Chinese Computer Company CEO Gives His 3 Million Dollar Bonus To Workers

[bri]

http://finance.yahoo.com/news/chinese-computer-ceo-restore-faith-203000640.html



A CEO of a Chinese company received a 3 million dollar bonus and gave it all away to 10,000 lower ranking employees. Of course, he received about 11 million dollars besides this in salary, stock and benefits. Still, you'd never see one of the greedy CEOs here do something like that. They'd be too busy trying to figure out how to get out of paying any tax on it. Nice to see someone think of the little guy.

 

[sth]

Yeah that would most definitely not happen here. American CEO's are massively overpaid, even when they do awful jobs. It is over the top how much some of those CEO's of failing banks still get here.

 

[mikita's helmet]

Fuckin' Commie!

 

[BigPete]

Companies in the US typically participate in profit sharing activities via retirement investment programs, small awards for performance, tuition reimbursement, and holiday office parties. It may not seem like the same thing as this example but it is pretty close in spirit.

 

[roshinaya]

But is it really necessary for someone already raking in millions in salary to on top of that get several millions in bonuses?

 

[bri]

But is it really necessary for someone already raking in millions in salary to on top of that get several millions in bonuses?

In my opinion, NO, but I am not a greedy person and have always been taught to share.

 

[sth]

In my opinion, NO, but I am not a greedy person and have always been taught to share.

I love the argument some in the business community use to justify it. "If we didn't offer them bonuses they would jump ship to our competitors." Then why do they get the bonuses in years that they do a horrible job? Was the CEO of Citi Bank at risk of jumping ship when they needed a government bailout? I'm taking my shitty talents elsewhere unless I get my bonus. I really don't think CEO's deserve to be paid 40 times what their workers get. Are they honestly 40 times better?

 

[Pez68]

I love the argument some in the business community use to justify it. "If we didn't offer them bonuses they would jump ship to our competitors." Then why do they get the bonuses in years that they do a horrible job? Was the CEO of Citi Bank at risk of jumping ship when they needed a government bailout? I'm taking my shitty talents elsewhere unless I get my bonus. I really don't think CEO's deserve to be paid 40 times what their workers get. Are they honestly 40 times better?

Most of the time they're worse, to be honest.

Companies in the US typically participate in profit sharing activities via retirement investment programs, small awards for performance, tuition reimbursement, and holiday office parties. It may not seem like the same thing as this example but it is pretty close in spirit.

No, not really. All of that shit is probably some kind of write off. What would a $300 dollar bonus translate to between China and the US? You are also assuming this Chinese company doesn't do any of that.... Have you ever heard of a CEO giving away HIS money to his employees here in the US? I fucking haven't. This country is ruled by greed. Period. These incompetent assholes make millions of dollars a year while laying off workers to keep their profit margins looking good, or to keep from going into the red. All while their execs rake in millions of dollars. It's fucking absurd.

 

[Tater]

No, not really. All of that shit is probably some kind of write off. What would a $300 dollar bonus translate to between China and the US? You are also assuming this Chinese company doesn't do any of that.... Have you ever heard of a CEO giving away HIS money to his employees here in the US? I fucking haven't. This country is ruled by greed. Period. These incompetent assholes make millions of dollars a year while laying off workers to keep their profit margins looking good, or to keep from going into the red. All while their execs rake in millions of dollars. It's fucking absurd.

As a recruiter, I talk to people all day about their salary packages. A few get none, but most go from a few thousand up to 20k+.

Northwestern University does not pay bonuses for example. I don't get a bonus either, but I'm on commission.

$300 is not realistic IMHO.

THere's also profit sharing, insurance, 401k's, vacation time, sick days, tuition reimbursement....



Edit: I have no idea if they have any of this in China.

 

[winos5]

Bonuses and competitive pay/salary are the norm in my career field.



Hell my wife is an LVN. Took 18 months of junior college to do the pre-reqs and finish. She got a $1500 signing bonus at her first job. I've heard the Air Force is currently giving my profession 10-20K annual retention/incentive bonuses to keep their personnel after years of early retirement and voluntary separation programs. And thats ontop of @ 1K/month professional medical pay bonuses. Why you ask? They have to keep pace with civilian salaries or everyone will bolt for the door at the 1st opportunity, like I did 12 years ago.

 

[BigPete]

Most of the time they're worse, to be honest.

No, not really. All of that shit is probably some kind of write off. What would a $300 dollar bonus translate to between China and the US? You are also assuming this Chinese company doesn't do any of that.... Have you ever heard of a CEO giving away HIS money to his employees here in the US? I fucking haven't. This country is ruled by greed. Period. These incompetent assholes make millions of dollars a year while laying off workers to keep their profit margins looking good, or to keep from going into the red. All while their execs rake in millions of dollars. It's fucking absurd.

Speaking from experience in the government defense contracting business, many of our contracts the last decade had Contract Performance Bonuses built in. That money could be taken by the CEO, the owner/investors, or dispersed so as to pay for overhead, staff bonuses at the end of the year, tuition reimbursement for personal or job related training, parties, etc. I have been a recipient of every kind of bonus in that sense. Year end bonuses, holiday parties, several $100 gift cards, tuition reimbursement, etc. If we were a managed services contract and not a cost plus contract (with bonuses) I guarentee we would not have had those things. Our company is not massive (~1,500 people) and we while we have been making some great revenue (~$550 mill/year) once everyone gets paid, there is not a lot left over. The performance bonus money built into the contract was critical to the ability to pay bonuses to the employees.



There is no such thing as 'writing off the expense', the money has to come from somewhere. It is either from profits or something like our contract performance bonus.