Karma is a removed!
Target’s CEO pay ratio now stands at 753 to 1, with median employee pay at $27,090.
I found the problem!
So every single day this guy makes TWO YEARS of wages for his median worker. Every year on the job, he makes over a DOZEN LIFETIMES of wages for the median worker at his company.
Seeing the hundreds-to-one ratio shows that there’s a big difference, sure, but mapping that to the time comparison really puts it into perspective. Kind of like how a million seconds is 11 days and a billion seconds is 31 god damned years.
It’s never going to be a surprise that the head of a company gets paid more than the other employees, but let’s not pretend that their ridiculous compensation is “what I earned” versus “what I could get away with.”
Yeesh, you’re exactly right that this is the right way to think about it and thank you for pointing it out that way. Absolutely disgusting, I can’t believe we all allow this. I’m pretty fuckin good at math and those timescales and numbers are just not intuitive, I’m always surprised with figures like these, even though I’ve seen em before. If people knew, really knew this stuff, I have to believe it would change.
Anyone “earning” like this while the people (and their families) propping up these fiefdoms sacrifice and struggle the way they’re forced to - anyone doing so is de facto amoral. I’d go so far as to say deserving immediate death, no further evidence needed.
But maybe that’s the 4 beers my old ass had tonight making me feel spicy, lol.
Oh no! His salary was slashed 50% to only $9M?!?!? How does the poor dear survive?
Most of us survive on less than 1% of that. Yay! We’re One Percenters!
Target’s CEO pay ratio now stands at 753 to 1
That oughta teach him!
Oof
Oh no, only a few hundred million a year instead of all the millions a year? Devastating
Guarantee this prick is furious over this, don’t worry. Like, probably even more upset than you or I would be for getting fired unfairly. These people have their entire identity and ego wrapped up in this stuff, their brains are broken.
He can only buy one yacht and winter home in Aspen this year. How sad.
He still “earned” 753x more than the median Target salary. Crushing, I am sure. How will he ever survive?
I saw CEO and chopped in one sentence and I thought the guillotines have finally come out. It’s a good start, I guess.
Wait until they see a guillotine rolling up the street
I personally prefer to buy my guillotines from Costco rather than target.
I prefer public caning so everyone can get a whack.
Go woke or go broke.
Go fash lose cash.
Cornell, who has led the Minneapolis-based retail chain since 2014, received $9.9 million in total compensation for 2024, an 87% drop from his 2020 peak of $77.5 million.
What the actual fuck? Why are humans being paid $10m A YEAR, let alone over $75m?!
I love breaking down these huge salaries into 2 week chunks because I think it brings the disparity into perspective more for people since most of us get paid 2x a month.
For $75 million that is a twice a week paycheck (I know CEOs don’t get paid this way) of $3,125,000!
That’s the total of 1000 employees 2 week paychecks if they all made ~ $40 an hour
$75,000,000 ÷ 26 = $2,884,614
$2.8 million every 2 weeks, not $3.125 million twice a week.
The reality is bad enough without exaggeration.
They tried to do twice a month and got their wires crossed.
That is exactly what I did. I’m not a maths person. So maybe me trying to do math in a internet comment section wasn’t the best decision.
What it must be like to be able to retire after your onboarding seminar.
When you put it that way, that’s fucking insane. $2 million in retirement plus having my house paid off has always been my retirement goal. Granted, by the time I reach that goal, inflation and the cost of living will probably make that not enough.
Still, to think this asshat makes that in less than 2 weeks is fucking ridiculous. Like why even work at that point? I realize “work” for a CEO is mostly golfing and expensive dinners, but still…
wait, where in the world is it common to get paid twice a month? we got rid of that in like the 70s…
US based here. My wife gets paid on the 15th and last day of the month (28,29,30, or 31st). So she could have anywhere from 9-12 working days each check. I am paid every other week.
For a second I was like “what month ends on the 29th???”
And then I realized you were being so specific as to include leap years one day.
strange. as far as i understand it we got rid of it because more frequent paychecks can make people subconsciously less likely to put money into savings, sort of how like living next to a supermarket makes some people cook less. it’s not a law, but the unions pushed for it until it became the standard.
Hint: if it’s a thing that unions push for, don’t be surprised if it doesn’t exist in the U.S.
It’s not a coincidence at all, this place absolutely hates empowered workers.
I’ve never had a job that paid semimonthly, but almost every job I’ve ever had was bi-weekly.
I had a job that paid 2x/month 20 years ago. I think the one before that did the same, but… That was a long time ago and I’m not sure if I remember
wait, what does semimonthly mean? like, not every month?
The English language is scuffed; due to misunderstandings we end up with seemingly opposite words now being used interchangeably to mean the same thing:
- flammable and inflammable, now both usually mean something can be set alight.
- biannual and semiannual, both mean twice a year and once every two years - which is even more confusing.
It’s at the point where if you can’t derive the intended definition from context, you need to ask for clarification! 🤦🏻♂️
In this context, I’m pretty sure the commenter was referring to twice-a-month payment. Here in Australia we would call that fortnightly (once every two weeks), where we end up with a scenario where twice a year we end up with 3 payments (for a total of 26 a year). This tends to be more common for hourly wages roles.
It’s been a hot minute since I was paid like that, as corporate salaried positions now tend to be monthly - in order to keep things simple for the HR and Finance teams, and honestly helps people like me to learn/maintain better fiscal responsibility and budgeting.
biannual and semiannual, both mean twice a year and once every two years - which is even more confusing.
No! Bad! Do not encourage this! Like biweekly, biannually is every two years.
I’m not encouraging it, it’s actually one of my biggest pet peeves!
I can understand why given how rarely they’re used, people get confused between semi-annual and biannual - especially since things happening every ~6 months is a more common occurrence than every ~24.
In a world where possible/impossible is simple to understand, why is flammable/inflammable confusing!?
Don’t even get me started on “literally” - I want to bang my head against my desk every time I hear it misused.
why then separate it from biweekly?
Biweekly is fortnightly. Every two weeks. I.e. Every other Thursday.
Semi-monthly would be twice a month, i.e. the 1st and the 15th.
26 biweekly paychecks in a year…24 semimonthly paychecks in a year.
JasonDJ did a good job at explaining the what, the why would be down to cost-cutting. There are fixed costs associated with putting out payroll (beyond man hours required, there are processing fees etc.); so opting for 2/month instead of fortnightly saves you ~10% in fixed costs.
I get paid every 2 weeks, so slightly more often than twice a month. The twice a year “extra” paychecks go straight into savings because they’re not part of my monthly budget. It’s a government job in the USA.
My last job paid 1st and 15th . And the company i own now does the same.
I find budgeting much simpler than with a bi-weekly paycheck.
Who is “we”?
most of europe i assumed, but now that i’ve said it i realise i have no data.
We get paid daily
Honestly I get paid once a month but I know some of my friends have 2 paydays a month so it’s still out there in the wild
i have only ever heard of one place that paid biweekly, and that was a completely analog firm run by some religious nut. they stopped doing it in like 2002 and everyone who worked there complained.
Conversely, I have never worked anywhere that paid bimonthly and only ever at places that paid biweekly, although a friend of mine did some years ago so… looks like there’s different payment schedules in different places—astounding.
I will say every single place i’ve worked has not paid enough to live in the modern era so at least that seems to be a consistent through-line.
Still not enough. As someone who frequently shopped at Target, I doubt I’ll ever go back.
The only bit of the title I can fully get behind is this:
Target CEO.
Target CEO 🎯🎯Greedy pricks like this should live in fear.
I’m not sure that there’s any aspect about this news that’s truly “uplifting”.
Not even the slightest uplifting.
Stock holders and owners are probably dictating these changes. Not the CEO alone.
It’s not uplifting. Almost nothing in this c is.
It’s mostly “here’s some bad stuff happening to someone I don’t like” so it’s a bunch of schadenfreude.
It’s a stretch, but you could say it’s uplifting that other retail CEOs can see this and learn from it
It was dictated when his pay package was approved by the board. Since they haven’t shitcanned him they must not be too disappointed or not willing to pay for his exit package.
I closed my target account when they pulled this crap. Shopping Costco and thrifting only now. No walmart, no amazon either.
Amazon has sucked for at least a decade. It was a solid base idea. But they don’t give a fuck about the consumer.
Target was one of few department stores I actually felt okay about. They hadn’t done anything particularly terrible, even what scandals I did find seemed to have nuance to them. Then they decided to wage war on minorities - sorry, “DEI”, and I called them to specifically say I’d never shop there again.
I didn’t bother to state “unless”, but I’d be okay with returning to them if they turn out to fire the people responsible for the move.
seriously; it was a phenomenal misreading of their demographic. do they not realise how much lesbians love to shop at target?? i haven’t been in once anymore since then.
a phenomenal misreading of their demographic
There was a recent yt vid about how much data they have about their customers, including that one story from years ago about how their data showed that one of their customers was pregnant so they sent her coupons for maternity stuff-- turned out it was a teen who hadn’t told her parents and it blew up. Misreading their customer base with so much data was a fuckup of epic proportions.
https://www.youtube.com/watch?v=lPVSj9rcK-E
edit: looks like this already got linked earlier in this thread
Same for our family. To be clear I saw their “inclusivity” for what it was, but I’ll still reward that over its absence, because I want to see more of it in the world regardless of motivation. My wife was all in, the stereotypical Target-loving mom who liked them a LOT and would visit sometimes just to kill time between other things.
But she has principles, so she hasn’t shopped there since all this stuff, and we won’t be going back.
Folks, give your money to Costco! There’s no ethical consumption under capitalism, yes, but Costco has been a standout in the industry just for how they treat their employees, for a long time now, probably decades by this point. And they read the room wisely (or just actually mean it, but probably not) and vocally retained DEI efforts.
Straight guy here who worked at Target for 8 years. Used to stop by every week, haven’t been back since. It’s not just the anti LGBT stuff. It’s the fact they were pro DEI and LGBT and then went back on their stance. They have zero integrity. They bend their knees to terrorists. If they had just not sold pride stuff the entire time I probably wouldn’t have cared.
meanwhile costco traffic doubled :)
