unions

1446 readers

41 users here now

founded 1 year ago

MODERATORS

[email protected]

273

New York Times: CEO gets 36% raise, employees get 3% (union.place)

submitted 1 month ago by [email protected] to c/[email protected]

25 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 13 points 1 month ago (3 children)

Here's what I came up with.

Using Meredith Kopit-Levien's annual pay from the New York Times, at $10.2 million (as stated in the graph.) Then pluging in the 36% raise she was 'given' in 2024(?) and divide by 600 Times Tech Guild members. The following is what I got.

Base salary: $10.2 million 36% of $10.2 million = $10.2 million × 0.36 = $3.672 million $3.672 million ÷ 600 = $6,120 per person

Current average salary: $158,000 (using what was stated in the graph) Potential raise: $6,120 Percentage increase = ($6,120 ÷ $158,000) × 100 = 3.87%

So if the value of the 36% raise ($3.672 million) were distributed equally among the 600 guild members: Each member would receive a $6,120 raise This would represent approximately a 3.87% increase to their current average salary.

[–] [email protected] 18 points 1 month ago* (last edited 1 month ago) (1 children)

Or, to put it another way, at baseline, the CEO does the work of 64 people (10.2m/158k). And after raises, the CEO does the work of 85 people (13.9m/163k).

Wow, what a real bootstrapper. I stand in awe.

[–] [email protected] 6 points 1 month ago

I mean there certainly are some CEOs that do sound like 85 assholes whenever they open their mouth. Elon Musk comes to mind as a good public example.

[–] [email protected] 16 points 1 month ago

So they could have doubled everyone's wage increase with that amount.

[–] [email protected] 4 points 1 month ago* (last edited 1 month ago)

I see this possibly as this scenario perhaps. boss went 3 for you, 3 for me, 3 for you, 3 for me, 3 for you, 3 for me...