Gtrplyr78
Nuttin’
And there is a never ending supply of them in all branches of fed/state... They keep inventing new positions as well.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
How hard is inflation going to hit, or has hit?
- Thread starter brantb
- Start date
RunningProblem
Red Skull Member
- Joined
- Sep 12, 2020
- Member Number
- 2860
- Messages
- 2,733
Yes. I’ve done it. 30 hour work weeks so the team could stick together after business lost a massive client. It makes a team much stronger than firing someone just because they haven’t been here as long as me.
RusM
Amateur Viking
You talking about the CEO of the local greasy spoon or like an actual company? You may be a little out of touch with real wages down there in Bucoda....
Thefishguy77
Part time dumbass
Im talking overall numbers of companies that have CEO’s. Its averagesYou talking about the CEO of the local greasy spoon or like an actual company? You may be a little out of touch with real wages down there in Bucoda....
jpmassey
Well-known member
I personally know 3 CEOs of medium size companies. They all make between 500k and 1 mil. A couple of them are way way overpaid.
RusM
Amateur Viking
Im talking overall numbers of companies that have CEO’s. Its averages
Your honor, I rest my case
skyhiranger
Well-known member
And that is probably just base salary, not total compensation.
Google says the average salary for a CEO in the US as of January 2023 is $812,010.
The CEO of the company I work for had a 2021 salary of just under 1.5 million. But the other compensation he got that year was as follows....
Stock awards...8.7 million
Option awards...8.7 million
Non-equity incentive plan compensation...3.1 million
Change in pension value and deferred compensation earnings...2.7 million
All other compensation 129K
For a grand total salary+compensation of just under 25 million for 2021.
His pay was 254 times that of the median employee.
Revenue for the company was 43 billion.
Most everyone in my department IT/Telecom got about a 2.6% raise that year (we are all salary). Which has been pretty typical of the raise percentage given every year since I've been there (2015). It will be interesting to see what percentage they give this year after the record inflation...but my speculation is it will still be around 3%...I really doubt it will be anything higher than 4%.
Gtrplyr78
Nuttin’
This kind of goes along with a post I saw on Garage Journal recently:
Common foot soldier employee-
Company has a “meh” year. - 0% bonus
Company makes a profit. - 2-4%
Company has a good year. - 5-10%
Company has a record year.- 10-15%
Front line manager-
0-5%, 5-10%, 10-15%, 15-20%
Upper manager/ officer-
5-10%, 10-15%, 20-25%, 25-33%
Executive (president, CEO, COO, etc.)-
You didn’t bankrupt the co.- 15-25%
Remaining categories- 25-50%, 50-100%, 100-150%, 200%+
Bear in mind that the base salaries for these percentages increase significantly as well, so 50% of $300K is a gob more than 2% of 45K.
arse_sidewards
Red Skull Member
- Joined
- May 19, 2020
- Member Number
- 71
- Messages
- 8,558
Pretty rich coming from someone who's always making "I wouldn't X for less than Y" statements.
If the .gov needs a full time mobile diesel tech what do they do? Subcontract it out to some slimball who put his (feather) indian wife on his LLC for way too much money.
The .gov doesn't need to do a lot of the shit they do but a big reason the .gov is so terrible at everything is that it refuses to pay market wages.
Statements like this are useless without knowing how many employees there are and what they make.
Mr Stubs
Taste my rainbow, bitches
Buncha blue haired Commies moved into this thread bitching about others who makes more money and how unfair it is.
aczlan
Good Morning!
Exactly, the CEO of UPS is responsible for billions of dollars, yet they have hundreds of thousands of employees, many of whom just have to be able to load/unload boxes into/out of a truck.
In "days of yore" the disparity in wages was less, but there would have been more smaller companies.
A better metric would perhaps be CEO compensation as a percentage of gross revenue, that would at least show the amount fiduciary responsibility that they have which is a better metric than the comparison to their wages vs the average employee.
It's also worth noting that in many cases if you took the CEO's entire yearly compensation package and split it amongst all the employees evenly, they would not even get enough to fill the tank of their car.
Aaron Z
Norm
Newb
3 gates V belts for my old vette, $95. Fuggg
I put some billet pulley’s on that were smaller than stock so I had to buy local and trial fit and exchange them.
I put some billet pulley’s on that were smaller than stock so I had to buy local and trial fit and exchange them.
skyhiranger
Well-known member
43 billion was a 10 billion increase in revenue over 2020.
That is what management doesn't get...their 3% raise is a helluva lot more than my 3%. I've pointed that out to them and they are like a deer in headlights.
skyhiranger
Well-known member
Employee count as of a few years ago was a little over 100K. Well, the median wage/salary can be figured by the numbers I gave previously. Call center reps probably make the least (not sure where they are at pay wise) then you have VPs, CIOs, CFOs, etc. that are likely at the high end under the CEO.
My point is, the employees made the company 10 billion more from one year to the next, yet they throw a sub 3% raise to them. I realize we aren't entitled to shit, as far as pay increases go. But it would be nice to be recognized for all the what I could consider over the top work and time we put in the last year. But I've had my own way of dealing with the less than desirable increases.
bigun
Red Skull Member
Bidenflation rises to 13.7%, hurting Americans - The Daily BS
Here’s the nub that economists and the media overlo when discussing inflation: even though year-over-year inflation is decreasing, consumers are still intensely feeling the pinch. Why? Prices have risen by nearly 14% in the past two years, a relatively short period, while earnings have not kept...
thedailybs.com
Here’s the nub that economists and the media overlook when discussing inflation: even though year-over-year inflation is decreasing, consumers are still intensely feeling the pinch.
Why? Prices have risen by nearly 14% in the past two years, a relatively short period, while earnings have not kept pace. Consumers are still adjusting to the new reality, and measuring inflation year-over-year fails to capture consumers’ pain.
Meanwhile, President Biden is in another world. He said he took no responsibility for the ongoing inflation in the country when he highlighted the strong January jobs report early this month.
“Do you take any blame for inflation?” a reporter asked.
“No,” Biden responded.
Biden does not want you to know that prices increased by 13.7% under his watch between February 2021 and January 2023.
The President reinforced his claim last week in his State of the Union Address: “We have more to do, but here at home, inflation is coming down. Here at home, gas prices are down $1.50 a gallon since their peak. Food inflation is coming down. Inflation has fallen every month for the last six months while take home pay has gone up.”
Sorry, but bad news came on Tuesday to negate Biden’s SOTU claim. The Labor Department reported that inflation edged up by 0.5% in January 2023 as rising shelter, gas and fuel prices took their toll on consumers.
The Consumer Price Index (CPI) released by the government on Tuesday showed a 6.4% year-over-year increase in prices from January 2022 to January 2023, edging down from a rate of 6.5% in December. The CPI has declined steadily from a 40-year high of 9.1% in June to 6.4% in January.
We developed the TIPP CPI, a metric that uses February 2021, the month after President Biden’s inauguration, as its base and measures the rate of change.
Bidenflation, measured by the TIPP CPI using the same underlying data, stood at 13.7% in January. It was 12.8% in December, 13.2 in November, 13.3% in October, and 12.8% in September.
While we recognize that CPIs are index numbers, for common understanding, when we refer to TIPP CPI and BLS CPI, we mean percent change.
All TIPP CPI measures are anchored to the base month of February 2021, making it exclusive to the economy under President Biden’s watch. Please note that we use the relevant Bureau of Labor Statistics (BLS) underlying data but recalibrate it to arrive at the TIPP CPI.
Significant inflation had already set in by the middle of 2021. In December 2021, CPI inflation was 7.0 percent. The official CPI year-over-year increases will compare prices to already inflated bases in the coming months. The year-over-year calculation may moderate the statistics, but you will still feel the pinch of inflation.
TIPP CPI vs. BLS CPI
The following four charts present details about the new metric.The official year-over-year CPI increase reported by BLS is 6.4% for January 2023. Compare this to the TIPP CPI of 13.7%, a 7.3-point difference. Prices have increased by 13.7% since President Biden took office.
Food prices increased by 17.6% under President Biden’s watch compared to only 10.1% as per BLS CPI, a difference of 7.5 points.
Energy prices increased 32.8% per TIPP CPI compared to 8.7% according to BLS CPI, a difference of 24.1 points.
The Core CPI is the price increase for all items, excluding food and energy. The Core TIPP CPI was 11.6% compared to 5.6% BLS CPI in the year-over-year measure, a 6.0-point difference.
Further, gasoline prices have increased by 33.0% since President Biden took office. However, the BLS CPI shows that gasoline price has risen by 1.50%, a difference of 31.5 points.
Used car prices have risen by 23.7% during President Biden’s term. The BLS CPI shows that the prices have dropped by 11.6%, a difference of 35.3 points.
Inflation for air tickets under President Biden is 34.2% compared to the BLS CPI finding of 25.6%.
Americans’ Concerns
The latest Investor’s Business Daily/TIPP Poll, completed earlier this month, shows that nine in ten (89%) of survey respondents are concerned about inflation. Throughout the past year, inflation concerns have stayed above 80%. The share of “very concerned” has been over 50% for twelve consecutive months.Nearly one-half (48%) say their wages have not kept pace with inflation. Only one in four (27%) say their income has kept pace with inflation. This statistic hovered in the low twenties for most of the last year. The positive change here may denote the start of a new trend, but it is too early to tell.
As a result of inflation, Americans are cutting back on household spending.
Most Americans are spending less. They are cutting back on purchasing big-ticket items (76%), eating out (76%), entertainment (75%), holiday/vacation travel (74%), and memberships/subscriptions (67%).
Many (60%) are cutting back on even good causes such as charity giving. The high gasoline prices forced 59% to cut back on local driving. Nearly three out of every five (57%) households spend less on groceries.
Inflation Direction
The chart below compares the 12-month average of monthly changes against the 6-month and the 3-month averages. We also show the reading for December 2022.The 12-month average considers 12 data points and presents a long-term reference, while the six-month and three-month averages consider recent data points.
To better understand, compare the three-month average to January 2023 data. For All Items, the three-month average was 0.27% vs. 0.5 in January 2023. It is increasing, and hence it is not good.
Similarly, for Energy, the rate is decreasing. The increase in January 2023 (2.00%) exceeded the three-moving average of -0.83, indicating a worsening situation.
The January reading for Food matched the 3-month average of 0.5%. There is no further deterioration.
Though the trend is generally down for All Items Less Food And Energy, the January reading of 0.40% was higher than the three-month average of 0.37%, a cause for some concern.
Treasury yields rose on Tuesday. With an inverted yield curve, short-term U.S. treasuries are paying higher interest rates than long-term U.S. treasuries:
- 4.812% for the 3-month Treasury bill
- 5.033% for the 6-month Treasury bill
- 4.591% for the 2-year Treasury
- 3.726% for the 10-year bond
- 3.768% for the 30-year bond
Most Americans (53%) believe the economy is in a recession, and another 56% think the economy is not improving. Whatever the President may say, Americans know they are not out of the woods yet.
To access the TIPP CPI readings each month, you can visit tippinsights.com. We’ll publish the TIPP CPI and our analysis in the days following the Bureau of Labor Statistics (BLS) report. The upcoming release of TIPP CPI is on March 15, 2023. We’ll also post a spreadsheet in our store for free download.
Hey, want to dig deeper? Download data from our store for free!
Want to understand better? We recently wrote an explainer that sixth graders can understand. Everyone can benefit from it. Milton Friedman’s Priceless Lessons On Inflation
📰
tippinsights is a reader-supported publication. To support our work, consider becoming a paid subscriber.
Thefishguy77
Part time dumbass
The employees made the company 10billion more how? What did they do that made the company 10 billion more one year over the next. Assuming they are doing their jobs at least 90% of their ability how did they make that much more? Explain it to the class please. Or are you saying the employees weren’t really working hard and then last year they started working hard and got more shit done so the company was more profitable?
Im not talking about the company raising prices to the retailer for inflation. What did the employees actually do to make that change?
Typically those kind of revenue jumps are from decisions made at the C level and then the employees do whatever new thing they are given to do.
skyhiranger
Well-known member
That would work, if management understands how it should work.
For example, at one time I worked in a factory making wiring harnesses for vehicles. We all got paid relatively the same hourly wage. We each had an individual quota of wiring harnesses we were expected to make per shift, depending on the complexity of the harness. I was good at it, so I had no problem making my quota. So I would get most of my quota done, then jack around, then meet my quota by the end of the shift.
On more than one occasion I would get questioned by management when I was jacking around on how many wiring harnesses I had made. When I would tell them I had 20 of my 24 wiring harnesses made and still had 2 hours left in the shift to make the other 4, they would tell me I needed to make more than quota. I told them, no I didn't. Everyone here is making the same hourly wage and it doesn't matter if someone makes 30 wiring harnesses or 10, out of a 24 harness quota, we still get paid all the same.
Then they started the "make your quota, go home, get paid for 8 hours" deal. That was great, I would work 4-6 hours, get paid for 8. That didn't last long though, as they found that the ones that couldn't make quota still couldn't make quota.
We tried to tell them they should be paying us per harness...overall productivity would go up, even though they would have to pay out more. I guess they figured that wouldn't pencil out in the end, or they were just too stupid to realize it would.
skyhiranger
Well-known member
Exactly, the employees do the work, not the management. Management may come up with the idea (no matter how basic it is...ooo, let's cut cost...wow, what a novel idea
), but they don't do shit on execution. Yeah, they may "manage" people, but if an employee is worth a shit, they don't need to have someone looking over their shoulder every day to make sure they are doing what they are supposed to be doing.I'm not saying management didn't do some things to reduce costs/increase revenue (they do/did cut employee headcount, by typically not backfilling a position when someone leaves, even though most departments are understaffed...this statement comes from the low/mid level managers) But hey, do more with less for the same pay...that's the typical battle cry of most companies, it seems.
Cutting costs, more sales, new products, closing sites, etc.
For example, all departments are expected to cut costs by a certain percentage of the dept budget every year. In my dept (telecom), we decommission old telephone circuits, move from one telephone or fax system to another, get rid of maintenance contracts on unused/underutilized equipment, renegotiate contracts, close down office sites, etc. (again, none of these are ground breaking ideas on how/where to cut costs). None of the management does this (at least in my dept), it is all the people on the telecom team.
Last year, I personally, saved the company around $400K/year by doing a variety of the things mentioned. Yes, I stated that in my yearly review, as I do every year, when I list my "accomplishments" and what work was done.
And as far as passing the increased costs onto the consumers/retailers...we were told that they will not/did not pass all the cost on. I realize a lot of companies took the same approach. But also the way I look at that (from my company), is that was lost revenue that they could have used to pay the employees. Not that they would have, but they could have.
rockota
white collar hillbilly
- Joined
- May 28, 2020
- Member Number
- 1642
- Messages
- 3,959
rockota
white collar hillbilly
- Joined
- May 28, 2020
- Member Number
- 1642
- Messages
- 3,959
Poke
I’m condescending
- Joined
- May 20, 2020
- Member Number
- 763
- Messages
- 1,393
This is where I have and could excel. ‘Business sense transcends’ is the industry saying. If you can run one you can run most. You get asked by the $ to make them $$ or $$$.
I find it an awesome and ridiculous challenge that would be personally rewarding.
As to others in this thread offering CEO opinions. I could care less how wrong they are because there is only one way to know what it’s like and they will never know. The displayed lack of understanding of the role, responsibilities, and how we think is evident.
skyhiranger
Well-known member
Exactly, because they had no incentive for doing more than quota.you support merit based increases but did "just enough" nothing more?
rockota
white collar hillbilly
- Joined
- May 28, 2020
- Member Number
- 1642
- Messages
- 3,959
so you get a job that says "this is the minimum expectation" and you lock yourself into that minimum expectation as your maximum contribution... then bitch about management for not paying you more...
Thefishguy77
Part time dumbass
So do you have specifics on how the employees made 10 Billion more dollars? Still waiting on that one. You listed what the company did to streamline stuff and without real specifics we are completely taking your work for it.Exactly, the employees do the work, not the management. Management may come up with the idea (no matter how basic it is...ooo, let's cut cost...wow, what a novel idea
I'm not saying management didn't do some things to reduce costs/increase revenue (they do/did cut employee headcount, by typically not backfilling a position when someone leaves, even though most departments are understaffed...this statement comes from the low/mid level managers) But hey, do more with less for the same pay...that's the typical battle cry of most companies, it seems.
Cutting costs, more sales, new products, closing sites, etc.
For example, all departments are expected to cut costs by a certain percentage of the dept budget every year. In my dept (telecom), we decommission old telephone circuits, move from one telephone or fax system to another, get rid of maintenance contracts on unused/underutilized equipment, renegotiate contracts, close down office sites, etc. (again, none of these are ground breaking ideas on how/where to cut costs). None of the management does this (at least in my dept), it is all the people on the telecom team.
Last year, I personally, saved the company around $400K/year by doing a variety of the things mentioned. Yes, I stated that in my yearly review, as I do every year, when I list my "accomplishments" and what work was done.
And as far as passing the increased costs onto the consumers/retailers...we were told that they will not/did not pass all the cost on. I realize a lot of companies took the same approach. But also the way I look at that (from my company), is that was lost revenue that they could have used to pay the employees. Not that they would have, but they could have.
If you line items all those cuts your talking about I dohbt they equal 1 billion let alone 10. So while the employees to the physical labor odds are strong that that physical labor work was made available by upper level management. Had the management not made those changes it sounds like a lot more people would have been out on their asses. Yet you blame management. Holy shit man have you taken more than Econ 101? Honestly man you seem like a smart guy blinded by hatred of those with more money than you think they should have. The only way employees could be responsible for a 10 billion dollar yearly increase is if they didnt do their job properly to start with and then decided to work hard for a year to see what happens.
When you throw the Billion dollar word around it changes a lot of things. Most people don’t realize how much a billion dollars actually is. Let alone a 10 billion dollars INCREASE in revenue. What was the companies gross revenue for the last 5 years so we have a legit idea of what percentage increase your talking about.
skyhiranger
Well-known member
So what, you think management should take all the credit and reap the majority of the benefits for the extra 10 billion in revenue? Just because they come up with an idea (and in our case, management doesn't always come up with the cost saving measures...we are regularly asked for ideas on where the company can save money), doesn't mean they should get to take all the credit and reap the large majority of the benefits, IMO. If you don't agree, then fine, we are both entitled to our own opinions. And that is exactly what they are and neither of us is going to convince the other to change their view.
Poke
I’m condescending
- Joined
- May 20, 2020
- Member Number
- 763
- Messages
- 1,393
So there was no thought that doing more gives them job security and helps the company remain healthy?
Poke
I’m condescending
- Joined
- May 20, 2020
- Member Number
- 763
- Messages
- 1,393
But they had the idea to ask for ideas and executed on it then implemented the good ideas.
I would call that a good job managing.
skyhiranger
Well-known member
Like most jobs I have had, initially, I do more than what is asked. Then when I ask for additional compensation for doing more than required and get denied, I do the minimum required. It seems only fair, right?