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Top Management Pay and Options

In: Management Risk

Author

Listed:
  • Dimitris N. Chorafas

Abstract

J.P. Morgan, probably the greatest banker of the twentieth century, thought that the ratio between the CEO’s pay and that of the lowest-paid employee in the firm should be 20 : 1. Dr. Peter F. Drucker, one of the fathers of modern management, has repeatedly warned that the growing pay gap between CEOs and workers can threaten the very credibility of management. In the mid-1980s, Drucker said that no industrial leader should earn more than twenty times the company’s lowest-paid employee because if the CEO took too large a share of the rewards, then this would make a mockery of the contributions of all the other employees.

Suggested Citation

  • Dimitris N. Chorafas, 2004. "Top Management Pay and Options," Palgrave Macmillan Books, in: Management Risk, chapter 5, pages 78-94, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-4810-6_5
    DOI: 10.1057/9781403948106_5
    as

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