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What The Market Will Bear
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What's sending CEO pay soaring again? Quality of work? Not so much. It's more about competition, namely that what you make is dependent on what other CEOs make. It's like pro sports: If one CEO gets $2 million, the other CEOs all say THEY want $2 million, just like if one wide receiver gets a big contract, so does the rest of the league's wide receivers, and they all have metrics to show that they're just as good or better than that guy. So one company's overpaying mistake is everyone's. (Washington Post)
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