Quote:
Originally Posted by MindBomber
Doctors make life and death decisions daily, arguably work in an occupation that requires a higher skill set than a CEO, have a much more extensive education than anyone working in business is required, are in extremely high demand all over the world, also work long hours and are always on call; given that, one would think that a doctor should be entitled to equal or greater pay than a CEO.
Yes, a CEO has a demanding job that requires a significant set of skills, but in comparison to other highly skilled occupations they are still earning far to much.
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I respectfully disagree. I have an uncle who is an emergency room surgeon and two that are CEOs (one heads an American multinational that I am sure most of you will recognize). This is what I think. Life and death decisions while important, is a different kind of decision than the important decisions CEOs need to make. Their not comparable. Theoretically going by that logic, if we as a society determine that the highest pay goes to those that save lives, how much should paramedics make then? Firefighters? scientists designing cancer drugs? arguably, doctors would be at the top of this hierarchy as they have specialized knowledge and ability, but where do you draw the line? You also have to remember these are paid by taxpayers as opposed to private capital. Usually, CEO salaries are inflated by stock value (like how Steve Jobs made $1 in salary). These stock options can be sold on the markets to other people who are willing to give them their money. Besides, doctors, especially specialist and surgeons can make quite a bit in the US (comparable to many CEOs who only make a couple thousand).
Studying to be a doctor has almost no risk, whereas in business its ALL about risk. Doctors can safely assume they would get a job, even banks guarantee loans if your a med student. You pretty much know how much you would make from the start, so if a doctor isn't happy with his pay, he shouldn't have got into the profession. Going into business does not guarantee you success (just like a degree doesn't automatically give you a job), nor does climbing the corporate ladder guarantee you the CEO position. There is only one such position in every company, just think of all the competition and politics involved. Not all doctors are cut out for this, just because your book smart does not make you a successful businessman. Doctors are more like technicians if you think about it, they do the same thing over and over (much like a pilot) whereas a CEO needs to be more dynamic (strategic plans look 10+ years down the road, how do you look into the future?). If you've ever met a CEO in your life, I think you'll realize in a 5minute talk why they are where they are at.
Private companies are owned by shareholders. Do they not have the right to choose who they want to be their CEOs? and how much they want to reward them? CEOs are answerable to shareholders, if they suck, you can damn well bet they will be REPLACED. Imagine if this was your company, why does an outsider get to determine how much you want to pay your top management? If people want more jobs, we need more entrepreneurs to CREATE them. We need more people to step up in society who have balls instead of the whiners who think that they deserve a job.