Who's Too Big to Fail? We Are!
Cross-posted at She Negotiates
What does this man have that you don't?
A year-end 2009 salary of $21,340,547 during one of the worst year's in the history of his industry ~ banking.
Listen! The recession is just another excuse for not paying you what you're worth.
How do we know?
Because the most effective negotiators on the planet ~ corporate CEO's ~ are finding the downturn to be the best time to squeeze every last living dollar out of their employers.
If they can do it, so can you!
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Whhaaaaaatttttt? do these men have that you don't have?
- Social networks with rich and powerful people who sit on their Boards of Directors and influence policy makers and Wall Street power brokers
- The self-created illusion that they are "too big to fail" /1
- The persuasive argument that only they, with their unique combination of experience, education, knowledge, savvy, can-do-spirit, and leadership qualities can pull these banks out of the sinkhole of the recession.
- Friends in very high places.
- Chutzpah and shamelessness (not that we'd want to encourage this second character flaw in our readers).
- Self-satisfaction.
- Entitlement.
- An employment history of asking for and receiving increasing levels of compensation based upon their salary negotiations at every career point possible (and every career point impossible)
- the demonstrated ability to produce results (our readers do possess this strength but haven't used it to their greatest advantage yet)
- the tendency to measure their market value by their value in the hands of their employer, not by what they "need" or what they are "worth" according to some internal metric that depends upon how they feel about thier accomplishments.
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1/ This is where collective action comes in. When we aggregate together America's employees, small business owners and homeowners, we get a non-corporate "entity" that is waaaayyyyyy bigger than some little piss-ant bank and it is we who are too big to fail.
Comments (1)
Read through and enter the discussion by using the form at the endJoe Markowitz - September 15, 2010 4:23 PM
I am not defending these salaries, but 2009 was actually one of the best years in the history of banking, from the point of view of bank profitability and share prices. That was in part because in 2009 banks had a major rebound from 2008, which was one of the worst years in the history of banking.