this post was submitted on 14 Dec 2023
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345
The salaries of Wikimedia executives are sparking an online debate about tech sector wages (www.businessinsider.com)
submitted 11 months ago by [email protected] to c/[email protected]
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[–] [email protected] 103 points 11 months ago (2 children)

So they're making $150-300k per year, with more for severance. That is indeed relatively low compared to major tech companies.

The article's examples were Docusign (CEO made $85M) and Google (CEO made $225M).

[–] [email protected] 67 points 11 months ago (2 children)

$150-300k makes sense. $225M does not. It's obscene and absurd.

[–] [email protected] 32 points 11 months ago

the difference between $225M and 300k is $224.7M

[–] [email protected] 22 points 11 months ago* (last edited 11 months ago)

Hell, even low 7-figures could make sense. Though even that's still high.

But Jesus Christ with these hundreds of millions, it's obscene.

[–] [email protected] -3 points 11 months ago (2 children)

It's important to note that most of what they "made" is actually just the stock that they already own or the stock options they received.

In general the actual cash that they receive is less than $500k.

Taxes are calculated differently on stock sales vs wages.

[–] [email protected] 13 points 11 months ago (2 children)

So?

[–] [email protected] 12 points 11 months ago (1 children)

The lack of people understanding this is what leads to poorly written laws.

They think that all we need is an income tax to tax the rich more.

So when laws are passed saying that they'll tax anyone making more than $1mil, people don't realize that it doesn't really do a whole lot.

[–] [email protected] 12 points 11 months ago

I mean I think capital gains needs to be rolled into income tax too

[–] [email protected] 2 points 11 months ago

You're right that their salaries weren't $500k plus, those numbers included severance. Actual salaries were in the order of $150-300k (with the highest salaries paid to the owners).

Wikimedia doesn't have stock AFAIK.