When we think of high paying professions, particularly in the United States, a few often come to mind: surgeons, lawyers, engineers, accountants, dentists. For the most part, we have an understanding of what these careers entail and what route is taken to become one. A slightly more mysterious profession is that of a CEO, or Chief Executive Officer. Every CEO will have a different day depending on the company they run, but there is one thing they all seem to have in common: high wages.
Last month, TikTok user Emma Robins posted a video breaking down how massive the wage gap is between CEOs and their workers. The video has almost 100k likes and over 3,000 comments from fellow anti-capitalists. Below, you can read Emma’s explanation, as well as an interview with her, and decide for yourself whether or not these humongous CEO salaries are fair for employees.
And if you’re craving some redistribution of wealth after reading this piece, be sure to check out more Bored Panda articles in the vein of anti-capitalism here and here.
More info: TikTok
Last month, Emma Robins posted a TikTok breaking down the startling gap between the salaries of CEOs and their employees
Image credits: Pexels (not the actual photo)
Image credits: emmaisafeminist
Image credits: emmaisafeminist
Image credits: emmaisafeminist
Emma explained that CEOs make so much because they're calling the shots
Image credits: emmaisafeminist
If you’re not super familiar with what CEOs spend their time doing, you’re not alone. In 2018, CNBC published an article titled “Here’s what CEOs actually do all day”. The piece features a study from Harvard Business Review and breaks down how 27 CEOs of companies with an average annual income of $13.1 billion managed their time. For these CEOs, most working days were 9.7 hours long, and they tended to work almost 8 hours each weekend as well. After factoring in how much they work on vacation days, the grand total of the CEOs' average working week came out to 62.5 hours, about 18 hours more than most US employees. Within these working hours, there was a range of vague responsibilities. However, what takes up the bulk of their time is sitting in meetings. 72% of their time to be exact. The researchers also noted that face-to-face time is the most valuable asset for CEOs. It’s “the best way for [them] to exercise influence, learn what’s really going on, and delegate to move forward the multiple agendas that must be advanced. It also allows CEOs to best support and coach the people they work closely with."
Bored Panda got in touch with Emma to hear what inspired her to post the video, and she told us, “I think the wealth gap is one of the biggest problems in North American and British society. The rich get richer and the poor get poorer, and the rich keep telling the poor that they’ll be rich one day as long as they don’t upset the current system. But the current system is being abused and the situation is only getting worse for most people.” She went on to note that CEOs are only the tip of the iceberg and “a way of demonstrating that we’ve got to a point where we value a few individuals’ success and power over not just the comfort but even the survival of the community”.
She went on to say that these conversations are important because “it’s critical to challenge the assumptions and beliefs that we’ve internalized growing up under capitalism”. Some of those beliefs being “that success is measured with fame” and “that technological and corporate evolution is worth it even when that evolution comes at the cost of people’s land, food sources, housing, jobs”. “We are at the point where we are actively choosing to let people suffer.”
Lastly, we asked Emma what changes she would like to see. “I’d like to see CEOs taking care of their employees as much as they take care of their businesses. I’d like to see stripped back wage gaps, even lower than the 1965 levels in my opinion, but a significant drop.” She also calls for more employee owned businesses, more unions and CEOs encouraging unionizing, and more wage transparency. Emma also asks CEOs to “invest in equity and diversity, and bridging training, skills and education gaps for their existing employees and doing outreach work with their suppliers, partners and other clients”. Finally, Emma wants CEOs “paying their taxes, not avoiding tax just because they can” and “encouraging tax reform, including reform on government spending of taxpayers’ money”.
When it comes to why CEOs earn so much money, a Wise Geek article claims it’s because “they have made numerous personal sacrifices over the years for the good of their companies and have earned the right to share in the profits”. I cannot speak on the depth of sacrifices CEOs make, but I would argue that almost every employee ends up making some personal sacrifices for their career. It’s encouraged in today’s capitalist hustle culture. Most of us are just expected to do it for 1/350th of the salary.
How do you feel about the massive earnings of CEOs? Let us know in the comments if you think they’ve earned their wealth or if employees deserve a larger share!
You can watch the video to hear Emma's detailed explanation here
Viewers chimed in with shared frustration for the hoarding of wealth
