Another thing about automotive (and probably most industries) is that large portions of the labor are contracted through agencies. Even most entry level engineers are contract now. So that figure doesn’t include many of the lower paid positions in these facilities.
Stock awards aren’t exactly normal compensation, though. If everyone got equal stock in the company, everyone would be incentivized to work towards the company’s success.
So why are most employees given salary or hourly pay without stock rewards? Shouldn’t the company want to incentivize employees for the company’s success? I understand there are a lot of people who defend their companies or corporations without much investment incentives given. I still don’t see why it is not a common benefit to give.
I will never care about any company I work for. They can give me stock, sure, but I know it’s not my company and I don’t want to work harder for one extra peanut. I rather get time off then. :)
Give everyone 6 weeks vacations and 4 day work weeks to start with. It’s more than fair. Let people have time off and enjoy their lives. But not going to happen.
Stock grants are pretty common in tech. Wonder if the UAW has ever proposed a fair grant program with a favorable vesting schedule. Maybe a grant that immediately vests quarterly over 3 years, 20% of base salary? Build wealth for your long time employees while increasing the value of the stock.
Do you know who Robert Reich is? I don’t know where he got these numbers either, but there’s pretty much zero chance that a former US secretary of labor and current Berkeley professor just pulled them out of his ass. Like his politics or not, the guy does know what he’s talking about.
Did basic digging, no idea where the tweet’s numbers come from.
Ford CEO Jim Farley received ~$21mil in total compensation in 2022, mostly in stock awards. Source
Average salary of Ford employee: ~$67k a year, derived from $37k in the bottom 10th percentile and $120k in the top 90th. Source
Which gives a ratio more like 313 to 1.
Lol so even higher than stated in the pic
Another thing about automotive (and probably most industries) is that large portions of the labor are contracted through agencies. Even most entry level engineers are contract now. So that figure doesn’t include many of the lower paid positions in these facilities.
Stock awards aren’t exactly normal compensation, though. If everyone got equal stock in the company, everyone would be incentivized to work towards the company’s success.
So why are most employees given salary or hourly pay without stock rewards? Shouldn’t the company want to incentivize employees for the company’s success? I understand there are a lot of people who defend their companies or corporations without much investment incentives given. I still don’t see why it is not a common benefit to give.
I will never care about any company I work for. They can give me stock, sure, but I know it’s not my company and I don’t want to work harder for one extra peanut. I rather get time off then. :)
Give everyone 6 weeks vacations and 4 day work weeks to start with. It’s more than fair. Let people have time off and enjoy their lives. But not going to happen.
Stock grants are pretty common in tech. Wonder if the UAW has ever proposed a fair grant program with a favorable vesting schedule. Maybe a grant that immediately vests quarterly over 3 years, 20% of base salary? Build wealth for your long time employees while increasing the value of the stock.
Do you know who Robert Reich is? I don’t know where he got these numbers either, but there’s pretty much zero chance that a former US secretary of labor and current Berkeley professor just pulled them out of his ass. Like his politics or not, the guy does know what he’s talking about.
I’m a fan of Robert Reich, I just meant it as a preface for why my numbers were different.