In a world of 1%, Occupy Wallstreet, and many Americans angry with wealth inequality we got some pretty big news today.
In a new just-approved rule the world must come clean about their pay. Companies must now disclose the pay gap between workers and the CEO. USA Today states:
The average CEO of Standard & Poor's 500 companies were paid 216 times more than the median employees at their companies, according to a USA TODAY analysis of worker pay data from Glassdoor.com and CEO pay data from S&P Capital IQ.
Some CEOs making up to 800 times more than their workers.
I’m going to sum up the two responses I’m hearing the most:
It’s cool, yo
I mean they are the CEOs for a reason right? Now I know exactly how much they make and what it’s like to be them. It’s good that they are sharing this information, because if I believe in a world with less wealth inequality, then I can know what companies are working for that as well!
It’s not cool, dawg
You are revealing private information, and this rule is useless! The private information that is reveals could lead to a bad reputation for the company, and is also a shaming tactic for the CEOs that worked so hard to get where they are and deserve more pay!
Personally, I think it’s actually a good idea to disclose this information. It puts the company in perspective, and really reveals how worker-minded the company says they are.
Essentially it puts their money where their mouth is...