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L.A. council backs $30 minimum wage for hotels, despite warnings from tourism industry
(www.latimes.com)
this post was submitted on 16 May 2025
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Even with the total compensation you aren’t giving employees more than pennies.
To be clear that $5m was total compensation in my example. They would get just over $3 if it was just his 1.5 million salary.
https://www1.salary.com/MARRIOTT-INTL-INC-Executive-Salaries.html
$5 million is his cash income.
I'm not trying to argue that it would mean anything to not pay him. I just wanted to express my frustration that CEOs are actively rewarded and lauded for making decisions like stock buybacks when the actual backbone of the industry are looked at as drains on society because they require things like SNAP or rent assistance just to survive.
I mentioned 2022. You are talking about 2024. There are likely incentives and bonuses that account for that gap (beyond the effects of COVID which would impact 2022).
Regardless I agree overall that the workers should be paid more.
Ya that’s the point they get paid 25% their total compensation in wages. They make 75% of it on the stock, which goes up when they squeeze labor. It’s misaligned incentives.