[Opinion] Executive salary

Large companies should pay higher salaries to CEOs and executives compared to other workers. To what extent do you agree or disagree?

It is believed that senior leaderships in corporations deserve higher monetary compensation than their subordinates. In my opinion, I strongly agree with the above notion due to the unique nature of their position.

It is undeniable that executives in a large organization require a far more special skillset than any other employees. To start, their responsibilities ensure the development of their company, as well as account for job securities of all workers. To fulfill these needs, a person needs exemplary leadership skills, incredible market foresight, as well as unprecedented problem-solving skills. Not only is mental prowess essential, but also dedication, since most CEOs have to work tirelessly, usually not on a fixed schedule, to ensure all problems are dealt with. This means that the position can only be filled with someone who’s also willing to put their organization first, and at times before their well being or their family. 

Another point which needs to be mentioned is the strenuous vetting process of said appointment. In terms of academic background, leaders of corporations such as JP Morgan Chase, Amazon, or even Apple, all come from Ivy League schools, which are top academic institutions catering to only a small percentage of our population. Not only that, executives are often picked from candidates who have served an extended senior managerial tenure in a well established corporation. The hiring of those who used to hold confidential information from rival companies can be indispensable in creating a monopolistic advantage to their new employers. As a result, companies willingly spend millions to chase after these important individuals. 

All in all, since these positions of power require a special candidate that not only have a distinctive skillset but also extraordinary background, I am of the opinion that their lucrative financial incentive is well deserved.  

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