Myth 176 - Sorry wrong call
We have heard that many top CEOs in the west are being paid in hundreds of millions as wages. And they justified their grand pay schemes by strutting their great talents and ability to make more money for the organisations. At first glance it looks very fair. How to reject someone who makes a billion by not paying a hundred million to him? The argument holds well only when this turkey is making his billions. What happens when he loses in billions? Sack him or give him a pay cut? When the turkey turns donkey and bankrupt the organisation, at best he will say, oops, sorry, wrong call. But when he is making billions he will trumpet as how clever he is. How equitable is such a compensation formula? Many are bought by it, especially the supertalents. For they know that they are the one that cannot lose. They gamble on other people's money and reward themselves handsomely when they made the right decision or guess it right. If they lose or make a huge mistake, they only lose other people's money. And they could get another equally well paying job by selling their experience somewhere else.