Are CEO′s Paid Too Much? – ARGUING THAT CEOS ARE NOT PAID TOO

BEGIN WITH AN OUTLINE (or see your proposal)! When you are planning to write a critical essay (an essay where you are judging the merits of a position or argument), it is useful to organize what you want to say and the best way to say it, in an outline. The outline functions as your pattern for writing the paper. This is why I had you write the PROPOSAL first.

When writing a critical paper, remember these 3 THINGS: Argument, objection, and rebuttal.

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The following is an explanation for creating an outline for the critical essay. I have provided a sample text to illustrate the sort of thing I want. Your final paper will be 2500-3000 words long. It will be properly formatted according to APA and it will be well-reasoned, critical, and substantiated according by proper referencing of all factual and theoretical support. You should include major theories and primary resources as well as credible scholarly journals and articles as secondary research for your paper.

A university-level scholarly paper should have a number of resources on the reference page (but only put them on the reference page if they are actually used in the paper-no padding the reference page!). You should cite all sources of ideas, stats and theories, including old classics like Mill and Kant. Cite the source directly (i.e. don’t quote Mill and cite my class when you can access Mill’s work directly and find it). Use secondary sources too and other articles written on your topic. It’s ok to use the odd news article but be sure the bulk of your research comes from scholarly articles.

Example of critical style: Let’s say that I decide to consider the morality of the following case summarized from an article by Lon L. Fuller: (And you may want to include a scenario to set up the ethical dilemma you will discuss in your paper)

Five explorers became trapped in a cave. With little provisions, it became clear that if they were not rescued soon, all would die. As rescue attempts continued, a number of rescue workers were killed (10). After 20 days without success knowing that several more days of digging were ahead before rescue—using a two-way radio—the men asked experts outside of the cave if it seemed likely that they could live for another 10 days in their present situation and the answer was “no.” The men devised a plan to kill and consume one of the five men. They decided to roll dice to decide the man to be eaten. Even though it was the trapped explorer, Whetmore, who devised the plan, upon rolling the dice he decided they should wait a bit longer. The other men decided to roll and roll for Whetmore too. He did not object. They rolled and Whetmore lost. They killed

SEE ATTACHED FOR THE PROPOSAL I WROTE**** BELOW

Are CEO's Paid Too Much?

OUTLINE
This report explores the issue of the pay that top executives make, and the
reasons why they do. It also suggests improvements that can be made to
make the system better. High Pay Seems Small When Compared To
Company Profits Many companies pull in profits that are extremely high.
When an employee of such a companies salary is compared to the amount
of profit that the company earns, it starts to seem reasonable. It only makes
sense that if the employee is directly responsible for the success of their
company, then they deserve to get their payback. It seems ironic, but many
salaries even look small once compared with a companies profits. Top
Executives Are Under A Lot Of Pressure Being the CEO of a company is not
an easy job. There is all kinds of pressure for a person in such a position to
succeed. If they do not, then it is their job on the line. Therefore, they
deserve to receive a large sum of money for the work that they do. It is the
only way to compensate these employees for the tremendous strain that
their job puts on them. It is essential that the employees get paid the
amount of money that they deserve. Pay Should Reflect Performance When
CEOs are being given big paychecks, they are expected to perform at a high
level. There success is impeccable. However, this does not always happen.
There should be some way of connecting pay to job performance. The best
way of doing this would be to award bonuses to those workers who are at
the top of their class. This would not only motivate workers to do a good
job, but also reward the employees that do succeed.
TOP EXECUTIVES DESERVE THE MONEY THAT THEY MAKE
INTRODUCTION

It is a well-known fact that many people holding high positions in
companies make an exorbitant amount of money. Some, however, say that
they do not deserve the amount that they are paid. They feel that for the
amount of work that is done by these executives, their paycheck is simply
too high. Also, they believe that these high paid workers often do a
mediocre job, while still managing to reap the benefits of being an
executive. While these are viable arguments against this issue, the other
side of the spectrum shows that this is not so. There is an equal amount of
evidence, if not more, that suggests that executives earn every penny of
their paychecks. The CEOs of companies are under an extraordinary amount
of pressure. They face the task of making sure that a company pulls in a
profit, or possibly losing their job. There are few, if any other positions that
put an employee in this situation. Important decisions are made by them
everyday, many of which decide whether a company will prosper, or go
under. Many of these men had to work their way to the top. They usually
have extensive business backgrounds, and know their field well. There are
very few people qualified, or knowledgeable enough to perform well in
executive positions. That makes the ones that are, a hot commodity. Thus
allowing them to demand the high pay that they earn.
High Pay Seems Small When Compared To Company Profits
When the public sees a salary that they consider to be too big; they are
usually looking at only half of the picture. It is impossible to look at just the
salary, without taking any other factors into consideration. One must look
at the amount of earnings, compared to the profits of the company. For
instance, Robert Allen, who runs ATT, was recently pointed out by 60
Minutes as being an overpaid executive. Their major problem was that he
had been responsible for laying off 40,000 employees, while still managing
to give himself a large pay increase. At first glance, this situation may

appear to be one involving a greedy and overpaid executive. However, upon
closer examination, it proves to be much to the contrary. The situation
wherein the 40,000 employees were laid off was not a matter of getting rid
of people for an unfounded reason. It was more a matter of getting rid of an
excessively large work force, and getting the same job done with fewer
people. This not only benefited ATT, but also, the customers receiving
service from ATT. "For exactly the same service in 1996, the average family
will be paying $11 less." This is due to the fact that the consumer's money
was not going to a larger number of employees, but going directly to the
minimal cost of performing the job. Robert Allen has a total salary of 20
million dollars. This salary seems to be extremely high when put as a
statistic by itself. This changes, though, when you compare it to the total
earning of ATT. His salary calculates to be 1/3,450 of ATT's gross. All of the
sudden, the 20 million dollars does not seem like such a high figure after all.
Another factor that serves to make his salary a valid amount, is that even if
his total pay was split between all of the laid off workers, they would only
receive about $500, not much more than a weeks pay. When all of the cards
are on the table, a salary of 20 million dollar starts to look quite reasonable.
Top Executives Are Under A Lot Of Pressure
Most jobs are clear-cut. A person has a designated task to perform, and the
method of performing this task is clearly laid out. If all directions are
followed, then there is not too much that can go wrong. This, unfortunately,
is not the situation for top executives in companies. They are in the tough
position of making decisions that may affect the whole company. With one
bad move, they can bring a multi-million dollar business under. On the
same level, though, that can bring in an infinite amount of profit by making
a good move. All executives realize this, and this puts an superfluous
amount of pressure on them. Most people could not handle this on a day in,
day out basis. It would eventually catch up to them. Seeing that one person

is given so much power, what guarantee is there that they will do a good
job? There is none. That is why there has to be a large amount of money
involved. If a person did a job such as this, and received a small amount of
pay, then there would not be much incentive for them to do a good job.
They could always find another job, with a similar amount of pay, that did
not put them under the stress that executive jobs put them under. Once an
immense salary comes into play, then that gives a person reason to thrive in
such an industry. When a person has a goal such as this, it tends to elevate
their performance to a higher level. This means a company succeeds, and
pulls in a profit. It seems that whenever money becomes a factor, a much
greater importance is put on things, and a much smaller margin of error is
tolerated. The top executives are the ones who are affected by this, and it is
they who are rewarded, or punished depending on the outcome of their
company. US Executives Paid Three Times More Than Other Countries For A
Reason US executives receive a substantially larger pay than their
worldwide colleagues. One report on earnings showed that "US CEOs were
earning 3.2 times more than their British counterparts." This is a
tremendous difference, when one considers that these people are doing the
same job. This contrast in salaries leads one to ask the question: Why do
Americans earn so much more? The quality of work is not an issue. There
are many quite successful businessmen in Britain, as there are in America. It
is not a question of talent, because if a person can be successful in one field
or situation, then they will most likely be able to cross it over into another
area. In other words, if a businessman is able to be successful in Britain,
then they will presumably be able to succeed in America. The reason why
Americans are paid more is really quite simple. America does things on a
much larger scale than other countries. This does not only concern salaries,
but just about all other fields as well. The problem is not finding qualified
people that will work for lower wages. However, it is more an issue of
companies realizing the magnitude of the job being done, and rewarding
the employee with an amount of money that they deserve. This is an

acknowledgment by businesses that CEOs of companies should be getting
the pay that they get. If a company in America wanted to, they could easily
hire an executive from another country at a lower rate. In fact, many
workers from other countries are hired. However, when this happens, it is
not a decision designed to save money. It is a decision that is meant only to
bring in quality workers. The new employees are usually started off with an
"American" level of pay. It is the company, not the worker who is
responsible for high wages. This negates the idea that quality workers
cannot be found at a reasonable rate. It is the company’s decision of the to
pick pay rates that are high, rather than a result of worker demands. If
people in the industry decided that executives were not worth the money
that they earn, it is up to them to lower their pay.
Pay Should Reflect Performance
Now that is has been established that CEOs deserve their paychecks, it is
time to examine problems with the system. It is not perfect, but for that
matter, neither is anything else. One major setback is the fact that most
wages are not representative of the productivity of that employee. Whether
a worker is a model employee who is very prolific, or a poor worker who is
unproductive, they still are given the same treatment by a companies far as
pay is concerned. This can lead to a business losing vast amounts of money,
while the CEO fills his pockets with money. For example, Varity Corporation
was a business that was once one of Canada's biggest and highest profiting
companies. However, it struggled greatly during the eighties, and lost
money most years. That did not stop its chairman Victor Rice from earning
"more than $1-million in annual compensation." This is clearly an abuse of
power. If an employee is allowed to continuously do a poor job, while still
benefiting from his job, then there is little reason for them to attempt and
do a good job. In the case of Victor Rice, there was obviously no correlation
between the quality of his work, and the pay that he received. If he did such

a bad job though, then how come he still had a job. This answer to this is
one that affects many businesses. Many times it actually costs a company
more to get rid of an unwanted employee, than it would to keep them on as
a worker. "When Paul Stern stepped down as CEO of Northern Telecom last
year, he left with $164,112 for two months of employment, a cash
compensation package totaling $6 million and another $1.5 million in stock
options." The reason for this is that many times, when a position such as
CEO comes into play, a contract is written up. That means that the worker is
supposed to be with the company for a certain amount of time. If this time
period is cut short, then that is a breach of their contract. By law, they must
be compensated for their removal from the company. This may cause a
business to hold onto an employee that is unwanted, because it is such a
hassle to get rid of them. One solution is to make a direct connection
between the amount of money that a person is paid, and the quality of work
that the person does. This would not only put pressure on that individual to
do a good job, but it would also give them incentive to produce more. The
best possible way to implement this would be to start people off with a low
base salary, and award large bonuses for any goals that they meet. Right
now, there are many hard working employees. They appear to be putting
their full effort into their job. However, it is amazing to see how much more
can be done when monetary awards are on the line. It may mean the
difference between an employee staying focused on his job and making his
business successful, rather than an employee slipping a little bit and forcing
his company to lose money. This technique of linking pay to performance is
practiced often in countries such as Germany, but is discouraged in place
such as America and Japan. This is definitely a policy that should be
considered in countries across the world.
CONCLUSIONS AND RECOMMENDATIONS
It has been established that top executives do make a lot of money. It has

also been established that they deserve the money that they receive is well
deserved. These employees are making important decisions every day. They
are under a tremendous amount of pressure to succeed. It is their job to
make sure that large corporations turn a profit and move towards financial
success. Their jobs are arguably some of the most important in the world.
This certainly allows them to be presented with such large salaries. There
are a few steps, however, that can be taken to regulate the salaries that are
executives are paid. This is necessary because only the select workers that
do their job on a superior level deserve the high amount of money that they
get.
1. Give employees a base salary, and award bonuses on top of that for any
profitable work done by that employee. This would not only give them a
reason to
bring their work up to a premium level, but also create a distinction
between
those employees who are successful, and the ones who are not. This would
also
serve as a way to weed out those employees who can't cut it.
2. In order to guarantee that workers are paid based on performance, there
needs to
be more legislature passed to put restrictions on method of salary payment.
Right now, Clinton gives a tax break for the companies that pay their
employees
based on how they do their job, but even those who do not are able to find
ways,
through the use of accountants, to get such tax breaks. There must be
stricter
laws in place, with no loopholes.

3. The world on a whole, should agree on a standard level of pay for
executives. It
is not fair that people in countries other than the US, receive 1/3 of the pay,
for doing the same job. This would help to give the executives around the
globe,
the amount that they should be getting.
4. It should be easier for a corporation to get rid of an unwanted employee.
Right
now, many are tied into contracts that require a large sum of money be paid
if
the employee is released early. There needs to be escape clauses if that
employee performs lower than expectations. This will keep only the best
employees running businesses, meaning that these companies will be more
successful.
If all of these ideas are implemented, then the world of high paid executives
will surely run smoothly, without controversy and dispute concerning
amount of pay.
BIBLIOGRAPHY
1. "Rich-Baiting Time," National Review, 62 May 5, 1996
2. "Random Numbers," MacLean’s, 42 May 9, 1994
3. "Giving Capitalism An Obscene Reputation," National Review, 35 May 9,
1994
4. "On The Right," Economist, 62 June 3,1995

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