Category Archives: pay

Mike at Rortybomb explains that the whole reason why Wall Street bonuses are so big is that there’s a non-zero chance that they won’t be paid: I’ve heard it from several people that the argument for the bonus is “we … Continue reading →

Executives at AIG Financial Products are not happy bunnies these days, and they’re starting to make their views public. Jake DeSantis, for instance, published his resignation letter as a NYT op-ed. But Paul Harriman and his wife, Jan Ellen Harriman, … Continue reading →

I just had this IM exchange with Megan Barnett: Felix Salmon: Hi Megan, I see you’re attacking the cap on bankers’ pay, while I think it’s a good idea. Megan Barnett: Yes, it’s true. We finally disagree on something. Felix … Continue reading →

The NYT wheels out an executive-compensation expert today, to predictably pour cold water on the Obama administration’s plans to cap top executives’ pay at half a million bucks a year: “That is pretty draconian — $500,000 is not a lot … Continue reading →

The Washington Post reckons that Barack Obama has saved the nation about $443,000 by freezing the salaries of any staffers on six-figure salaries. But the real number is surely much less than that — and could be as low as … Continue reading →

Robert Frank is quite certain about executive pay: Why not limit executive pay? The problem is that although every company wants a talented chief executive, there are only so many to go around. Relative salaries guide job choices… If C.E.O. … Continue reading →

Free Exchange responds to my declaration that finance-sector salaries should be slashed: The problem, however, is with self-selection. The most talented people in finance would be the ones to go. Even in the worst labour market talent is in demand. … Continue reading →

You might expect it from right-leaning commentators like Will Wilkinson. You wouldn’t expect it from someone like Mark Perry, who lives in Flint, Michigan. And you certainly wouldn’t expect to see it in the New York Times, from the likes … Continue reading →

Do you pity the HENRYs ("high earners, not rich yet")? If you’re Shawn Tully you do. In an astonishing feat of reporting, he’s discovered that if you ask people whether they feel rich, especially if they work hard and have … Continue reading →

Dan Goldstein, the brother of fashion blogger Lauren, has an interesting web project of his own, trying to work out how well people understand inequality in the US. Go give it a twirl; the more people who take the interactive … Continue reading →

You know that "trader" who got a $2.1 million bonus in 2006 but is suing for another $150,000 on top? Well, he’s not really a trader at all: the FT says that he "has worked for the inter-dealer broking arm … Continue reading →

Of the 116 million households in the United States, just 4 million are fortunate enough to earn more than $200,000 per year. This top 3.5% of the US population has a level of wealth and comfort that would be almost … Continue reading →

Headline from a press release which arrived in my inbox Wednesday evening: “Golden Coffin Pay” is Not Pay-for-Performance Says Executive Compensation Expert Glad that’s cleared up, then. No mention is made of the front-page WSJ article which appeared on Tuesday … Continue reading →

If you’re poor, you’re generally acutely aware of exactly how much money you have at any given time, and that amount is generally very low. Andrew Goodman-Bacon and Leslie McGranahan have a paper out now on the Earned Income Tax … Continue reading →

John Cassidy has got me thinking on executive pay. Cassidy is angry at the sums paid to CEOs, and he’s urging us all to "go ahead and get mad" in an attempt to curb the worst excesses. It’s not the … Continue reading →