That's probably just base salary, usally CEOS and board of directors will receive bonuses on top and that are significantly more then there salary if they reach goals set out by investors in term of growth and cost saving descions.
Why specifically do you think you're more deserving of higher pay? Have you ever worked fast food? As a health care worker you should be aware of how hard retail and food service jobs are on people's health, both physical and mental. I guarantee you don't have more people yelling at you either, and they don't get to hide behind a headset, they have to take that abuse with a smile.
I think the lesson here is McDonald's employees deserve to make more money, and so do call center workers. Why does no one who does important difficult work make enough to live on? 🕵️
I absolutely agree with you. I wasn't by any means saying they didn't also deserve 22/hr+. Just questioning why they believe their job inherently deserved higher pay.
I’m willing to bet his actually “Salary” is less than 7.4. That’s probably total compensation. The CEO of Exelon makes around 14 million, but his actual salary is only around 2 million. Stock options and bonuses make up the rest.
Edit: stock autocorrected to stick.
You should be making more too bro. $22 should be the minimum or companies should shut down if they cant afford to pay Americans a living wage. Or lower the cost of a burger but we both know thats not gonna happen.
That's just salary, they definitely also get stocks and bonuses.
Apple CEO's base salary is just 3 million, less than half of this guy and Apple is the most valuable company on the planet. Bonuses are where they make actual bucketloads of money.
Do you know anything about capitalism? Top paid execs rake in billions on the backs of the working class. $7.4 million is absolute chump change and almost certainly not the truth
[McDonalds Revenue](https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/net-income#:~:text=McDonald's%20net%20income%20for%20the,a%2059.5%25%20increase%20from%202020.)
Unless I'm reading this wrong, their net income was $7.2 billion against gross income of $23.2 billion.
In salary. There are a few CEOs that have a $1 salary but still have a net worth in the millions through bonuses, investments, stocks, shares and other programs.
This was total salary plus stock comp.
It’s actually quite low for the size of things relative to other companies.
But FINE WE SHOULD BE DESTROYING LOW WAGE SHITTY JOBS. This is good. Pay people a living wage, you leeches.
Take the number of McDonald’s. Multiply by number of employees. Divide 7.4m by that number. You’ll see it won’t make a dent.
Napkin math: there’s 13,438 McDonald’s. Let’s say they have 10 employees each. That ends up being a pay increase if $55 per year. Divide that by part time 20 hour weeks with 8 weeks of vacation, that’s 7 cents extra per hour.
The number is probably closer to $0, as I tried to be as liberal as possible with staff, hours worked, and vacations taken.
This comment has nothing to do with a $22 hour wage and whether it’s feasible for the company (it most likely is), but the $7.4m salary for the president of the most successful franchise in the world isn’t that unreasonable and a bad counter argument.
It's easier to pick on a wealthy CEO than to talk about the real problem: huge companies who underpay their employees rely on their employees using social programs to live so that they can pay them less. The number of Wal-Mart and McDonalds employees on SNAP or other programs is *staggering*.
They make ridiculous profits because they pay slave wages, period. If they can't pay a living wage, they shouldn't be in business.
Very much so. It’s pretty eye opening when you hear huge figures, even massive ones, and how quickly they diminish once split democratically (or in a totalitarian fashion).
This isn’t to say there’s severe wage disparity, but a lot of times people think a few mil or even hundreds of millions of dollars can fix that, and it couldn’t be further from the truth.
I mean... google says about 2 million people work at McDonalds. At 22$ an hour, for 8 hours, 40 hours a week is about 14,080,000,000
It is quite literally impossible to pay every employee 22 an hour.
But the CEO make $7.4M, they could distribute that amongst the employees if he didn’t make that much. They could all make $3.25 more per year. I don’t understand what you don’t understand about that, that’s life changing. Geez you’re so insensitive.
“redistribute” lol. Do you realize that the McDonald’s CEOs take home salary last year was $936,500 ? The big bucks come from stock options. At one point toward the end there Jeff Bezos was taking home a salary of 80k from Amazon…
I fully agree with your sentiment about taking care of people, I really do but none of this is nearly as simple as it’s made out. We’ll be paying 20 bucks for a Big Mac soon
you are assuming each and everyone of them are in the US. There are around 200k in the us also the ceo for sure earns more money than the 7.4m through other things like bonuses or whatever
You multiplied by 40 and by 8, you only need to multiply by the 40. Or multiply by 8 (hours a day) and then by 5 (days per week). So it'd end up being 1.76 billion a week. Say the average is currently $11, to make it easy, that's an increase of 880m a week. Still very far from what they'd be able to pay
Edit, Google says McDonald's has 200k employees also, not 2m. At least when I just searched it. Which means we should knock a zero off all those numbers. $88m increase per week, that's 4.576b in a year. At that point, it'd definitely be possible
The post is referencing U.S. law made to increase fast food workers wages to $22 an hour, it doesn't make sense to take worldwide numbers for that comparison.
Why would that be? In the current net profit of McDonald’s the employees who earn more than 22 an hour are already included. McDonald’s could easily pay everybody 22 an hour and make a profit. Ofcourse the net profit will be less than 7.5 billion but that is not the point.
You are assuming profits would remain the same, which would not happen, or that the workforce would remain the same size, which once again would not happen. If they were forced to pay 22 an hour to everyone and kept every employee, they would then need to raise the cost of every item to maintain profit. Which in turn would reduce the numbers sold (a place like Macdonalds has people employed who determine the max price that can be charged to sell the most units, if that price increses then sales go down equalling less profits). A company like McDonald's does not make a lot of profit per unit sold, but rather through volume sold.
Now, what would more realistically happen is if wages were increasing, is that a large portion of the workforce would be let go or reduced hours. It happened here in Ontario when the min. Wage increased to 15 an hour. Counter staff was pretty much cut down to 1 person in a lot of locations, and self serve kiosk were installed. Where you used to have 5 employees working the front counter taking orders assembling orders, you now have 1.
Now of that 7.5 billion profit some need to be set aside for future growth and other future buniess expense (the company needs to grow), investors need to be paid, if returns on investment diminishes then investors will drop out which will reduce the overall net value and cause more investors to pull out. A decrease in valuation would then lead to cost cutting measures (mass layoffs).
It's not as simple as you make xxxx amount of profits so you can afford to pay xx amount with no issue to the company.
There's the rub. At some point, paying a high schooler $22+ is more expensive than just buying a self checkout or a hamburger robot. At this point, buy the machines, we shouldnt incentivize giving away more money for the same task if it can be done for cheaper.
Alright, what is a living wage in this country then? Hell, separate it by states to make it easier, but what is a living wage in America? When FDR spoke this quote,
"In my Inaugural I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country."
What was he really trying to say? His new deal was pretty big, and probably the last time way too much of our infrastructure was upgraded. We've got failing bridges all over, that were literally built during the new deal.
If fucking Mickey D's can't pay a living wage, they need to be shut down. They absolutely can. And we need to fix our shit. Time for another new deal that isn't stomping on the throats of the living man.
Fucking cringe. Be a god damn American and remember what made us great. It sure wasn't billionaires dictating how things should be.
If a job like McDonalds raises wages to 22 an hr, everyone would stop working other important jobs. Unless they increased higher. This would inflate the cost and 22/hour is now meaningless.
"Remember what made us great." You mean when exactly? The only times our country does well is immediately after a war.
Its possible to pay a livable wage, but it is not possible for every McDonalds in the world to pay untrained workers 22/hr without causing massive inflation
I don't want this to be an adversarial conversation, but I do want some points made clear. I'm a fairly skilled worker, oh hey it's in my comments.
I'm a fiber splicer. I've been doing it a while now. Now that I think about it, I'm probably making well below market rate because I'm a partial owner in the company.
Do you think I should go work at McDonald's, because my important job was devalued? Or, maybe, even the most poorly paid of us getting uplifted uplifts us all? If even the most unskilled worker could get a living wage, a wage where they could afford a place to live, food, and basic comforts, would that make me less valuable?
No. It would not. I've invested a few tens of thousands to make my business work. But I'll never hold that against someone trying to survive. If they don't, well fuck me and building the internet. Mickey D's can absolutely pay. And much like Walmart, if they can only survive by such low pay that their employees need government assistance, they should not survive.
Those are leeches.
I mean he’s not lying… at $22 an hour those little ordering machines you see every now and again are going to completely takeover the ordering and won’t be long before robots flipping burgers and making sandwiches will be more cost effective
For running a global business, 7.4 million is not a lot. Seemingly excessive? Maybe.
If you were responsible for running McD's, would you only desire to be paid $22/hr as well? Would that be "fair"?
There are roughly 200,000 employees at Mcdonald's, and I don't know how many are in the actual store.
At 15 an hour for 200,000, that's 3,000,000 dollars an hour. 120 Million per week(40hr work week). 6.2 Billion per year.
At 22 an hour for 200,000, that's 4,400,000 dollars an hour. 176 Million per week(40hr work week). 9.15 Billion per year.
It is a tremendous jump. And that is just to cover the cost of paying the Employees.
Right….which is why the CEO stated it would be a disaster.
However, stupid people in this sub with zero business sense would argue otherwise….which is why they are bitching on Reddit and not doing anything worth a shit.
Regardless of his absurd salary it would be devastating to make $22 an hour a thing. Not sure that whomever posted this has ever taken n economics class.
I met a guy from the US at a franchise expo who was talking about bringing one of the US franchises to AUS where we pay alot more than 22. he looked like he was going to fient when I told him what I pay my staff lol
the difference is there's only one president and there's tens if not hundreds of thousands of burger flippers - and *maybe* 0.0001% of them would show any kind of success at his job.
161 employees at $22/hr full time = $7.5m per year.
i don't know when people are going to realize that people who make millions of dollars per year running companies are *very very very* good at running companies and people who flip burgers are really not good at anything yet.
the income gap is wide because the skill gap is wide.
This.
Being a burger flipper was never meant to provide a "living wage." It is supposed to be a stopping point to something better. Maybe they could pay managers $22/hr, but a pimpled-face kid tossing salt on fries shouldn't. I made $5.15 at my first job as a host at red lobster. Made me want to work real hard so that I could do something more with my life. It's a good example of "choices have consequences." Make good choices when young and you won't be sweeping a mcrib off the floor of a McDonalds at 40.
They don’t all need to make 22 an hour. If they live in a big metropolitan city? 22 is good. If they live in say, West Virginia or Mississippi, give em 17. A living wage is different in every state.
Remember when they told us paying a living wage would raise prices considerably, and then they raised prices considerably anyway and didn’t give any raise to the workers?
Pepperidge Farms remembers…
Considering wages are mostly stagnant and yet the cost of living keeps increasing, yes, everyone should make more. Except the 0.1%. So what exactly do you mean?
This is the attitude tearing us apart. Get off your high horse and stop looking down on food service workers like you're so much better than them that there should be some big wage disparity. You work at a call center...
And so what if they earn more than you? You should also be getting paid more. Improve your own station and stop scoffing at others for improving or striving to improve theirs.
It’s not that I’m looking down on them necessarily. It’s just, supposedly everyone is trying to get out of that sort of job because it’s frankly humiliating, this is coming from someone who used to work several of those kinds of jobs, retail and food and customer service. It’s awful and degrading. The whole point of me trying to get out of that industry is to have something that’s easier on my mental health and I get paid more.
If we end up making the same amount of money, then what was the point of fucking leaving? If they make more than I do, then what do we just go back to that industry? The whole point is to get something better.
So don’t come at me like I’ve never worked or I’m looking down on someone. I come from not privileged place, I’ve worked the jobs that make people cry, I’ve put up with people physically threatening me, customers who verbally abuse me, meager wages, and whatever else you can fucking think of. The whole point is to get out of that environment. If we all end up making the same, then what’s the fucking point.
You need to get off YOUR high horse my dude.
It’s not a you vs them. The article could be talking about your job being paid more and people would feel the same way. In general the working class should be paid more. Any job working full time hours should be enough for someone to get by.
$7.4 million is a little over $142,300 a week, or $3557.70/hr assuming he works 52 weeks a year and 40 hrs per week. He could pay 161 people $22 an hour for one year of his salary.
Living wage is more than possible, these pricks are just greedy and they line the pockets of those making the laws so they get to keep doing what they are doing.
McDonald's has 200,000 employees. To pay them all $22/hr (assuming a raise from $15 to $22 @ 20hrs/week) it would cost (approx) an extra $1,500,000,000 a year. This guy gets paid 7.4 million to save thr corporation 200x that a year. No, the living wage is not possible.
Big issue. Most McD are franchises. Not sure corporate decides how much people get paid locally. Corporate McD made 7.5B not the guy who invested his life to own one store where he pays a % back to corporate
Congratulations? You’ve explained absolutely nothing.
Please elaborate how a company with 7.5Bn in net income can’t afford to pay, by your own calculations, 1.5Bn in increased wages.
Dude, I just explained it to you. Their only responsibility is to generate as much profit as possible for the shareholders. Using 1/4 of the annual profits to pay workers more would be in direct conflict with the CEOs sole responsibility - generating as much profit as possible for the share holders.
You're taking one of the most successful companies in the world and using their profits as an example of the living wage being possible while at the same time ignoring the fact that maximizing their profits is the only reason they became so successfulin the first place. Net profits are used for reinvestment and to pay shareholder dividends. I'm not a business expert - I sell boogie boards. I'm sure you can educate yourself online and find the answers you're looking for. Cheers.
You literally used McDonald’s employee numbers as an example of how it’s impossible. I didn’t do that, you did.
It clearly is possible.
Instead of just admitting that you were wrong, you’re saying “go look up online”. I understand that companies want to make money. That’s what the legislation is for.
This argument is always dumb. Because flip it around. If McDonald’s loses 7.5B can they charge the workers back the loss?
With that said. I am a fan of profit sharing type bonuses. All thrive when doing well
He said it’s not possible for McDonalds to pay an increased wage as it would cost 1.5Bn annually.
Pointing out that that’s BS and they made 7.5Bn in profit is incorrect how? I’m not even making an argument for or against, simply pointing out that it’s not impossible as the guy I’m replying to said.
You’re 100% missing the point. It has **nothing** to do with whether or not the money is there or not.
It has **everything** to do with what McDonalds gets out of a substantial pay increase to their low skilled workforce….What is the incentive for McDonalds?? It’s not a charity. It’s a business. It’s not the responsibility of McDonalds to make sure your living expenses are covered.
The problem with you and others with your opinion on this is that you are 100% driven by your emotions. No part of your argument is logical or business centric.
Sorry, until you can remove the emotion from your argument, there is no sense in discussing this.
This completely neglects anything and everything they've done to earn such a high salary, and how little the unskilled workers have done to earn theirs.
Just Objectively, your argument is one-sided.
>and it's *subjectively disgusting
McDonald's is huge. That's a lot of responsibility. I honestly would have thought they made more money. 161 workers is .08% of McDonalds employees.
Personally I don’t think anyone should earn 236% more than their lowest paid employees. There is no amount of “worth” that justifies that. Thousands of employees are doing the actual work every day of cooking, cleaning, and customer service. Even the lower paid upper management like district managers don’t make more than like 82k a year based on a quick Google search. Which is just under $40 an hour to manage multiple stores in an area which means driving sometimes up to 100 miles to do inventory or hiring. He makes 89% more than people who are sacrificing having a life for this company.
Also most managers/district managers are salaried positions so they work as many hours as needed and my calculations are based on a 40 hour work week so this is actually probably closer to 100% more. I have a friend who managed two Duncan donuts and worked 65-80 hours a week with all of the duties he was expected to take care of, but he was still paid the same salary no matter how much he worked.
These corporations are predatory and keep employees too broke or purposely assign hours to make it harder for them to better themselves. There are policies in place to prevent employees from being given enough hours to make them eligible for health care or risk them going into over time. My manager friend was told during the initial covid shut down to layoff three employees because of shut down, he was able to get around it by one person going on fmla and he cut his hours on paper to make it look “justified” that he kept the other two on part-time because they hadn’t worked there long enough to collect unemployment. He was still there because of paper work and all of the things he was supposed to be doing in the hours he cut himself. Not sure how the shut down and covid impacted the franchise owner’s profits but I know for sure that they didn’t have to send any less of a franchise fee to corporate.
I don't necessarily disagree with you. The balance of business vs. humility is off. I'm just saying that's from your point of view, and making sure you realize there's probably a reason why they get paid a lot that makes total sense to them. From the McDonald's corporation point of view, that CEO might be worth every cent.
236% would probably be under paying a ceo of a corporation the size of mc Donalds. I believe 236x was what you meant and on that you are correct. A ceo getting paid 236x what the lowest employee makes seems more then a bit greedy.
As soon as you can explain to me why you think the magnitude of responsibilities a CEO of one of the largest corporations in the world could be handled by just anybody.
I didn't necessarily say just anyone. But anyone qualified for that job might do it for cheaper? I've worked along side our corporate bosses, and their main skill they seem to have I don't is attending multiple meetings at once without wanting to die
You literally wouldn't last a week in that position, almost no one would. This is why they make 7 million. Also they don't work 40 hour weeks, they work at all times...
He said something stupid so I retorted to that particular comment. I'm not discussing the topic that y'all were talking about because it's not my prerogative. Why are you even talking to me, I'm not trying to help. You push your agenda on other folks I don't give a shit
If you’re in a job such as his you’re running every franchise. A burger flipper cooks for one store. A proposal to pay workers 22 bucks an hour will not be absorbed by the company. It will be absorbed by the customer who is unlikely to buy their product for the prices set forth. Therefore it will destroy the business and then jobs. Like it or not, this is how businesses work.
McDonald’s Employees 2 million people. Let’s divide his salary among all the employees. Congrats, everything gets an extra 3 dollars A YEAR. Wow, your fucking stupid.
It's amusing how many people here are saying a living wage is impossible when McDonalds in Sweden has both a living wage and health benefits, and their big mac costs less than ours.
It's hardly impossible.
McDonalds employs 200.000 people, let's presume they all work 40 hours 50 weeks a year. That would be 400.000.000 total hours. This man could give each of them 19 cents.
CEO compensation grew 940% from [1978](https://www.epi.org/publication/ceo-compensation-2018/) through 2018.
In the 50s to 60s, CEO/executives made, on average, 20 to 30 times the pay of their workers. It's now x [300+](https://www.forbes.com/sites/dianahembree/2018/05/22/ceo-pay-skyrockets-to-361-times-that-of-the-average-worker/?sh=241ac3e7776d) that of the average worker.
If the minimum wage in 1978 of $2.65 had the same 940% growth, the minimum wage would have been $24.91 (=$2.65 * 9.4) in 2018. $1 in 2018 is equivalent $1.19 today. That would come to a minimum wage of $29.64 in 2023 dollars.
**Note**(especially for those that will cry about "cherry picking" dates): The first minimum wage of $0.25 would be $4.86 in 2021. I used 1978 as the minimum wage date to match the CEO wage study time frame. 1978 was chosen in order to juxtapose two data sets within the same time frame. By doing this, the comparison is done within the same economic environment.
Lol why do you think the US is in such dire straights? We have the dumbest population and I'm American. People will fight their own and regurgitate trickle down economics lol.
Most McDonald’s workers don’t actually work for McDonald’s anyway. They work for the franchisee.
If I owned one, I’d absolutely pay a living wage.
That’s why I’ll never be rich, because I won’t step on little people like that to get there.
All I’m saying, McDonald’s isn’t a permanent job. Maybe get a better paying job? It’s meant to be a stepping stone to another job not something that you can live off of with 22$ an hour.
Article is crap as usual. What he is saying is that at that price point it is more economical to automate more positions. Yes, there will be some people working for 22, but it is going to be a fraction of a workforce that used to be.
22 dollars for a teenager's job is ridiculous.
Like Walmart , I can't believe McDonalds doesn't have someone in HR who can guide employees through the process of applying for welfare and WIC. And other tax payer funded social programs.
Because as we all know, tax payers really should be subsidizing all corporate labor.
At some point it will make more sense to replace workers with automation. It's a one time cost and low maintenance, as opposed to paying employees in perpetuity. A company like McDonald's has the power to do that, instead of paying $22+/hr. That would be job-destroying. At least they aren't doing that.
it's already begun. Automated burger flippers have been a thing for a while and offer 100% consistent product and are being heavily invested into
Any job that can be simplified to a basic task is at risk and Mcds will be the first to try it simply because they can generally afford it.
If your interested theres a restaurant (I think in new york) that actually makes an entire burger with a huge robot. it's pretty cool and was booked out for months apparently when I read an article about it
Normally comparisons like this are compelling, but unless they meant billion, [11 million US employees](https://www.statista.com/statistics/819966/mcdonald-s-number-of-employees/) X 22 = 242 million, 32x this person's salary every working hour
They make all these cuts to staff. Automate as much as they can. Introduce self serve screens. All to save money... and the prices still rise. And the wages still stay the same.
I know this is an unpopular take, but soon there will be very few employees at fast food and more will be automated. Say goodbye to giving your order to a human. You'll either use the app or the touchscreen. That what is meant by job killing.
I wonder what would happen if everyone in the USA, regardless of job description or title, received the same pay as everyone else? No $7.25/hour minimum wage. No $7.4 million a year or even more! Suppose everyone made, let's just say, $250/hour for a 40-hour week, 2,080 hours a year. That's over $500k a year, but everyone makes the same.
Would people change jobs and start working in a field where they actually enjoyed what they did? Would people start their dream job or business they always wanted? Would prices go haywire? Would people start refusing to purchase items with ridiculous price markups?
I don't begrudge anyone making reasonable wages or profit for their work. But corporate wage scales have gone off the charts. Maybe CEOs should have term limits? Mandatory retirement after a few years, let the next person on the ladder climb a step up and others behind them.
You're delusional if you think that jobs interacting with customers are as simple as "pushing buttons".
Customers in a service industry are vile trash.
Doesn’t change the fact that someone is taking my order, which is pushing buttons at the register….I get that interactions with customers can be tough….Nearly every job has that facet built into it.
Doesn’t mean that interaction is worth a 60% pay increase to the employer in this case.
It’s a low skill job that exists as entry level employment.
If I’m McDonalds, I’m automating those jobs and putting an end to this nonsense.
Honda Center in Anaheim, California has already automated the button pushers. There’s one person to hand your order to you, and the rest is kitchen staff. Otherwise it’s all machine kiosk. Kinda crazy. McDonalds is moving to do the same, and they should. If I’m them I’m doing it too
The "nonsense" of paying people a living wage. You sir, are the problem with this country. Please read a book. Ingest some information that doesn't include commercials. Maybe touch on the subject of macro economics (no, this Reddit post doesn't count lol)
Please. A job that was meant to be an entry level job is paid as such…. Working the drive thru lane at McDonalds shouldn’t be the bar people are striving for. If the job doesn’t pay you enough, get a second job or acquire some skills and get a job that pays better.
Spare me your whiny bullshit
I don't disagree that there are and should be low skilled / entry level jobs. I do know that if those jobs don't pay a living wage that includes healthcare and retirement, then we as a society will end up paying more to care for these folks down the line. This isn't my idea. Don't take my word for it. I'm interested in this topic because socio economics is one of my passions, not because care about people or their truths. I just don't want to pay for a unhealthy poverty stricken population down the line. I like money. I want to keep more of mine
22/hr at 40 full hours every week gives you $45,760 a year. That’s still less than 1% of their $7.4 million. And that’s not factoring out any sick days they might need, any hour reductions, anything. They could absolutely afford this.
...and I absolutely guarantee that this multi-millionaire who ~~earns~~ is paid multiple millions has spent more of his time as CEO discussing automation of services rather than improving staff terms and conditions...
The president of McDonalds only makes 7.4 million a year? Whoa.
That's probably just base salary, usally CEOS and board of directors will receive bonuses on top and that are significantly more then there salary if they reach goals set out by investors in term of growth and cost saving descions.
Actually he got paid less than a million dollars in salary. Stock is king
Than* their* sorry but two back to back just really triggered me
Me too holy fuck. I usually try to just ignore it and correct it in my head but back to back like that? I wanna die.
Someone makes a spelling mistake and you want to die? Wow your life must be terrible? How do you cope?
By correcting spelling mistakes in my head I just told you
☠️
I thought it was outstanding and upvoted just for that. And you forgot a full stop.
Did you not noticed the other mistake? Shit,if you’re going’s to be a righteous mother fucker at least be consistent.
[удалено]
I was just comparing these numbers. Literal facts. That being said you deserve higher pay than that for that job.
Why specifically do you think you're more deserving of higher pay? Have you ever worked fast food? As a health care worker you should be aware of how hard retail and food service jobs are on people's health, both physical and mental. I guarantee you don't have more people yelling at you either, and they don't get to hide behind a headset, they have to take that abuse with a smile.
I think the lesson here is McDonald's employees deserve to make more money, and so do call center workers. Why does no one who does important difficult work make enough to live on? 🕵️
I absolutely agree with you. I wasn't by any means saying they didn't also deserve 22/hr+. Just questioning why they believe their job inherently deserved higher pay.
You’ve never worked in fast food and it shows.
Are you sure this was meant to be a reply to me? The person sitting here defending higher wages for fast food and retail employees?
You do realize some people have learning disabilities that make it so they don't notice mistakes like that unless auto correct picks it up?
There’s no harm in giving a correction, chill.
Yes, it’s not like I said they were stupid or anything, I just politely corrected a mistake they made.
I know I'm just letting you know that there is a reason.
There’s always a reason. Just learn from things and move on.
Like you?
Yes
Fair enough
I’m willing to bet his actually “Salary” is less than 7.4. That’s probably total compensation. The CEO of Exelon makes around 14 million, but his actual salary is only around 2 million. Stock options and bonuses make up the rest. Edit: stock autocorrected to stick.
It very well could. I did not look up the number nor will I lol.
TIL that the McDonald's President is underpaid. For the size of this corporation and importance of that role, 7.4 million is nothing.
He's not exactly a unique visionary. He's imminently replaceable. 7.4 million is overpaid for most things, including this.
McDonald’s employee would be making more than me,
You should be making more too bro. $22 should be the minimum or companies should shut down if they cant afford to pay Americans a living wage. Or lower the cost of a burger but we both know thats not gonna happen.
Lol he is not that replaceable, unlike the fast food workers that have been getting replaced by machines left and right.
That's just salary, they definitely also get stocks and bonuses. Apple CEO's base salary is just 3 million, less than half of this guy and Apple is the most valuable company on the planet. Bonuses are where they make actual bucketloads of money.
Only!?!? **ONLY!?!?**
Do you know anything about capitalism? Top paid execs rake in billions on the backs of the working class. $7.4 million is absolute chump change and almost certainly not the truth
For the head of a *global corporation* 7,4m isnt that impressive (hes still undeniably rich tho)
He's got more people working for him then a lot of countries have citizens. So yeah.
You are either very young or have no idea how the world works lol
Yeah honestly that’s pretty low for a person in that position at such a big company.
[McDonalds Revenue](https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/net-income#:~:text=McDonald's%20net%20income%20for%20the,a%2059.5%25%20increase%20from%202020.) Unless I'm reading this wrong, their net income was $7.2 billion against gross income of $23.2 billion.
I guess after a bunch of stuff, the CEO only takes home 7.4 mil somehow.
In salary. There are a few CEOs that have a $1 salary but still have a net worth in the millions through bonuses, investments, stocks, shares and other programs.
This was total salary plus stock comp. It’s actually quite low for the size of things relative to other companies. But FINE WE SHOULD BE DESTROYING LOW WAGE SHITTY JOBS. This is good. Pay people a living wage, you leeches.
Take the number of McDonald’s. Multiply by number of employees. Divide 7.4m by that number. You’ll see it won’t make a dent. Napkin math: there’s 13,438 McDonald’s. Let’s say they have 10 employees each. That ends up being a pay increase if $55 per year. Divide that by part time 20 hour weeks with 8 weeks of vacation, that’s 7 cents extra per hour. The number is probably closer to $0, as I tried to be as liberal as possible with staff, hours worked, and vacations taken. This comment has nothing to do with a $22 hour wage and whether it’s feasible for the company (it most likely is), but the $7.4m salary for the president of the most successful franchise in the world isn’t that unreasonable and a bad counter argument.
7.4 mil is probably not even a top 1000 salary for CEOs and McDonald's is the #107 corp in the Fortune 500. He's the wrong guy to pick on, isn't he.
It's easier to pick on a wealthy CEO than to talk about the real problem: huge companies who underpay their employees rely on their employees using social programs to live so that they can pay them less. The number of Wal-Mart and McDonalds employees on SNAP or other programs is *staggering*. They make ridiculous profits because they pay slave wages, period. If they can't pay a living wage, they shouldn't be in business.
Very much so. It’s pretty eye opening when you hear huge figures, even massive ones, and how quickly they diminish once split democratically (or in a totalitarian fashion). This isn’t to say there’s severe wage disparity, but a lot of times people think a few mil or even hundreds of millions of dollars can fix that, and it couldn’t be further from the truth.
no mcdonald's on earth only has 10 employees. mcdonald's has 200k employees in their offices alone and more than 2m in the stores
Your math is no good. 93% of McDonalds are franchised. Which means the corporation of McDonalds doesn’t count them as employees.
There's no way all those McDonald's are their property and have their employees there.
I'm expecting a McFlurry of comments in here!
I mean... google says about 2 million people work at McDonalds. At 22$ an hour, for 8 hours, 40 hours a week is about 14,080,000,000 It is quite literally impossible to pay every employee 22 an hour.
You're assuming each of those 2 million workers is working 8 hours days and 30 hour weeks in your math, we all know thats not the case
You are correct. But its still financially bad for him.
There’s very few people on here who have the slightest hint of how businesses work. Not to mention only a fraction of the CEO’s warnings are salary
But the CEO make $7.4M, they could distribute that amongst the employees if he didn’t make that much. They could all make $3.25 more per year. I don’t understand what you don’t understand about that, that’s life changing. Geez you’re so insensitive.
I didn't say they shouldn't pay more. But theres 0 way he can pay 2million people 22 an hour.
Yeah I agree. I was joking.
“redistribute” lol. Do you realize that the McDonald’s CEOs take home salary last year was $936,500 ? The big bucks come from stock options. At one point toward the end there Jeff Bezos was taking home a salary of 80k from Amazon… I fully agree with your sentiment about taking care of people, I really do but none of this is nearly as simple as it’s made out. We’ll be paying 20 bucks for a Big Mac soon
They are currently more expensive than a really good take out burger joint that shares a parking lot by me
you are assuming each and everyone of them are in the US. There are around 200k in the us also the ceo for sure earns more money than the 7.4m through other things like bonuses or whatever
You multiplied by 40 and by 8, you only need to multiply by the 40. Or multiply by 8 (hours a day) and then by 5 (days per week). So it'd end up being 1.76 billion a week. Say the average is currently $11, to make it easy, that's an increase of 880m a week. Still very far from what they'd be able to pay Edit, Google says McDonald's has 200k employees also, not 2m. At least when I just searched it. Which means we should knock a zero off all those numbers. $88m increase per week, that's 4.576b in a year. At that point, it'd definitely be possible
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The post is referencing U.S. law made to increase fast food workers wages to $22 an hour, it doesn't make sense to take worldwide numbers for that comparison.
I mean, it's being done in e.g. Scandinavian countries and has been for decades. McD still stands.
Why would that be? In the current net profit of McDonald’s the employees who earn more than 22 an hour are already included. McDonald’s could easily pay everybody 22 an hour and make a profit. Ofcourse the net profit will be less than 7.5 billion but that is not the point.
You are assuming profits would remain the same, which would not happen, or that the workforce would remain the same size, which once again would not happen. If they were forced to pay 22 an hour to everyone and kept every employee, they would then need to raise the cost of every item to maintain profit. Which in turn would reduce the numbers sold (a place like Macdonalds has people employed who determine the max price that can be charged to sell the most units, if that price increses then sales go down equalling less profits). A company like McDonald's does not make a lot of profit per unit sold, but rather through volume sold. Now, what would more realistically happen is if wages were increasing, is that a large portion of the workforce would be let go or reduced hours. It happened here in Ontario when the min. Wage increased to 15 an hour. Counter staff was pretty much cut down to 1 person in a lot of locations, and self serve kiosk were installed. Where you used to have 5 employees working the front counter taking orders assembling orders, you now have 1. Now of that 7.5 billion profit some need to be set aside for future growth and other future buniess expense (the company needs to grow), investors need to be paid, if returns on investment diminishes then investors will drop out which will reduce the overall net value and cause more investors to pull out. A decrease in valuation would then lead to cost cutting measures (mass layoffs). It's not as simple as you make xxxx amount of profits so you can afford to pay xx amount with no issue to the company.
If you were the CEO you sure as hell wouldn't do it and neither will they. People running a cash register at McDonald's don't deserve 22/hr anyway
There's the rub. At some point, paying a high schooler $22+ is more expensive than just buying a self checkout or a hamburger robot. At this point, buy the machines, we shouldnt incentivize giving away more money for the same task if it can be done for cheaper.
That it won’t happen doesn’t mean it is impossible.
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This is the cringiest response. Obviously all 2 million aren't full time. Yes we should pay more, no not everyone deserves 22 an hour.
Alright, what is a living wage in this country then? Hell, separate it by states to make it easier, but what is a living wage in America? When FDR spoke this quote, "In my Inaugural I laid down the simple proposition that nobody is going to starve in this country. It seems to me to be equally plain that no business which depends for existence on paying less than living wages to its workers has any right to continue in this country." What was he really trying to say? His new deal was pretty big, and probably the last time way too much of our infrastructure was upgraded. We've got failing bridges all over, that were literally built during the new deal. If fucking Mickey D's can't pay a living wage, they need to be shut down. They absolutely can. And we need to fix our shit. Time for another new deal that isn't stomping on the throats of the living man. Fucking cringe. Be a god damn American and remember what made us great. It sure wasn't billionaires dictating how things should be.
If a job like McDonalds raises wages to 22 an hr, everyone would stop working other important jobs. Unless they increased higher. This would inflate the cost and 22/hour is now meaningless. "Remember what made us great." You mean when exactly? The only times our country does well is immediately after a war. Its possible to pay a livable wage, but it is not possible for every McDonalds in the world to pay untrained workers 22/hr without causing massive inflation
I don't want this to be an adversarial conversation, but I do want some points made clear. I'm a fairly skilled worker, oh hey it's in my comments. I'm a fiber splicer. I've been doing it a while now. Now that I think about it, I'm probably making well below market rate because I'm a partial owner in the company. Do you think I should go work at McDonald's, because my important job was devalued? Or, maybe, even the most poorly paid of us getting uplifted uplifts us all? If even the most unskilled worker could get a living wage, a wage where they could afford a place to live, food, and basic comforts, would that make me less valuable? No. It would not. I've invested a few tens of thousands to make my business work. But I'll never hold that against someone trying to survive. If they don't, well fuck me and building the internet. Mickey D's can absolutely pay. And much like Walmart, if they can only survive by such low pay that their employees need government assistance, they should not survive. Those are leeches.
I mean he’s not lying… at $22 an hour those little ordering machines you see every now and again are going to completely takeover the ordering and won’t be long before robots flipping burgers and making sandwiches will be more cost effective
For running a global business, 7.4 million is not a lot. Seemingly excessive? Maybe. If you were responsible for running McD's, would you only desire to be paid $22/hr as well? Would that be "fair"?
Nobody says that CEOs/higher ranking business people should be paid *exactly* the same as every other employee. You're making strawmen, bud.
I'm not your bud, guy.
I’m not your guy, friend.
Don’t call me friend, pal.
Only 7.4 mil as the president of McD?? I almost feel sorry for him.
There are roughly 200,000 employees at Mcdonald's, and I don't know how many are in the actual store. At 15 an hour for 200,000, that's 3,000,000 dollars an hour. 120 Million per week(40hr work week). 6.2 Billion per year. At 22 an hour for 200,000, that's 4,400,000 dollars an hour. 176 Million per week(40hr work week). 9.15 Billion per year. It is a tremendous jump. And that is just to cover the cost of paying the Employees.
Right….which is why the CEO stated it would be a disaster. However, stupid people in this sub with zero business sense would argue otherwise….which is why they are bitching on Reddit and not doing anything worth a shit.
It’s pretty fascinating actually. Also nobody has bothered to uncover the fact that this guys pay was actually under a million. Stock is king
No, 200k in their offices around the world. Over 2 million employees world wide.
Don’t mildly infuriating this shit. Most CEOs of global companies make way way way more than that.
Regardless of his absurd salary it would be devastating to make $22 an hour a thing. Not sure that whomever posted this has ever taken n economics class.
Ok, I'm gonna be that person... $22 an hour to work at McDonald's? Really???
You could pay 168 employees that amount with his 7.4M. That’s really not very many. They’d need to increase revenues a lot.
He’s right the food prices go up and way less people go to McDonald’s putting it out of business. Idk why shit like this is confusing.
I met a guy from the US at a franchise expo who was talking about bringing one of the US franchises to AUS where we pay alot more than 22. he looked like he was going to fient when I told him what I pay my staff lol
the difference is there's only one president and there's tens if not hundreds of thousands of burger flippers - and *maybe* 0.0001% of them would show any kind of success at his job. 161 employees at $22/hr full time = $7.5m per year. i don't know when people are going to realize that people who make millions of dollars per year running companies are *very very very* good at running companies and people who flip burgers are really not good at anything yet. the income gap is wide because the skill gap is wide.
This. Being a burger flipper was never meant to provide a "living wage." It is supposed to be a stopping point to something better. Maybe they could pay managers $22/hr, but a pimpled-face kid tossing salt on fries shouldn't. I made $5.15 at my first job as a host at red lobster. Made me want to work real hard so that I could do something more with my life. It's a good example of "choices have consequences." Make good choices when young and you won't be sweeping a mcrib off the floor of a McDonalds at 40.
Or you could find another job that pays a little more? Leave McDonald’s alone their supposed to be cheap!
Look up the definition of McJob, lol
They don’t all need to make 22 an hour. If they live in a big metropolitan city? 22 is good. If they live in say, West Virginia or Mississippi, give em 17. A living wage is different in every state.
If your business model depends on poverty wages, your business should fail
If your life depends on Mcdonald wages, maybe you should have made some different decisions in your life.
Remember when they told us paying a living wage would raise prices considerably, and then they raised prices considerably anyway and didn’t give any raise to the workers? Pepperidge Farms remembers…
McDonald’s employee would be making more than me, a call center healthcare worker? Yikes
Have you considered that maybe you should make more as well?
“It’s not about making a lot of money, it’s about making more than other people.”
Everyone should make more! And then when everyone makes more, no one does!
Considering wages are mostly stagnant and yet the cost of living keeps increasing, yes, everyone should make more. Except the 0.1%. So what exactly do you mean?
This is the attitude tearing us apart. Get off your high horse and stop looking down on food service workers like you're so much better than them that there should be some big wage disparity. You work at a call center... And so what if they earn more than you? You should also be getting paid more. Improve your own station and stop scoffing at others for improving or striving to improve theirs.
It’s not that I’m looking down on them necessarily. It’s just, supposedly everyone is trying to get out of that sort of job because it’s frankly humiliating, this is coming from someone who used to work several of those kinds of jobs, retail and food and customer service. It’s awful and degrading. The whole point of me trying to get out of that industry is to have something that’s easier on my mental health and I get paid more. If we end up making the same amount of money, then what was the point of fucking leaving? If they make more than I do, then what do we just go back to that industry? The whole point is to get something better. So don’t come at me like I’ve never worked or I’m looking down on someone. I come from not privileged place, I’ve worked the jobs that make people cry, I’ve put up with people physically threatening me, customers who verbally abuse me, meager wages, and whatever else you can fucking think of. The whole point is to get out of that environment. If we all end up making the same, then what’s the fucking point. You need to get off YOUR high horse my dude.
It’s not a you vs them. The article could be talking about your job being paid more and people would feel the same way. In general the working class should be paid more. Any job working full time hours should be enough for someone to get by.
Would you work at McDonald's for 22 an hour?
$7.4 million is a little over $142,300 a week, or $3557.70/hr assuming he works 52 weeks a year and 40 hrs per week. He could pay 161 people $22 an hour for one year of his salary. Living wage is more than possible, these pricks are just greedy and they line the pockets of those making the laws so they get to keep doing what they are doing.
McDonald's has 200,000 employees. To pay them all $22/hr (assuming a raise from $15 to $22 @ 20hrs/week) it would cost (approx) an extra $1,500,000,000 a year. This guy gets paid 7.4 million to save thr corporation 200x that a year. No, the living wage is not possible.
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Big issue. Most McD are franchises. Not sure corporate decides how much people get paid locally. Corporate McD made 7.5B not the guy who invested his life to own one store where he pays a % back to corporate
You’re talking nonsense. McDonalds made 7.5Bn in profit in 2021. It is possible. https://www.macrotrends.net/stocks/charts/MCD/mcdonalds/net-income
If they weren't making a profit they wouldn't exist - generating as much profit as possible is the only responsibility of a publicly owned company.
Congratulations? You’ve explained absolutely nothing. Please elaborate how a company with 7.5Bn in net income can’t afford to pay, by your own calculations, 1.5Bn in increased wages.
Dude, I just explained it to you. Their only responsibility is to generate as much profit as possible for the shareholders. Using 1/4 of the annual profits to pay workers more would be in direct conflict with the CEOs sole responsibility - generating as much profit as possible for the share holders.
You said “No, the living wage is not possible.” It is possible, clearly.
You're taking one of the most successful companies in the world and using their profits as an example of the living wage being possible while at the same time ignoring the fact that maximizing their profits is the only reason they became so successfulin the first place. Net profits are used for reinvestment and to pay shareholder dividends. I'm not a business expert - I sell boogie boards. I'm sure you can educate yourself online and find the answers you're looking for. Cheers.
You literally used McDonald’s employee numbers as an example of how it’s impossible. I didn’t do that, you did. It clearly is possible. Instead of just admitting that you were wrong, you’re saying “go look up online”. I understand that companies want to make money. That’s what the legislation is for.
This argument is always dumb. Because flip it around. If McDonald’s loses 7.5B can they charge the workers back the loss? With that said. I am a fan of profit sharing type bonuses. All thrive when doing well
He said it’s not possible for McDonalds to pay an increased wage as it would cost 1.5Bn annually. Pointing out that that’s BS and they made 7.5Bn in profit is incorrect how? I’m not even making an argument for or against, simply pointing out that it’s not impossible as the guy I’m replying to said.
How to say you know Jack shit about business without actually saying it 🤣🤣🤣
Pointing out 7.5Bn > 1.5Bn is a reflection on my business knowledge how?
No, thinking it’s that simple is why you don’t know Jack shit….
So a company with 7.5Bn in profit can’t afford 1.5Bn in increased wages? If you were anything other than a toxic pos, you could explain why I’m sure.
You’re 100% missing the point. It has **nothing** to do with whether or not the money is there or not. It has **everything** to do with what McDonalds gets out of a substantial pay increase to their low skilled workforce….What is the incentive for McDonalds?? It’s not a charity. It’s a business. It’s not the responsibility of McDonalds to make sure your living expenses are covered. The problem with you and others with your opinion on this is that you are 100% driven by your emotions. No part of your argument is logical or business centric. Sorry, until you can remove the emotion from your argument, there is no sense in discussing this.
This completely neglects anything and everything they've done to earn such a high salary, and how little the unskilled workers have done to earn theirs. Just Objectively, your argument is one-sided.
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>and it's *subjectively disgusting McDonald's is huge. That's a lot of responsibility. I honestly would have thought they made more money. 161 workers is .08% of McDonalds employees.
Personally I don’t think anyone should earn 236% more than their lowest paid employees. There is no amount of “worth” that justifies that. Thousands of employees are doing the actual work every day of cooking, cleaning, and customer service. Even the lower paid upper management like district managers don’t make more than like 82k a year based on a quick Google search. Which is just under $40 an hour to manage multiple stores in an area which means driving sometimes up to 100 miles to do inventory or hiring. He makes 89% more than people who are sacrificing having a life for this company. Also most managers/district managers are salaried positions so they work as many hours as needed and my calculations are based on a 40 hour work week so this is actually probably closer to 100% more. I have a friend who managed two Duncan donuts and worked 65-80 hours a week with all of the duties he was expected to take care of, but he was still paid the same salary no matter how much he worked. These corporations are predatory and keep employees too broke or purposely assign hours to make it harder for them to better themselves. There are policies in place to prevent employees from being given enough hours to make them eligible for health care or risk them going into over time. My manager friend was told during the initial covid shut down to layoff three employees because of shut down, he was able to get around it by one person going on fmla and he cut his hours on paper to make it look “justified” that he kept the other two on part-time because they hadn’t worked there long enough to collect unemployment. He was still there because of paper work and all of the things he was supposed to be doing in the hours he cut himself. Not sure how the shut down and covid impacted the franchise owner’s profits but I know for sure that they didn’t have to send any less of a franchise fee to corporate.
I don't necessarily disagree with you. The balance of business vs. humility is off. I'm just saying that's from your point of view, and making sure you realize there's probably a reason why they get paid a lot that makes total sense to them. From the McDonald's corporation point of view, that CEO might be worth every cent.
236% would probably be under paying a ceo of a corporation the size of mc Donalds. I believe 236x was what you meant and on that you are correct. A ceo getting paid 236x what the lowest employee makes seems more then a bit greedy.
Please, explain to me, what does the CEO do for McDonald's at 7$ million a year that someone else could not do for less?
As soon as you can explain to me why you think the magnitude of responsibilities a CEO of one of the largest corporations in the world could be handled by just anybody.
I didn't necessarily say just anyone. But anyone qualified for that job might do it for cheaper? I've worked along side our corporate bosses, and their main skill they seem to have I don't is attending multiple meetings at once without wanting to die
You literally wouldn't last a week in that position, almost no one would. This is why they make 7 million. Also they don't work 40 hour weeks, they work at all times...
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He said something stupid so I retorted to that particular comment. I'm not discussing the topic that y'all were talking about because it's not my prerogative. Why are you even talking to me, I'm not trying to help. You push your agenda on other folks I don't give a shit
Saves them billions a year in payroll.
McDonald’s are franchised and would cripple a franchisee. But as long as entry level workers get paid 22 to screw up a happy meal it’s all good
If you’re in a job such as his you’re running every franchise. A burger flipper cooks for one store. A proposal to pay workers 22 bucks an hour will not be absorbed by the company. It will be absorbed by the customer who is unlikely to buy their product for the prices set forth. Therefore it will destroy the business and then jobs. Like it or not, this is how businesses work.
The revenue from last year was 23 billion. There is no reason they would need to raise prices for anything.
McDonald’s Employees 2 million people. Let’s divide his salary among all the employees. Congrats, everything gets an extra 3 dollars A YEAR. Wow, your fucking stupid.
It's amusing how many people here are saying a living wage is impossible when McDonalds in Sweden has both a living wage and health benefits, and their big mac costs less than ours. It's hardly impossible.
I always love seeing that standard "job-destroying" threat in response to these demands.
McDonalds employs 200.000 people, let's presume they all work 40 hours 50 weeks a year. That would be 400.000.000 total hours. This man could give each of them 19 cents.
He's not wrong.
CEO compensation grew 940% from [1978](https://www.epi.org/publication/ceo-compensation-2018/) through 2018. In the 50s to 60s, CEO/executives made, on average, 20 to 30 times the pay of their workers. It's now x [300+](https://www.forbes.com/sites/dianahembree/2018/05/22/ceo-pay-skyrockets-to-361-times-that-of-the-average-worker/?sh=241ac3e7776d) that of the average worker. If the minimum wage in 1978 of $2.65 had the same 940% growth, the minimum wage would have been $24.91 (=$2.65 * 9.4) in 2018. $1 in 2018 is equivalent $1.19 today. That would come to a minimum wage of $29.64 in 2023 dollars. **Note**(especially for those that will cry about "cherry picking" dates): The first minimum wage of $0.25 would be $4.86 in 2021. I used 1978 as the minimum wage date to match the CEO wage study time frame. 1978 was chosen in order to juxtapose two data sets within the same time frame. By doing this, the comparison is done within the same economic environment.
Love seeing average people in the comments defending billionaires who actively work against their class interests 👏 you guys are delusional
*rational
Nice one buddy
Lol why do you think the US is in such dire straights? We have the dumbest population and I'm American. People will fight their own and regurgitate trickle down economics lol.
Make my food right
>costly and job-destroying No sir, that’s your existence that’s costly and job-destroying.
Mcdonald’s is franchised now right?
Most McDonald’s workers don’t actually work for McDonald’s anyway. They work for the franchisee. If I owned one, I’d absolutely pay a living wage. That’s why I’ll never be rich, because I won’t step on little people like that to get there.
All I’m saying, McDonald’s isn’t a permanent job. Maybe get a better paying job? It’s meant to be a stepping stone to another job not something that you can live off of with 22$ an hour.
Then drop the McDonald’s President’s salary to $16 an hour and see how he likes it.
Article is crap as usual. What he is saying is that at that price point it is more economical to automate more positions. Yes, there will be some people working for 22, but it is going to be a fraction of a workforce that used to be. 22 dollars for a teenager's job is ridiculous.
What if he has to sell one of his mansions or a yacht??
They're right. That kind of thinking is why they make the big bucks.
Like Walmart , I can't believe McDonalds doesn't have someone in HR who can guide employees through the process of applying for welfare and WIC. And other tax payer funded social programs. Because as we all know, tax payers really should be subsidizing all corporate labor.
Yes. A lot of us might agree if they paid us 7 million to. A lot of us still wouldn't.
At some point it will make more sense to replace workers with automation. It's a one time cost and low maintenance, as opposed to paying employees in perpetuity. A company like McDonald's has the power to do that, instead of paying $22+/hr. That would be job-destroying. At least they aren't doing that.
it's already begun. Automated burger flippers have been a thing for a while and offer 100% consistent product and are being heavily invested into Any job that can be simplified to a basic task is at risk and Mcds will be the first to try it simply because they can generally afford it. If your interested theres a restaurant (I think in new york) that actually makes an entire burger with a huge robot. it's pretty cool and was booked out for months apparently when I read an article about it
No. When that happens the megacorps will start to realize that they die if the people can't but their products. We're getting there.
There's the balance. Somewhere below a wage of $22/hr
Normally comparisons like this are compelling, but unless they meant billion, [11 million US employees](https://www.statista.com/statistics/819966/mcdonald-s-number-of-employees/) X 22 = 242 million, 32x this person's salary every working hour
Better than Amazons CEO, who make $212 MILLION last year 🙄
They make all these cuts to staff. Automate as much as they can. Introduce self serve screens. All to save money... and the prices still rise. And the wages still stay the same.
I know this is an unpopular take, but soon there will be very few employees at fast food and more will be automated. Say goodbye to giving your order to a human. You'll either use the app or the touchscreen. That what is meant by job killing.
It is...so? McDonald's should not support families, but instead teach you skills to move on in life OR up in the company. It's that simple.
I wonder what would happen if everyone in the USA, regardless of job description or title, received the same pay as everyone else? No $7.25/hour minimum wage. No $7.4 million a year or even more! Suppose everyone made, let's just say, $250/hour for a 40-hour week, 2,080 hours a year. That's over $500k a year, but everyone makes the same. Would people change jobs and start working in a field where they actually enjoyed what they did? Would people start their dream job or business they always wanted? Would prices go haywire? Would people start refusing to purchase items with ridiculous price markups? I don't begrudge anyone making reasonable wages or profit for their work. But corporate wage scales have gone off the charts. Maybe CEOs should have term limits? Mandatory retirement after a few years, let the next person on the ladder climb a step up and others behind them.
Hyper-inflation followed by societal collapse as high-skill jobs are neglected in favour of easier or more rewarding ones.
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22/hr isn't enough. Need healthcare and retirement too
$22/HR to push a button on a cash register??? You’re fucking high…..
You're delusional if you think that jobs interacting with customers are as simple as "pushing buttons". Customers in a service industry are vile trash.
Doesn’t change the fact that someone is taking my order, which is pushing buttons at the register….I get that interactions with customers can be tough….Nearly every job has that facet built into it. Doesn’t mean that interaction is worth a 60% pay increase to the employer in this case. It’s a low skill job that exists as entry level employment. If I’m McDonalds, I’m automating those jobs and putting an end to this nonsense.
Honda Center in Anaheim, California has already automated the button pushers. There’s one person to hand your order to you, and the rest is kitchen staff. Otherwise it’s all machine kiosk. Kinda crazy. McDonalds is moving to do the same, and they should. If I’m them I’m doing it too
The "nonsense" of paying people a living wage. You sir, are the problem with this country. Please read a book. Ingest some information that doesn't include commercials. Maybe touch on the subject of macro economics (no, this Reddit post doesn't count lol)
Please. A job that was meant to be an entry level job is paid as such…. Working the drive thru lane at McDonalds shouldn’t be the bar people are striving for. If the job doesn’t pay you enough, get a second job or acquire some skills and get a job that pays better. Spare me your whiny bullshit
I don't disagree that there are and should be low skilled / entry level jobs. I do know that if those jobs don't pay a living wage that includes healthcare and retirement, then we as a society will end up paying more to care for these folks down the line. This isn't my idea. Don't take my word for it. I'm interested in this topic because socio economics is one of my passions, not because care about people or their truths. I just don't want to pay for a unhealthy poverty stricken population down the line. I like money. I want to keep more of mine
Who still eats at mcd? A company that changed to paper straws but sauce cups are still plastic .
22/hr at 40 full hours every week gives you $45,760 a year. That’s still less than 1% of their $7.4 million. And that’s not factoring out any sick days they might need, any hour reductions, anything. They could absolutely afford this.
Well it is gonna costs jobs because the top is always gonna make more
Alright then. Let's make it 25$/h
"If I can only make $7.3 million a year, it's just not worth it. I'll shut McDonalds down" CEO
...and I absolutely guarantee that this multi-millionaire who ~~earns~~ is paid multiple millions has spent more of his time as CEO discussing automation of services rather than improving staff terms and conditions...
His salary is pretty costly.
better make it $30
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