Introduction
It is no doubt that in
today’s society, CEO’s are considered some of the most powerful men and women.
They are put in charge of running entire companies, where everyone is looking
to them for guidance and leadership. However, is their drive comprised of the
desire to be successful, or the big paychecks they get to take home at the end
of the year?
In an article written by
the Washington Post, it was found that in the 1950s the ration between CEO
compensation and that have an average worker was 20:1. This put the CEO well in
front of that of the average worker and led to the rise of many great
companies. Today that ratio has catapulted its way up to 200:1. Have the job
duties of CEO’s changed that much? Another article by the Post cited that some
CEO’s have saved companies (i.e. Steve Jobs of Apple, Lou Gerstner of IBM, and
Lee Iacocca of Chrysler). These men deserve to be rewarded for their extensive
efforts for their respective companies. Most CEO’s do not need to fill this
purpose though.
We know what part of our
society is saying, but what about our future society? As a majority of business
students took part in this study, some may eventually be working directly with
CEO’s. Still others may be that “average” worker in a company. How do college
students fell about what CEO’s are being paid? Is it even a current concern, or
are we still in the phase where we do not have to worry about things of this
nature? A survey of a small sample can give us a glimpse of the feelings
towards the question “Are CEO’s overpaid?”
Methods
Participants:
20 University of Iowa students participated in this survey. Most were business
students in the Henry B. Tippie College of Business. Most participants were
also college freshman.
Data
Sources: A survey was created using www.surveymonkey.com.
Procedures:
Participants
were given access to the survey through an embedded version on a blog and some
were also emailed the survey. Participants were required to answer every question
on the survey and they were also only allowed to submit one response. The
survey consisted of a series of 6 questions with the pre-determined responses
of: yes, no, maybe, and unsure. There was also one open ended question asking
participants what they thought good qualities of a CEO were.
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