From Financial Times
Sometimes dubbed the world’s most socialist country, Japan never went in for the CEO cult. On average, big company executives earn about three times as much as the rank-and-file – comfortably within the four-fold ideal espoused by Plato two and a half millennia ago.
That is also a far more modest gap than the 39 times differential prevailing among FTSE 350 board members and employees, as measured by research house IDS. It is not even in the same universe as the US, where the left-leaning Institute for Policy Studies reckons CEOs take home 344 times more than the average worker.
What about the insurance agents?
ReplyDeleteThey are having more than some CEOs. For few, being honest and hard working they deserve but for the rest for glib tongue.
What they have?
They have none of the right qualifications other than good skill at turning black to white. Who pays them? Not willingly by customers if they know what these agents have done to their future.
1,290 times, this is what our PM & President earns compared to someone who has to answer to three departments and do all sorts of frontline jobs, as advertised by the tourism conversion programme for mid career change.
ReplyDeleteThe pm or president earns in one hour what the mid career changer earns in a month. How's that for comparison?
ReplyDeleteSimilarly in Singapore whole life insurance cannot give you good coverage and return because your premium goes to pay the CEO's and his senior management's high salary. What is left goes to pay your insurance cost and the rest invested.
ReplyDeleteThat is why they reduce your annual bonus and HOPEFULLY when it goes into the special bonus investment they can win more to give a better special bonus.The truth is you are gambling with the insurance company that they gamble well with your money.Gambling means high risk but did they tell you?
Today, the company is resorting to this because more than four fifth(4/5) vanishes as cost and the largest portion goes to pay the CEO.
Well,if you continue to believe your so called trusted insurance agent it is your business. You are are paying them to screw you up financially.
No sympathy for those who still buy new policies, but for those who bought years ago, they are the victims of the new age CEO type. What to do, it has happened. Let's move on Madoff!
ReplyDelete