Most bosses have a higher salary than their staff. But there are exceptions to the rule.
In sportsFor example, a star player often make more money than their coach. And in film industry, A-list actor bring home a higher salary than the director.
So when does it make sense for one Employees earn more money than their boss? When they are offering a specialized and highly valuable skill set, write My colleague Natalie McCormick. That includes Kansas City Chiefs quarterback Patrick Mahomes, who earns about $20 million more per year than coach Andy Reid. And it’s also included Nick O’Kaneformer commodities director of Australian bank Macquarie, who earned about $28 million more than CEOs over a period of two years.
But not in all cases messy compensation need to include staggering amounts of money. in technology worldstaff with High professional skills often earn more money than their boss. And sales stars who work on commission will often receive a higher salary than their manager after a successful year. Temporary employees can also be an exception to the rule – for example, an engineer brought in to fix a security breach will often be well compensated for their efforts. And in some cases, employees receive higher salaries than direct managers thanks to successful salary negotiations.
Sure, things can get complicated when a worker makes more money than their boss. Some managers may find it strange that their employees make more money than them, and employees may start to feel that they are immune to the rules that everyone else has to follow. But bosses shouldn’t close themselves off to the idea of employees earning more than them, says Ron Seifert, a senior client partner at the executive recruiting firm Korn Ferrytell Luck.
“I would say that a thoughtful and effective leader would look at that and be completely satisfied with someone’s outstanding performance, give them an outsized reward because it benefits the organization,” he said. “That over time makes the leader look smarter when someone performs so well.”
You can read more about the higher case Here is the employee salary.
Azure Gilman
[email protected]
Today’s edition is curated by Emma Burleigh.
Around the table
Summary of the most important HR titles.
Some employers believe that investing in art for the office will help attract workers back to in-person work and attract a wealthy clientele. Financial Times
Following a recent upbeat jobs report, Goldman Sachs believes a recession is less likely than previously predicted. Business insiders
Several workers went missing when Hurricane Helene swept through a plastics factory in Tennessee, and their families want answers as to why they weren’t adequately protected. AP
Water cooler
Everything you need to know from Luck.
Golden ticket. Goldman Sachs analyst jobs can be among the company’s most competitive out there—more than 300,000 people apply each year, but less than 1% make the cut. —Luisa Beltran
New normal. Hybrid workers increasingly eat out on Thursdays and Sundays—while the restaurateurs are pleased, bosses say these outings contribute to the somber days away. —Ryan Hogg
Gain position. Black and Latina women are driving the growth of U.S. labor unionsfight to close discriminatory gaps in pay and working conditions for women and people of color. —Claire Savage, AP
This is the web version of CHRO Daily, a newsletter focused on helping HR executives navigate the demands of the workplace. Register to have it delivered to your inbox for free.
