McDonald's CEO Steve Easterbrook gets a 368% pay raise

[NAC4EV]

The McDonald’s CEO got his salary super-sized.
The fast food chain’s chief executive, Steve Easterbrook, brought home a whopping $7.91 million last year — a 368% raise over his 2014 salary of $1.69 million —while low-wage McDonald’s workers are striking around the country for a livable income.
Easterbrook’s raise came after he was promoted from chief brand officer to the burger joint’s CEO on March 1, 2015.

http://www.nydailynews.com/news/national/mcdonald-ceo-368-pay-raise-article-1.2603689


He also enjoyed the use of the company’s corporate aircraft, an allowance for a company car, free financial planning services and other unspecified personal items totaling $224,235, according to company filings.

 

[Homerboy]

Wait -- he got a promotion and with it a raise.

Easterbrook’s raise came after he was promoted from chief brand officer to the burger joint’s CEO on March 1, 2015.

It's not like he was CEO for years and just gave himself a 368% raise.

 

[thesmokingman]

Even so, this never plays out well. Bad time to cash in his raise when there's all this striking going on.

 

[JulesMaximus]

Wonder how many raises they could have given employees with that money.

Things like this just disgust me.

 

[NAC4EV]

It's not like he was CEO for years and just gave himself a 368% raise.

That will come later.

 

[JSt0rm]

clearly he is worth 8 million. Thats only 2 million big macs.

 

[Miramonti]

How else is the Board going to get a raise?

 

[stlc8tr]

MCD stock has done pretty well in the past year.

 

[thesmokingman]

clearly he is worth 8 million. Thats only 2 million big macs.

They should pay him in big macs!

 

[Sonikku]

Nudging minimum wage would increase the cost of the Big Mac! But this? nah. :hmm:

 

[Genx87]

Wonder how many raises they could have given employees with that money.

Things like this just disgust me.

You understand somebody like Matt Lauer makes 4 times more than this guy? How many people does Matt Lauer employ? Celebrities are paid through the nose. Rarely do people complain about it. Please be the first and change my perception.

 

[Homerboy]

MCD stock has done pretty well in the past year.

Up over $35+ in the past 12 months. 33%+
Not bad work.

 

[blankslate]

You NOOBS...

Now that the CEO has a 300+ percent pay raise McDonalds will create 3 times more jobs than they would have otherwise in the near future...

dumb socialists.


_____________

 

[zerocool84]

No different than any other CEO of a major companies that does extremely well. Hell, Volkswagen was giving their board members raises even with the Dieselgate.

 

[master_shake_]

all the employees have to do is wait for the wealth to trickle down.

 

[Homerboy]

No different than any other CEO of a major companies that does extremely well. Hell, Volkswagen was giving their board members raises even with the Dieselgate.

See, to me, THAT makes no sense.
Their stock has dropped 50% in the past 12 months. The CEO should be penalized.

As the article is written, it seems he was working as the CEO "cheaply" for the past year at $1.7M and now he's been given the proper salary for his position.

 

[dave_the_nerd]

Wonder how many raises they could have given employees with that money.

Things like this just disgust me.

Not big - like $4-5 per employee total.

And most of those employees are employed by franchisees, not McD's Corp itself.

 

[Homerboy]

Not big - like $4-5 per employee total.

And most of those employees are employed by franchisees, not McD's Corp itself.

McDs employs 420,000 employees worldwide... so what is that? $15 or so an employee?

 

[Elixer]

You understand somebody like Matt Lauer makes 4 times more than this guy? How many people does Matt Lauer employ? Celebrities are paid through the nose. Rarely do people complain about it. Please be the first and change my perception.

Don't you dare interject some logic here, it don't fit with their agenda.

Why not cap all the athletes / celebrities / "news" anchors pay to be the same as the ball boys / camera man / interns? That is only fair!

 

[Kelvrick]

Not big - like $4-5 per employee total.

And most of those employees are employed by franchisees, not McD's Corp itself.

If you made him work for free and spread it out to the 400k mcd's corporate employees, they'd all get a massive $20/year raise.

 

[Jaepheth]

Wonder how many raises they could have given employees with that money.

Things like this just disgust me.

Lets run the numbers.

Wikipedia says they employ 420,000 (Probably not including the line workers who probably are employed by the individual franchise owner(s), not McDonalds proper)

~$6.3 million / 420,000 = $15 per employee per year.

Assume a part time schedule of 30 hours a week for 50 weeks of the year then you get a 1500 hour work year.
$15 / 1500 = $0.01 per hour per employee raise.

Increase the number of hours or employees in the formula and that number drops even more. If you include all the cashiers and burger flippers then you're looking at a fractional cent per hour raise.

 

[tynopik]

a 'whopping' $7.9 million?

That actually seems rather low for running such a large multinational

Meanwhile Kaepernick is going to be paid over $12 million to sit on the bench . . .

 

[Red Squirrel]

Yeah this whole capitalist thing makes me sick. There is zero redistribution of wealth. In fact he probably laid off people to get that bonus. Typical thing that seems to happen all too much now at all companies.

I would not be able to live with myself if I made that much money and had employees living on poverty. But I guess it takes a cold hearted person to be a CEO these days. You don't make decisions based on your heart, but based on money, and nothing but that.

 

[LTC8K6]

Could have installed quite a few self order machines with that money.

 

[Homerboy]

Could have installed quite a few self order machines with that money.

/end thread