Monday, April 02, 2012

Big Wages Ensures Best Performance

This is the argument that the sort of people who receive huge salaries and bonuses keep telling us, that they can only attract the best and most able candidates for a job if they are free to pay what they determine that the job is worth. So for the last couple of decades banks and financial institutions have been mostly free to pay their top executives what they will, and it has been a huge amount.

By their own reckoning then, the financiers and merchant bankers must have been able to employ the very best, the absolute cream of the crop, the finest and most astute minds available to the business fraternity. And yet the economy is a staggering shambles lurching from one financial disaster to the next.  How can they continually claim that their salary and bonus scheme argument holds water ? Or is it just the case that if we've got a bowl of rose scented water filled with gold flakes, then it doesn't matter if the rest of you are getting pissed on ?

1 comment:

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