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The prevalent trend of lucrative lifestyles of CEOs and the fortunes they make has precipitated an acute crisis regarding income and social disparities between company presidents and the workforce. While proponents of increasing the salaries of chief executives point out their unique management and cognitive abilities, as well as the diligence that makes them superior to other employees, opponents of such an approach claim that there is an immense injustice towards workforce. While I acknowledge CEOs’ talents and hard work, I contend that this is largely an erroneous notion, due to the inequality and decline in productivity that may arise.
First and foremost, from a purely social standpoint, it triggers a wealth gap and immense inequality. When overpraising CEOs and gratifying them with exorbitant salaries, it fuels discontent both in the workplace and in society, remarkably reducing happiness and satisfaction rates, making people gravitate towards addictions and other disruptive patterns. Moreover, this massive wealth disparity damages social cohesion and feels unjust, because some individuals, even working hard, cannot afford basic needs or provide for their families. This is especially true for immigrants, who one way or another cannot get through the glass ceiling and make it to a CEO position. Thus, if financial inequity becomes tougher, it might provoke disruptive consequences both at work and in the country. In the best case, workers may strike, sometimes affecting corporate productivity for months; in the worst case, it may even result in revolution.
In addition to the social matter, another concern is related to basic ethics and employees’ motivation. As the success of a company is a matter of collective effort, not only the management genius of the CEO, it is rather more fair to reward workers with proper remunerations than only the company director. Furthermore, research conducted by psychologists has unveiled the correlation between workers receiving low salaries and them experiencing mental health diseases. No wonder employees can be dejected at the wage discrepancy, as earning significantly less, even being highly qualified and having a proper education, offends human dignity and self-esteem. Hence, being dissatisfied with an enormous salary gap, workers are unwilling to perform their job at their best and more prone to have depressions that affect the company’s performance as a whole.
In conclusion, despite the potential merits, I firmly oppose the notion of raising salaries for chief executives that are already exorbitant. The negative impacts on an individual’s motivation, as well as the overall corporation’s efficiency, and one’s mental stability and dignity far outweigh any conceivable benefits.