So that's a million dollars every week.
I have a really difficult time imagining that this person was overall profitable to the company.
I have a really difficult time imagining that this person was overall profitable to the company.
Doesn't seem outrageous put like that, or have I completely misunderstood?
Once they do that, its often assumed that all their success was their own work. To expect such people to build anything of real value is a expectations gone too wrong.
While they are at the top, they socialize with their equivalent highly paid buddies. Most of them are in the same league as their's. Its basically a mutual-protection club, in which you need to take care of each other.
>>level of impact is way higher than the janitor cleaning the floor in your offices.
In case of people like these, if exec was swapped with janitor, it would make 0 difference. The Janitor would probably even perform better than the exec.
But that's not the point.
Its almost like saying, if some one finds a clever way to cheat in an exam and manages to never get caught it must be perfectly acceptable.
You might enjoy the classic Twilight Zone episode "Of Late I Think of Cliffordville." It's available on TV.com.
So he received a lot of compensation in kind (and was probably worth it to Apple).
Certainly individuals can make or lose more than a million in a week for a company - for example the CEO of Ratners, Soros, the London Whale or other traders who make millions in one trade (or lose it). Likewise a salesperson might manage to seal a deal worth 100s of millions in future revenue over a couple of meetings. As someone on the creative side, this galls me somewhat, but it is nonetheless true - some positions do potentially bring in far more money for a company than others.
You may question whether they should be or need to be paid that much, particularly if other workers in the same company are paid very little, but I think it's indisputable that individuals can influence profits to that degree in some positions.
As an engineer, a manager, and a customer, I want to see skill and effort rewarded fairly and equitably. Absurd sales commissions and top executives earning a million dollars a week are nothing but theft from customers, stockholders, and the people doing the labor to create the product.
So is it really a case of the salesman bringing in all that money, or the combined effort of the entire team?
This is just an expression in the difference in scale between a single person's resources and those of a corporation - if any individual has access to the leverage and resources of a large corporation, they could easily make/lose a lot of money for that company very quickly, sometimes down to dumb luck, sometimes down to skill at their particular niche.
Of course the society which allows the limited liability company to exist might want to redistribute some of that wealth more evenly, because capitalism is pretty unfair and brutal in its raw form, but an individual can certainly be worth lots to a company in monetary terms, because they can make a lot.