Olt is true that CEO pay has gone up—top ones may make CEO 300 times the pay of typical workers on average, and since the mid-1970s, CEO pay for large publicly traded American corporations has, by varying estimates, gone up by about 500%. ❷The typical CEO of a top American corporation now makes about $18.9 million a year.
❶The best model for understanding the growth of CEO (26) pay is that of limited CEO talent in a world where business opportunities for the top firms are growing rapidly.❷The efforts of America's highest-earning 1% have been one of the more dynamic elements of the global economy.❸It's not popular to say, but one reason their pay has gone up so much is that CEOs really have upped their game relative to many other workers in the U. S. economy.
❶ Today' 's CEO, at least for major American firms, must have many more skills than simply being able to "run the company.5，@CEOs must have a good sense of financial markets and maybe even how the company should trade in them. ❷They also need better public relations skills than their predecessors, as the costs of even a minor slipup can be significant. ❷Then there's the fact that large American companies are much more globalized than ever before, with supply chains spread across a larger number of countries. ❷To lead in that system requires knowledge that is fairly mind- boggling. ❷Plus, virtually all major American companies are becoming tech companies, often with their own research and development.❼And beyond this, major CEOs still have to do all the day-to-day work they have always done.
❶The common idea that high CEO pay is mainly about CEO ripping people off doesn't explain history very well. ❷By most measures, corporate governance has become a lot tighter and more rigorous since the 1970s. ❷Yet it is principally during this /period of stronger governance that CEO pay has been high and rising.❹That suggests it is in the broader corporate interest to recruit top candidates for increasingly tough jobs.
❶Furthermore, the highest CEO salaries are paid to outside candidates, not to the cozy insider picks, another sign that high CEO pay is not some kind of depredation at the expense of the rest of the company.❷And the stock market reacts positively when companies tie CEO pay to, say, stock prices, a sign that those practices build up corporate value not just for the CEO. IE1
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的薪资确实上涨了——顶级CEO的 平均薪资可能是普通员工的300倍。且各种不 同方式的估算都表明，自20世纪70年代中期 以来，美国大型上市公司CEO的薪资已经上 涨了约500%。现在，美国顶级公司具有代表 性的CEO年薪已经达到1890万美元左右。 最能使人们理解CEO薪资增长的 一个说法是，全球范围内顶级公司的商机正 在迅速增长，但CEO人才却很有限。美国收 入最高的1%的人所做出的努力，已成为全 球经济更具活力的要素之一。这种说法并不 普遍，但CEO的薪资增幅如此之大的一个原 因是，与美国经济中的许多其他员工相比， 他们的确提升了自身的能力。 如今的CEO,至少对美国的大型公司来说， 必须具备更多的技能，而不仅仅是能够"经 营公司”。CEO必须对金融市场有深刻的认识， 甚至可能需要了解公司在金融市场中应如何 存活和发展。他们也需要比他们的前辈拥有 更好的公关技巧，因为一个小小的失误也可 能付出巨大的代价。(27)事实上，随着供应 链遍布更多的国家，美国大型公司比以往任 何时候都更加全球化。在这样的系统中发挥 领导作用需要掌握的知识之多令人难以想象。 而且，几乎所有美国的大型公司都在变成科 技公司，这些公司通常都有自己的研发中心。 除此之外，大部分CEO还必须做他们一直以 来都在做的日常工作。 的高薪主要与剥削员工有关，这一 普遍观点与历史情况并不相符。(28)从大 多数衡量标准来看，自20世纪70年代以来， 公司管理愈发严格。然而，主要在公司管参 理力度加大的这段时期内，CEO的薪资维持 在一个相当高的水平，而且还在不断上涨。 这表明，为日益艰难的工作聘请顶尖人才是 为了公司更广泛的利益。 此外，CEO的最高薪资是付给外部候选 人的，而非那些身处安逸环境之中的内部人 选，这也表明CEO的高薪并不是牺牲公司其 他员工的利益得来的。（29）比如，当公司 将CEO薪资与股票价格挂钩时，股票市场就 会做出积极反应，这表明这些举措不只增加 了 CEO的个人薪资，也增加了企业价值。多瓠