Walmart CEO Doug McMillon thinks the federal minimum wage is "too low." Now the head of the country's largest private employer is calling on Congress to raise it beyond $7.25 an hour. READ MORE
If Trump Were Smart, He’d Raise the Minimum Wage Before 2020
Donald Trump has (once again) decided to pick a big fight with his own party by betraying conservative economic orthodoxy. Senate Republicans may be willing to abide the president’s naked corruption, contempt for the rule of law, and late night rants about Bette Midler — but across-the board tariffs on Mexican imports are another matter. As the New York Times reported earlier this week: READ MORE
What a ‘Living Wage’ Actually Means
If you ask a dozen lawmakers what constitutes a “living wage,” you’ll get a dozen answers. Where does the term come from? And is it even accurate? READ MORE
Why wealthy business leaders are joining the call to end high CEO pay
Recently, Abigail Disney, the granddaughter of Disney’s cofounder, has been making no secret of her disapproval of the way things are going at the company now. Specifically, at Fast Company‘s Impact Council, she called current CEO Bob Iger’s $65.6 million compensation “insane,” and criticized the fact that it totaled approximately 1,424 times more than the median salary of a Disney employee. She later backed up her sentiment to The Guardian, saying “”No one on this freaking planet is worth that kind of money.” READ MORE
‘I Have to Earn My Living,’ Says AIG CEO After Close Shareholder Vote on His Pay
‘I Have to Earn My Living,’ Says AIG CEO After Close Shareholder Vote on His Pay READ MORE
Executive pay clawbacks could backfire, says study
Clawbacks on incentive-based compensation for executives could lead to misconduct and misreporting of financial results, according to a new academic study. READ MORE
Altera Case Loss Doesn’t Mean End of Litigation Fight
Intel’s subsidiary Altera Corp. failed again to win reversal of a federal appeals court decision that stock compensation expenses can’t be deducted from a company’s taxable income—a decision that could mean higher tax bills for tech companies that share the costs of intellectual property with their offshore units. READ MORE
Yes, a nationwide $15 minimum wage would be quite damaging
Praise be, we now have the economic research to prove that higher minimum wages have no ill effects, so let's push onward to $15 an hour for all, right? I predict that's what will be said about new research, even though that's not what the research actually says. READ MORE
Getting to know the ‘right’ people is key to getting the right salary
The people you know — and what they know about you — can be the key to landing a job, advancing in the workplace and getting paid what you are worth. READ MORE
Salary transparency helps to close the gender pay gap, but it also has a nasty side effect
A new study examines what happens when employees learn about each other’s pay READ MORE
How to Talk About Your Salary With Co-Workers
Breaking this taboo is crucial to getting paid what you’re worth—and it could help shrink the wage gap, too. READ MORE
This Is the Salary You Need to Afford the Average Home in Your State
Before you buy a home, it’s important to find out if you can afford the monthly mortgage payment.
To do this, some financial experts recommend your housing costs — primarily your mortgage payments — shouldn’t consume more than 30 percent of your monthly income. With this rule of thumb in mind, GOBankingRates looked at home prices and mortgage rates in every state and estimated the minimum salary needed to afford the average home. READ MORE
Here’s one powerful way to control CEO pay
Company shareholders are well-positioned to address income inequality by clamping down on sky high corporate pay, but new research says they’ll have to put their mouth where their money is. READ MORE
Wage theft a problem across industries, study says
After three years of driving for Omni Limousine, Kevin McSwiggin was fed up with his job.
According to filings with the U.S. District Court for Nevada, Omni employees were only paid an hourly wage if they were driving a client. Time spent cleaning the limo, completing paperwork, filling the vehicle with gas or verifying trip sheets was ignored. READ MORE
Rich states, poor states: How a federal minimum wage hike would widen the gap
With growing enthusiasm for lifting the federal minimum wage in Congress, it’s time to consider some data on wages and differences in the cost of living across the 50 states. The Raise the Wage Act, introduced by Rep. Bobby Scott, D-Va., in January with broad support from his party, would raise the federal minimum wage from the current $7.25 per hour (where it has been since 2009) to $15.00 in 2024. READ MORE
Time to read the tea leaves on exec comp
Executive compensation is a subject that populists are warming to, and it would be smarter for C-suite occupants to take action on their own than to let Washington do it for them when the economy sours. READ MORE
A model for exec comp? Look to the Friendly Confines.
CEOs don't hit home runs. They shouldn't be paid as if they did. READ MORE
Typical CEO pay package up 7% last year to a total $12 million
Did you get a 7% raise last year? Didn't think so. But, hey, if you did, then congratulations: Your raise was in line with what CEOs at the biggest companies got -- only for chief executives, that 7% was roughly $800,000 in additional compensation. READ MORE
CEO Pay: When investors give thumbs-down to soaring compensation packages
Shareholders are still voting overwhelmingly in favor of big pay packages for CEOs, but there are more pockets of resistance eight years after "Say on Pay" became a mandatory exercise at annual meetings. READ MORE
Musk Says His Tesla Compensation Was `Net Negative' Last Year
Tesla CEO Elon Musk said the compensation he received last year was “net negative” as he had paid for most of his company-related expenses, responding to a Twitter user’s comments on Wednesday. READ MORE