Why Does * Make So Much Money·
Posted By: Dr. Frugal in Frugality on 09/22/2007 at 21:18:37
I don't think professional athletes are overpaid. Blasphemy, I know--especially coming from a family of underpaid teachers. That said, I think teachers are grossly, GROSSLY, GROSSLY underpaid. Anyway, think of the top level of any organization--the best of the best make millions of dollars.
The top financial analysts, the CEOs of major companies, whatever--the absolute top bracket makes tons of money. Why· Because when you're in charge of a lot of money, either directly or indirectly, you need to make a lot of money to maintain your loyalty to the company. Would you work as the manager for...even your local McDonalds, knowing the restaurant was making $3000 a day and you were getting $80 of it· Of course not. You'd want your cut and if it wasn't coming in the form of a salary, you'd find some other way to ensure it would (at worst) or, knowing the amount of responsibility you have, would find work elsewhere where you'd make more money.
The difference between say, baseball players and stock brokers is that you can play baseball. You know all the ins and outs and you could play. You probably don't know as much about playing the markets (well, you might) and since you don't understand it you find it more reasonable that the top people make more money. It's as simple as that.
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