Nice try. That also speaks to Apple's superior management practices in hiring practices. And also in determining compensation and raises as a function of many dynamic variables including the state of the economy and competitive market pressures at any point in time. I do realize folks like you will go out of their way to justify minimizing the fact that Apple is one of the best managed and most successful tech companies in the world.
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Apple Retail Employees Getting Smaller Raises of Approximately 4% in 2023
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Nice try. That also speaks to Apple's superior management practices in hiring practices. And also in determining compensation and raises as a function of many dynamic variables including the state of the economy and competitive market pressures at any point in time. I do realize folks like you will go out of their way to justify minimizing the fact that Apple is one of the best managed and most successful tech companies in the world.
How much is not too much ?
and this raise is permanent, this is not like bonus.
How many employees would be ready to take a pay cut when a business starts loosing money ?
Excellent post! Thank you for pointing out that Reaganomics is to blame for most things like this.
Although Reagan is no longer in office, every president after him had an economic policy that was some variation of Reaganomics.
As it's been said before, you get what you pay for... If you want to have garbage employees, pay them garbage wages.
Apple's retail employees are receiving raises between two and five percent this year, which is a smaller pay increase than Apple provided during the pandemic, reports Bloomberg. Annual raises are at about four percent on average, with the increases applying to retail employees and AppleCare technical support employees.
Raises are provided alongside employee reviews, which are done in the fall. Last year, Apple was offering bigger raises of eight to 10 percent to combat labor shortages and employee unionization efforts, but as Bloomberg notes, unionization campaigns have not gained traction and wage growth in the United States is down.
Most of Apple's retail employees in the United States earn now $22 to $30 per hour, and are given restricted stock units valued at up to $2,000 annually.
Article Link: Apple Retail Employees Getting Smaller Raises of Approximately 4% in 2023
Thanks for all your hard work in making us money suckers!!!
or
Thanks for all your hard work in making us money, suckers!!!
🤔
I guess in Apple's case, both would be accurate. 🤣
Thanks for the clarification. So it’s not even mandated that corporate boards operate like sociopaths, it’s the preferred behavior in big business.Fiduciary duty is neither a law nor is it required that companies maximize profits for shareholders.
Corporations Don't Have to Maximize Profits - NYTimes.com
www.nytimes.com
Yay, an already overpriced device is just not even more overpriced device. Lucky Lucky Lucky.
c.f. Fiduciary Duty to Shareholders and the civil liability potentially resulting from breach thereof.What is this law that requires for-profit companies to prioritize their financial health? I've never heard of such a law.
... which not technically a "law", as such, breaching such duty potentially exposes the officers of a company to substantial financial penalties should those holding sufficient shares band together to sue them.
now if the board / company makes statements as to their goals/directions being other than profits / shareholder value there's much less basis for such a suit. you'll see this with a variety of companies.
all that said, anyone who believes Apple is anything but a profit-maximizing megacorp has let the marketing people fool them.
That was literally the interpretation in law until an SEC rule change under Reagan changed it.
That’s a fact. 40 years of financial sector propaganda can result in result in “logic” like what you’ve posted doesn’t change that it was (and still is*structurally*) plain manipulation of the stock price.
Peanut pay for the peasants that will always work for big corps, no matter what.
In 2022 Iger's annual base salary was $3M. His bonus was paid out as $4.4M and he received $7.1M in equity awards. That's $17.5M not $27M + bonus. This is based on Disney's 2023 proxy statement. Anyone saying he was entitled to $27M is rounding $26.5M to $27M and then not factoring in his target bonus was $12M but paid as $4.4M.
Underpaying your workers means they buy less **** and travel less which is better for the environment. You guys just aren't brave enough to recognize the courage.
well idk if everyone at apple retails deserves to make 62k because that wouldn't make sense depending on where one lives. NOW, I will say tat 4% it pennies compared to the 4.00 raise they got back in 2013. Also consider the hassle that apple employees don't make ANY commission. on any product. some of those folks sell well over 100k worth of product. some even sell 1 million dollars of product. they also aren't tapping on an iPad. you've worked there so you know what devices they use. The fact that you know MORE than an apple employee is of no consequence. What kind of expectation is that? nobody knows everything, not even YOU. I will add that apple has become much like most generic retail places though.
lol. I actually provide you with the mechanics of what it is with the associated logic and you basically just say “no it’s stock manipulation”. Willful ignorance. There were lots of things that used to be legal that should plainly be illegal and vice versa. That’s a terrible argument.
Those same employees are in the back repairing $10000 computers. FOH
I’ve worked for a Fortune 500 company for 13 years, other than years that I got a promotion our average max raise was 2%.
For profit companies are legally required to create shareholder value. This is usually understood as more net income every quarter. A very few companies differ depending on who their shareholders are and what they expect…
It's interesting (and sad) to see the number of posts which talk about wages without reference to the market value for the services provided.
This is why shareholders should sue Boards of Directors who adopt ESG or stakeholder capitalism values for breach of their legal, fiduciary duties to shareholders.
To the folks trippin, I wish I worked in a beautiful retail store doing much of nothing and baking $30 an hour. Y’all trippin. They could easily shut the store down and save that money tbh.
I had a significant promotion recently and only got an 8% raise. I have a comfortable salary but am in academia so let's just say the pay isn't wonderful considering how much education it took to get here -- yes, I realize I made poor life choices.
A 4% raise is fair, in my opinion.
You’re wrong. He earns $100M million a year with those options added in. Look it up.
You can explain football to me, while I question why we’re not playing basketball instead. Bestowing the virtues of football means nothing if we *need* to play basketball.
Just having reasoning for something, doesn’t mean that thing should be done or allowed in the first place. Those mechanics, as understood to be price manipulation, were illegal before 1982, no?
Did you even read what I wrote? Apparently not. $3m + $12m + $85m = $100m.
100m =\= “Hundreds of millions.”