume the lowest paid bank employee actually makes in the rage of $30,000.............even at a 100 x rule Nixon's pay would be cut by over 75% to $3 million per annum.

Wow.

Just Wow.

 

[gerryh]

I have no clue, but YOU are the one that has made the assessment that $250k-$500k is more than anyone needs.

You have no clue, and because of that no one else should either? How is it determined now what they should be paid? How is it determined now how ANYONE should be paid? Why is that way best?

 

[SLM]

I don't know how much 'enough' is but I can say there is such a thing as 'too much'. What exactly 'too much' is, to me it doesn't come pre-defined in that sense. I would suspect it's a little like that old line about pornography, in that it can't really be defined but you know it when you see it. There is a value to work that is done, as there should be. And I'm not opposed to compensating someone very well for a job very well done, but at some point does it not become ostentatious?

 

[JLM]

Swiss voters are going to the polls to decide on strict new laws to limit executive pay to no more than 12 times the wage of the lowest-paid worker in the same company.

The 1:12 initiative is backed by Switzerland Young Socialists, who gathered the necessary 100,000 signatures to call a referendum.

It is the second time this year the Swiss have voted on top salaries; in March they voted overwhelmingly to curb big bonuses, and to ban golden handshakes and goodbyes.



video report


BBC News - Swiss bosses on vote to decide executive pay limit

1:12 is still too steep, when I started in the work force the ratio was 7:1. Greed is going to bring about the demise of the human race.

 

[captain morgan]

You have no clue, and because of that no one else should either?

Unlike yourself, I don't see this as an issue. Again, unlike yourself, I am not going to make a broad brush assessment of what is too much money.

How is it determined now what they should be paid? How is it determined now how ANYONE should be paid? Why is that way best?

The market makes that determination.. You and the industry that you work in is an excellent example.

Who is to say if you make too much or too little?

 

[Omicron]

Who are you to make the judgement as to what is too much or too little?

That's easy... when it's more than anyone could possibly spend on consumables.

It's like what Winston Churchill said about nuclear weapons... you only need so many to destroy the enemy... after that, it just makes the rubble bounce.

.. I can hardly wait for the Swiss to piss and moan about how orthopedic surgeons make far too much and demand that they make the same as a ditch-digger

You like to see people in labour jobs suffer, don't you. You come from some place where there's lots of unemployed people and you get a kick out of forcing them to work harder and harder for less and less, all in the name of the glory of capitalism, right?

Actually, if you knew anything about Swiss, you'd know they wouldn't say an orthopedic surgeon should have his income cut to that of a ditch digger. They'd say the ditch-digger is doing a job nobody else wants, therefore his income should be elevated.

 

[JLM]

I see, so how exactly does one decide the worth of another? How does one decide how much someone should get paid?

I personally think every job should be evaluated and given a rating index #. This should be done by a panel of a sampling professionals in professions/trades across the entire employment spectrum. Job characteristics should be identified and weighted according to their importance in various jobs. These might include amount of training required, amount of knowledge, inherent dangers, working conditions, responsibility, communication skills, public relation skills, inherent pressure to obtain optimum results (brain surgering) etc. etc. Each region should be assigned an index tied to the minimum cost of living. Then the rating index # can be multiplied by the minimum cost of living.

 

[captain morgan]

That's easy... when it's more than anyone could possibly spend on consumables.

Really? According to gerryh, $500k is far more than anyone needs... Of course, you lose 1/2 to income taxes.

Care to take a look at what a house costs in any major city these days?

You like to see people in labour jobs suffer, don't you. You come from some place where there's lots of unemployed people and you get a kick out of forcing them to work harder and harder for less and less, all in the name of the glory of capitalism, right?

It took you no time at all to display your position in that you have no argument at all, didn't it?

No position, no argument, no logic, so next step, put words in someone's mouth and play the victim card.

I did expect this from you, but thought that you might have some kind of sad argument

Actually, if you knew anything about Swiss, you'd know they wouldn't say an orthopedic surgeon should have his income cut to that of a ditch digger. They'd say the ditch-digger is doing a job nobody else wants, therefore his income should be elevated.

This vote item is being proposed by a socialist faction there.. Are all Swiss hardcore socialists?

 

[Omicron]

This vote item is being proposed by a socialist faction there.. Are all Swiss hardcore socialists?

Of course not, and I can tell you've never spent any actual time there.

In any case, it would be funny watching you in a discussion with Warren Buffet, the second richest man in America.

Did you know he's only going to give his offspring 1% of his fortune, because he figures even that is so much it would be impossible for his kids to spend it all on more than they could possibly consume?