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COO Wage
Posted: Fri Sep 12, 2014 11:10 pm
by jondonnis
So I have my COO who's been in the company for 18 years and is now being mega greedy and is getting $293million a year salary. Yet I can only pay myself $100k. How does that work out? Yes I own over half the company but how comes he can command a high wage and I'm relegated to a small pay cheque? I'm aware this is normally related to the company profits? Or is it something else?
Re: COO Wage
Posted: Sat Sep 13, 2014 12:37 am
by WilliamMGary
jondonnis wrote:So I have my COO who's been in the company for 18 years and is now being mega greedy and is getting $293million a year salary. Yet I can only pay myself $100k. How does that work out? Yes I own over half the company but how comes he can command a high wage and I'm relegated to a small pay cheque? I'm aware this is normally related to the company profits? Or is it something else?
Its related to the company profits. If your profits has declined since he was granted that outrageous salary you can fire and hopefully rehire him at a lower rate. To best determine if he is being overpaid look to hire someone else for COO and see what they request.