Reply #64: interesting, but where does the median salary data come from?

[hfojvt]

Going from Wells Fargo's annual report, they had wage expense of $13.87 billion and bonuses of $8.69 billion and benefits of $4.65 billion.

Making the average employee compensation equal to $97,185 (based on approximately 280,000 "team members".)

Of course, that includes upper and middle management which brings the average up, but even $50,000,000 for the CEO only reduces the total wages from $13.87 billion to $13.82 billion.

My guess is that there are a fair number of good jobs already at Wells Fargo. You only suggest making those good jobs even better, which does not do all that much for the rest of the working class, unless you think every worker in this country is working for a company that makes $45,000 in profit per employee.

Although surprisingly, the water department, where I am on the board, makes about $23,000 in profit per employee, and we really should be a non-profit. I am going to suggest reducing our profits next year by holding the line on water rates (either that or by paying end of the year dividends). We will see how that goes over. One trouble is that a 20% dividend would only be about $1.2 per customer per month. Are most customers really gonna care about $1 per month?