Executive Pay Still Increasing And Zero British Wage Growth...

[interestrateripoff]

Executive pay still rising despite increased shareholder anger

http://www.independent.co.uk/news/business/news/zero-british-wage-growth-since-global-financial-crisis-new-data-shows-a7226961.html

The growth of average UK wages has been next to zero since the global financial crisis, new data published today shows.

Inflation-adjusted average salaries are up only 0.1 per cent since September 2008, according to data from the global recruitment firm Korn Ferry, which underlines the feebleness of the UK's recovery from the Great Recession.

The UK’s wages performance is worse even than Italy, whose overall GDP is still 7 per cent lower than it was in 2008 when the US investment bank Lehman Brothers collapsed, setting off the international financial panic.

Still at least houseprices are up.... and executives are being rewarded nicely...

[Frugal Git]

Yep. Executive pay was upped big time at my place this year. Done very clandestinely and the plebs got not a crumb - 'no budget'. Of course there's no budget - that Tesla P90D and Nissan GT-R that arrived in the car park a couple of weeks later were pure coincidence.

[council dweller]

I spend very little on food and only eat twice a day. Generally I`m prepared to cut down on stuff if it means that rich people can become ever richer. Rich people are not like us....

[South Lorne]

Executive pay still rising despite increased shareholder anger

http://www.independent.co.uk/news/business/news/zero-british-wage-growth-since-global-financial-crisis-new-data-shows-a7226961.html

Still at least houseprices are up.... and executives are being rewarded nicely...

..time to restrict exec salary increases to the same percentage as the workers wages/salaries..with a weighting advantage to the various level of workers.....this should be law............

Edited September 5, 2016 by South Lorne

[knock out johnny]

..time to restrict exec salary increases to the same percentage as the workers wages/salaries..with a weighting advantage to the various level of workers.....this should be law............

Why? Edited September 5, 2016 by knock out johnny

[katchytitle]

You have the right to try and be an executive yourself. Either build a company or deal with the late nights and political ******** in a corporation. You have the right to choose to move to a metropolitan area, to find a job that pays more, to upskill and network in the evenings to find opportunity.

OR... you could just be paid to show up to work, literally count being alive from the hours of 9-5 as work on some days and take home a much smaller pay check and not deal with any real world hassles like how to actually get out of serfdom.

Success and IQ are probably not correlated. Success and hard-work probably are. Really it depends what you love doing, watching other creative people trying to build a career on television or in cinema or doing something yourself.

[John The Pessimist]

..time to restrict exec salary increases to the same percentage as the workers wages/salaries..with a weighting advantage to the various level of workers.....this should be law............

With a good 5 year plan and as long as you hit your tractor production targets it will work a treat. Lots of places where centrally planned economies have worked like..........

[Motor_Blade]

Executives voting for pay rises for themselves? Who'd have thunk it???????

[billybong]

The UK has an unemployment rate of 5 per cent, versus 10.3 per cent in France and 11.4 per cent in Italy.

5%

It would be interesting to know how the hidden unemployment figures compare.

[billybong]

Think positive - soon Britain will be the richest country in the world - Osborne said so.

Have Dave and George get their banking jobs after leaving as PM and Chancellor or are they waiting to leave Parliament.

[winkie]

[PopGun]

You have the right to try and be an executive yourself. Either build a company or deal with the late nights and political ******** in a corporation. You have the right to choose to move to a metropolitan area, to find a job that pays more, to upskill and network in the evenings to find opportunity.

OR... you could just be paid to show up to work, literally count being alive from the hours of 9-5 as work on some days and take home a much smaller pay check and not deal with any real world hassles like how to actually get out of serfdom.

Success and IQ are probably not correlated. Success and hard-work probably are. Really it depends what you love doing, watching other creative people trying to build a career on television or in cinema or doing something yourself.

What exactly has changed to make an executive job so demanding in the last 10 years to warrant this massive excess?

Why is it that boardrooms seem to be some exclusive carousel for well connected feck ups to jump from board to board causing havoc at each appointment?

A good CEO is worth their weight in gold. The bass ones are clearly not worth a single golden goodbye.

[wish I could afford one]

Not saying it's right but there is nothing stopping us plebs from trying to participate.

Anecdotal only of course but I've doubled my earnings in the last 3 years and I'm not 'special' nor am I in a 'special' industry. Of course it also hasn't come for free but it's been most beneficial given my stage of life.

[BorrowToLeech]

Not saying it's right but there is nothing stopping us plebs from trying to participate.

Anecdotal only of course but I've doubled my earnings in the last 3 years and I'm not 'special' nor am I in a 'special' industry. Of course it also hasn't come for free but it's been most beneficial given my stage of life.

Just like anyone can become a corrupt politician. No problem with that whatsoever.

[wish I could afford one]

Just like anyone can become a corrupt politician. No problem with that whatsoever.

I can assure you that I am 100% ethical, honest and compliant in everything I do. You do not have to be dishonest to get ahead in life.

If I've understood your post correctly it borders on defeatism or even victim mode. If I haven't then I'm sure you'll clarify and I'm already apologising in advance.

[Frugal Git]

Yeah I believe firmly that most people can become whatever they want to be as well - that's it's within their power.

However, there is a nagging, uncomfortable aspect of modern life that should you choose to cruise, or even just be a 'nice', normal worker you will also be exploited by all but the most enlightened companies. Bosses ... lie. It's why they are in the position they are in, because they've got comfy with being able to do so. Fair play.

So companies pay you as little as they can get away with paying you to stop you leaving. Alongside the occasional virtual carrot dangled in your face to make you think all that unpaid overtime will result in a proper reward, as opposed to a £250 'bonus' (for 250 hours of extra work).

If you feel that you're in a place that does not operate as a meritocracy, or doesn't reward output as much as being the right fit, it's up to you.

1) Leave and either find somewhere that does, or do something for yourself.

2) do what needs to be done to play their political game

3) stop being a martyr and give them exactly as much output as you think they are rewarding you for, and get a thick skin to resist any pressure to do anything more than that.

#3 is the most practical in the short term - and does provide a quick boost in self worth. But you must be working on doing 1 or 2 if you want to feel a greater sense of worth longer term.

All imho.

Edited September 11, 2016 by Frugal Git

[wish I could afford one]

Yeah I believe firmly that most people can become whatever they want to be as well - that's it's within their power.

However, there is a nagging, uncomfortable aspect of modern life that should you choose to cruise, or even just be a 'nice', normal worker you will also be exploited by all but the most enlightened companies. Bosses ... lie. It's why they are in the position they are in, because they've got comfy with being able to do so. Fair play.

So companies pay you as little as they can get away with paying you to stop you leaving. Alongside the occasional virtual carrot dangled in your face to make you think all that unpaid overtime will result in a proper reward, as opposed to a £250 'bonus' (for 250 hours of extra work).

If you feel that you're in a place that does not operate as a meritocracy, or doesn't reward output as much as being the right fit, it's up to you.

1) Leave and either find somewhere that does, or do something for yourself.

2) do what needs to be done to play their political game

3) stop being a martyr and give them exactly as much output as you think they are rewarding you for, and get a thick skin to resist any pressure to do anything more than that.

#3 is the most practical in the short term - and does provide a quick boost in self worth. But you must be working on doing 1 or 2 if you want to feel a greater sense of worth longer term.

All imho.

I agree with all of this.

"So companies pay you as little as they can get away with paying you to stop you leaving. " Absolutely. A Director of a company is responsible for making decisions that are in the best interests of the company not the employees of the company.

"Leave and either find somewhere that does, or do something for yourself." This is the method I chose. Find a company that rewards productivity. Warning: This is an environment for only the few as it's surprising how few people are actually prepared to do what needs to be done in this type of environment.

[Frugal Git]

I agree with all of this.

"So companies pay you as little as they can get away with paying you to stop you leaving. " Absolutely. A Director of a company is responsible for making decisions that are in the best interests of the company not the employees of the company.

"Leave and either find somewhere that does, or do something for yourself." This is the method I chose. Find a company that rewards productivity. Warning: This is an environment for only the few as it's surprising how few people are actually prepared to do what needs to be done in this type of environment.

Yep - I'm certain that a truly productivity geared environment would be intoxicating for someone like me, but it'd also lead to hard decisions to the detriment of other aspects of my life that I value higher. Eyes open on that.

As far as the executives make decisions for the company, not the employee aspect - we have gone (imho) toxic on this in sthe corporate world now, and too many decisions are based on 'developing shareholder value' to the detriment of both employees and more crucially, customers. Decisions are made based on analyst articles, often short termist in nature and are often aimless or for fight fighting.

This is creating a slow, creeping malaise for workers who don't have direction, support or any sense of pride. Seeing executive pay packets swell massively whilst the shop floor ones shrink in such companies isn't going to work forever. But I don't blame the boss for making out like a bandit whilst the going is good.

When proper capitalism returns, as it inevitably will once the zirp, nirp bullets are exhausted, we'll see those companies operating badly stuffed and well run companies really flourish. I suspect that a lot of those are run just as yours is ;-)

Edited September 11, 2016 by Frugal Git

[wish I could afford one]

Yep - I'm certain that a truly productivity geared environment would be intoxicating for someone like me, but it'd also lead to hard decisions to the detriment of other aspects of my life that I value higher. Eyes open on that.

As far as the executives make decisions for the company, not the employee aspect - we have gone (imho) toxic on this in sthe corporate world now, and too many decisions are based on 'developing shareholder value' to the detriment of both employees and more crucially, customers. Decisions are made based on analyst articles, often short termist in nature and are often aimless or for fight fighting.

This is creating a slow, creeping malaise for workers who don't have direction, support or any sense of pride.

When proper capitalism returns, as it inevitably will once the zirp, nirp bullets are exhausted, we'll see those companies operating badly stuffed and well run companies really flourish. I suspect that a lot of those are run just as yours is ;-)

On your first point. It's worked for me given my goal but where do I find myself now. My performance is now not what it was. I haven't yet figured out if it's fatigue, because I'm now FI'd and so the pressure is effectively off, whether I've been stretched beyond my capability or whether it will get better again (as it has previously as I've learnt). It doesn't matter in a way but what will happen if it does't get better is that in the near future if I don't sort it out I expect some pretty difficult situations coming up. Hopefully they don't happen until after I FIRE. That is not an environment for everyone but if you are built for it (and it's not an intelligence thing but a work ethic thing amongst other elements) you can reap some rewards.

On your second point. I agree with it all but the rules for Director's responsibilities will have to change or skills will have to become scarce meaning fierce competition for employees for the world to get better for the employee. I know in my current role that I am under no illusions that as soon as I can be outsourced or replaced by a 'cheaper model' I will be. Instead of fighting it I accepted and used it to my advantage.

[Frugal Git]

On your first point. It's worked for me given my goal but where do I find myself now. My performance is now not what it was. I haven't yet figured out if it's fatigue, because I'm now FI'd and so the pressure is effectively off, whether I've been stretched beyond my capability or whether it will get better again (as it has previously as I've learnt). It doesn't matter in a way but what will happen if it does't get better is that in the near future if I don't sort it out I expect some pretty difficult situations coming up. Hopefully they don't happen until after I FIRE. That is not an environment for everyone but if you are built for it (and it's not an intelligence thing but a work ethic thing amongst other elements) you can reap some rewards.

On your second point. I agree with it all but the rules for Director's responsibilities will have to change or skills will have to become scarce meaning fierce competition for employees for the world to get better for the employee. I know in my current role that I am under no illusions that as soon as I can be outsourced or replaced by a 'cheaper model' I will be. Instead of fighting it I accepted and used it to my advantage.

You've identified exactly why that environment (or at least the higher echelons of it where the rewards are) aren't the panacea for everyone - and certainly why despite my ability, vision etc, I wouldn't have the right stuff to truly thrive in such a place. I like being what would be conventionally described as occasionally lazy!

I cannot go hell for leather for more than a few weeks without seriously affecting medium term mental health and pushing aside everything else. I used to do it - without the rewards i might add. Once you've been going pedal to the metal for a long time it's not just burn out that can be affecting you, its the all encompassing nature of such a role and it can be addictive. It can become who you are (at least for a while). All credit to those who can do it I say.

In your case though I think it's natural to have 'dipped' a bit. You've reached a hugely significant goal in your own life. Your purpose has shifted with different things becoming more or less important.

The difficulties you may see are from a good place - your professionalism and ethics, but no-one who is being objective would see them as anything other than a consequence of what you've achieved and I'm pretty certain that when you leave people will actually be in awe of what you've done, not just on a personal goal level but I'm guessing a professional one to to get there.

Edited September 11, 2016 by Frugal Git

[wish I could afford one]

You've identified exactly why that environment (or at least the higher echelons of it where the rewards are) aren't the panacea for everyone - and certainly why despite my ability, vision etc, I wouldn't have the right stuff to truly thrive in such a place. I like being what would be conventionally described as occasionally lazy!

I cannot go hell for leather for more than a few weeks without seriously affecting medium term mental health and pushing aside everything else. I used to do it - without the rewards i might add. Once you've been going pedal to the metal for a long time it's not just burn out that can be affecting you, its the all encompassing nature of such a role and it can be addictive. It can become who you are (at least for a while). All credit to those who can do it I say.

In your case though I think it's natural to have 'dipped' a bit. You've reached a hugely significant goal in your own life. Your purpose has shifted with different things becoming more or less important.

The difficulties you may see are from a good place - your professionalism and ethics, but no-one who is being objective would see them as anything other than a consequence of what you've achieved and I'm pretty certain that when you leave people will actually be in awe of what you've done, not just on a personal goal level but I'm guessing a professional one to to get there.

Some more good points. I literally have not stopped in the workplace for the last 5 years and it does take it's toll. I did it because I had a significant goal I was chasing but if I didn't and just did it because it's what was expected in the environment I could very easily see how it could "become ones life" (addictive as you say). Nothing wrong with that in principle if it's the life you want (great for consumers or those trying to keep up with the Jones's) but if you miss out elsewhere because of it then that's a real shame. I'm yet to hear of anyone on their death bed saying I wish I worked a bit harder/longer.

My decompression phase is going to be quite interesting as I re/discover who I actually am. TBH I'm not quite sure how that's going to turn out. That is one of the risks of my approach. To give an example. 10 years ago in my personal life I was quite social and extroverted. Now I'm quite introverted and prefer contact with less people. I'm not sure if that's because in the workplace I have to be the opposite or whether I've just matured.

I'm not sure yet how my resignation will go. If I'm back to peak performance then there will be plenty of conversations I'm sure. If I'm not then it will be easy. It's likely that nobody will know I've actually FIRE'd. I'm not close to anyone in the workplace so I should be able to disappear into the sunset and be forgotten about quickly which I think suits me just fine.

[Frugal Git]

Some more good points. I literally have not stopped in the workplace for the last 5 years and it does take it's toll. I did it because I had a significant goal I was chasing but if I didn't and just did it because it's what was expected in the environment I could very easily see how it could "become ones life" (addictive as you say). Nothing wrong with that in principle if it's the life you want (great for consumers or those trying to keep up with the Jones's) but if you miss out elsewhere because of it then that's a real shame. I'm yet to hear of anyone on their death bed saying I wish I worked a bit harder/longer.

My decompression phase is going to be quite interesting as I re/discover who I actually am. TBH I'm not quite sure how that's going to turn out. That is one of the risks of my approach. To give an example. 10 years ago in my personal life I was quite social and extroverted. Now I'm quite introverted and prefer contact with less people. I'm not sure if that's because in the workplace I have to be the opposite or whether I've just matured.

I'm not sure yet how my resignation will go. If I'm back to peak performance then there will be plenty of conversations I'm sure. If I'm not then it will be easy. It's likely that nobody will know I've actually FIRE'd. I'm not close to anyone in the workplace so I should be able to disappear into the sunset and be forgotten about quickly which I think suits me just fine.

Ok so no-one knows what you've achieved where you work? Thats impressive because i don't think i could have kept it under wraps. Scratch that. I *know* I couldn't. I'm very open with my 'strategy' with everyone as it is. Probably a mistake in a lot of ways but it is part of who I am so I don't mind sharing it.

Most people think I'm nuts and I can tell are judgemental but it has the positive side of attracting those who are like minded, sharing ideas and gaining the respect of the people who I like.

When the time comes, my approach in your situation would be to honestly tell them. No one worthy of your respect can begrudge someone leaving because they've reached a goal in life, and the genuine people will probably applaud you. Should be on good terms that way. Of course should you want to remain private I this matter - and I think that's a very reasonable attitude too thend just go with your head held high saying you're leaving for personal reasons.

I remember when I left one of my previous places to go off round the world, I left on great terms with almost everyone - at all levels - except one chap who couldn't fathom it. Your situation is kind of similar. Conversely when I've seen people leave for other jobs, or where there's been some clandestine reason, it's rarely been as amicable.

You're in a strong situation. The decompression bit will be interesting for sure, but the world is your oyster now. Just take the time to relax, then explore old interests and think about what you want. Brilliant work.

[wish I could afford one]

Ok so no-one knows what you've achieved where you work? Thats impressive because i don't think i could have kept it under wraps. Scratch that. I *know* I couldn't. I'm very open with my 'strategy' with everyone as it is. Probably a mistake in a lot of ways but it is part of who I am so I don't mind sharing it.

Most people think I'm nuts and I can tell are judgemental but it has the positive side of attracting those who are like minded, sharing ideas and gaining the respect of the people who I like.

When the time comes, my approach in your situation would be to honestly tell them. No one worthy of your respect can begrudge someone leaving because they've reached a goal in life, and the genuine people will probably applaud you. Should be on good terms that way. Of course should you want to remain private I this matter - and I think that's a very reasonable attitude too thend just go with your head held high saying you're leaving for personal reasons.

I remember when I left one of my previous places to go off round the world, I left on great terms with almost everyone - at all levels - except one chap who couldn't fathom it. Your situation is kind of similar. Conversely when I've seen people leave for other jobs, or where there's been some clandestine reason, it's rarely been as amicable.

You're in a strong situation. The decompression bit will be interesting for sure, but the world is your oyster now. Just take the time to relax, then explore old interests and think about what you want. Brilliant work.

When it comes to FIRE I am the definition of a grey man in the workplace. FIRE is not very compatible with CAREER IMHO. I've therefore kept it all very clandestine as the last thing I wanted was to have my earnings hindered. It was an important part of my strategy.

Those that think you're nuts are sad IMHO. They clearly can't think differently and importantly can't understand that we're all wired differently. Their loss. The goal in life is Self Actualisation (the sad bit is that most will never get past the consumption bit) but given there is no instruction manual on how to get there it's not surprising we're all going about it differently. Once I realised this the world became quite a different and more peaceful place.

A few months before I need to worry about the resignation. All I know is it's going to be a very rewarding day. Of course not as rewarding as the journey home following my last day of compulsory work will be... I'm almost smiling now just typing that.

[Scunnered]

I agree with all of this.

"So companies pay you as little as they can get away with paying you to stop you leaving. " Absolutely. A Director of a company is responsible for making decisions that are in the best interests of the company not the employees of the company.

But directors are very often employees of the company, and often it seems that decisions they make (especially in regard to executive pay) are ones that are extremely favourable to themselves.

[BorrowToLeech]

.

Edited September 12, 2016 by BuyToLeech