02-08-2012, 04:23 PM
This article peaked my interest.
I understand that companies want "the best talent," but it pretty clear that "good enough" talent (except in extraordinary circumstances) is as good as any other in the top spot. I also understand that the board members who hire CEOs are, in many cases, CEOs themselves of other companies, and don't want to set precedent. But, it would be nice if some of the bigger companies just said, "We're going to hire someone great, and pay that person $500K per year, with bonuses for phenomenal work." For the right companies, they'd still get great talent and maybe some of these outlandish salaries would drop.
/rant
I understand that companies want "the best talent," but it pretty clear that "good enough" talent (except in extraordinary circumstances) is as good as any other in the top spot. I also understand that the board members who hire CEOs are, in many cases, CEOs themselves of other companies, and don't want to set precedent. But, it would be nice if some of the bigger companies just said, "We're going to hire someone great, and pay that person $500K per year, with bonuses for phenomenal work." For the right companies, they'd still get great talent and maybe some of these outlandish salaries would drop.
/rant