How many jobs would Bank of America be able to make if CEO

[Maraya1969]

gave up his salary?

CEO = $9,250,000

Average pay per worker = $35,000
(guesstimate by looking at pay scales for employees)

His salary divided by the the pay to the average worker.

$9,250,000/$35,000 = 264,285

So if the CEO gave up his salary there would be enough money to create 264,285 new jobs.

If he just cut his salary by 1,000,000 that would create 28,000

The reason there is a lack of jobs in this country is top executives and CEO's are stealing the money needed for potential jobs.

[msongs]

1. have moved all our money and business to local financial groups recently nt

[Tansy_Gold]

2. It's that simple

It's simple and it's fair.

It's also radical and socialistic. :evilgrin:


TG, TT

[RandomThoughts]

3. And for justice to be reestablished, such unjust actions must be corrected.

And I am due beer and travel money and many experiences.

[Name removed]

4. Deleted message

Message removed by moderator. Click here to review the message board rules.

[WillowTree]

5. Wanna try that long division with a decimal point thing again there Sparky?

[Maraya1969]

9. Where did I mess up?

[CommonSensePLZ]

6. Kicking the hell outta this.

Rec'king too.

[dmallind]

7. 9,250,000/35,000 =what?

264 and change in my book. Not hundreds of thousands. Not even close. Funnily enough though your number is close indeed to the number of BoA employees...

[CommonSensePLZ]

8. You're right

I was reading a bunch of other threads and didn't do the figures myself. I suspect we've gotten a decimal confused here. I'll have to take back my kick (even though I'm kicking this by replying lol).

Still a CEO makes 200 times what everyone else makes, you never think about it until you do.

[Maraya1969]

10. Would you please re-do the numbers and post it again? I really

think this information is important for people to know. The numbers sounded a little funny to me but that is what the calculator said. The calculator is now in the trash. (Very old, sticky keys and lots of L's and 9's)

[hugo_from_TN]

11. With benefits the fully burdened pay is likely >$50K

So that would be a total of 185 jobs. With around 200,000 employees they could increase their employment by about 0.1%.

[Obamanaut]

12. Bad math still gets multiple 'rec'. Another reason for 'rec' to go away. nt

[joshcryer]

13. It's more the misguided belief in wealth disparity.

I hate CEOs myself but monetary disparity has been regularly dropping around the world: http://www.youtube.com/watch?v=hVimVzgtD6w&feature=player_detailpage#t=387s

It keeps flattening out. And it illustrates (indirectly) that simply redistributing money doesn't do anything, you have to invest in social things. So an investor or a rich person just hiring a few hundred people is not going to affect as much change as taxing that person and investing it into social services. So you might get 50 people hired by those social services, but those 50 people are improving society directly (which would indirectly itself lead to, say, another 100 people being hired). In summation, a rich person investing in more employees is more like 100 jobs being created but taxing that rich person and investing in social services is more like 150 jobs being created. Make sense?

edit: I should say it would be nice if those nice rich people were all nice and sweet and hired more people, but the reality is that they don't hire people that there isn't demand for, so they aren't going to hire people. The best way is to tax them.

So yeah I can see why people buy that calculation without thinking critically.

And moreso, honestly reccing the post without giving it any thought.

[OneGrassRoot]

14. Interesting. Thanks for that analysis. :) n/t

[upi402]

15. 264 jobs is worth an outraged rec! n/t