Friday, August 23, 2013

Bring on the consultants - Replay

How CEOs Jack Up their Pay, Kimberly Weisul, Editor & Founder of One Thing New:
"Poor, downtrodden, underpaid CEOs finally have someone they can turn to in their hour of need: compensation consultants.

"...there's a simple way to boost their pay. Just call in the compensation consultants--the more, the merrier.

  • "On average, when a firm adds a compensation consultant, CEO pay rises by 8.5%.
  • "Companies with larger boards pay CEOs more.
  • "Firms with larger compensation committees tend to employ more consultants.
"Cutting the CEO's paycheck, the researchers note, doesn't seem like a very good way to win repeat business or to get hired to consult in any other areas."

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  1. Succinct, to the point.

    Love the graphic.

    This supports my longtime view that compensation consultants have been a major cause of top brass salary increases.

    And the last line in the post should have been double bolded because it points directly to the root of the problem.

    Although I guess, it's only a problem if you're NOT a CEO>

  2. Consultants,
    University educated "know it alls" who have NEVER actually worked in the field they are hired to "streamline' .
    I always laugh when a consultant walks in and says, " We are here to listen to you and help your job become easier".

    Con-sultants usually mean layoffs, extra work, less pay.

    And when the "employee job satisfaction" survey results drop through the floor......
    Hire another consultant to find out why.
    Shakespeare was wrong. We should have first "Killed all the consultants , THEN the lawyers."



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