Woozle: Woozle moved page Myths/raising the minimum wage would raise prices/weak counters to Myths/raising the minimum wage would raise prices/rejected without leaving a redirect

2015-07-24T18:10:33Z

Woozle moved page Myths/raising the minimum wage would raise prices/weak counters to Myths/raising the minimum wage would raise prices/rejected without leaving a redirect

Woozle: category

2015-07-24T18:09:46Z

Woozle: Created page with "An appealing counter-argument is that the CEO of McDonald's tripled his own salary without affecting prices. However, this isn't enough to even raise the price of a burger by..."

2015-07-24T18:04:33Z

Created page with "An appealing counter-argument is that the CEO of McDonald's tripled his own salary without affecting prices. However, this isn't enough to even raise the price of a burger by..."

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An appealing counter-argument is that the CEO of McDonald's tripled his own salary without affecting prices. However, this isn't enough to even raise the price of a burger by one cent given the absolutely enormous volume of business McDonald's conducts.

==Numbers==
* Current CEO Thompson's compensation was $4.08m in 2011 and $13.75m in 2013, an increase of $9.67m.<ref name=cbus />
* Former CEO Skinner's compensation was $8.75m in 2011 and $27.74m in 2013 (he retired in June of that year), an increase of $18.99m.<ref name=cbus />
* McDonald's "serves 68 million customers each day"<ref name=wp-mcd-cust />. We'll take this to mean that this is how many sales are completed per day, since individual customers are not tracked. This comes to a total of ~25b sales per year.
* If taken equally from each sale, Thompson's raise would cost about $0.0004 per sale and Skinner's raise about $0.00076 per sale.

===Comparison===
To give an idea of how employee pay-raises at McDonald's correlate with top-level pay raises:
* As of 2014, McDonald's has 420,000 employees<ref name=wp-mcd-emp />
* Thompson's pay raise would have given each employee a raise of $23/year.
* Skinner's pay raise would have given each employee a raise of $45/year.
==Footnotes==
<references>
<ref name=cbus>'''2013-04-12''' [http://www.chicagobusiness.com/article/20130412/NEWS07/130419935/mcdonalds-ceo-thompsons-pay-triples-to-13-75-million McDonald's CEO Thompson's pay triples to $13.75 million]</ref>
<ref name=wp-mcd-emp>Wikipedia: {{l/wp|McDonald's}}, citing [http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10510072-813-338640 Edgar], which seems to be paywalled</ref>
<ref name=wp-mcd-cust>Wikipedia: {{l/wp|McDonald's}}, citing [http://finance.yahoo.com/news/McDonald-Momentum-Delivers-prnews-2702110553.html?x=0 a dead Yahoo page] which also is not available on archive.org</ref>
</references>

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	An appealing counter-argument is that the CEO of McDonald's tripled his own salary without affecting prices. However, this isn't enough to even raise the price of a burger by one cent given the absolutely enormous volume of business McDonald's conducts.		An appealing counter-argument is that the CEO of McDonald's tripled his own salary without affecting prices. However, this isn't enough to even raise the price of a burger by one cent given the absolutely enormous volume of business McDonald's conducts.

← Older revision	Revision as of 18:10, 24 July 2015
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Myths/raising the minimum wage would raise prices/rejected - Revision history

Woozle: Woozle moved page Myths/raising the minimum wage would raise prices/weak counters to Myths/raising the minimum wage would raise prices/rejected without leaving a redirect

Woozle: category

Woozle: Created page with "An appealing counter-argument is that the CEO of McDonald's tripled his own salary without affecting prices. However, this isn't enough to even raise the price of a burger by..."