06-30-2023, 09:57 AM
I always find the term "living wage" to be such an oxymoron when discussing wages paid especially in the food service industry when you consider:
How did the "system" work in 1970 - when a Big Mac cost 65 cents, French Fries were 26 cents and a Coke was 15 cents.
The "burger slingers" were paid $1.95 per hour.
The money is there to pay the average worker a fair "livable wage"- just went into the wrong pockets!
- Based on 2022 data provided so far for S&P 500 companies, according to AI-driven SEC data company MyLogIQ, McDonald’s CEO Chris Kempczinski made 1,224 times more than the median compensation of his workers. The pay for workers was $14,521, while Kempczinski made $17,770,514
- As CEO and Former President, of Burger King at RESTAURANT BRANDS INTL LP, Jose Cil made $13,968,788 in total compensation. Of this total $920,577 was received as a salary, $2,262,134 was received as a bonus, $0 was received in stock options, $10,769,665 was awarded as stock and $16,412 came from other types of compensation. This information is according to proxy statements filed for the 2021 fiscal year.
- NOTE: Burger King, Popeyes and Tim Hortons are all owned by Restaurant Brands International, with Cil as CEO of all three companies
How did the "system" work in 1970 - when a Big Mac cost 65 cents, French Fries were 26 cents and a Coke was 15 cents.
The "burger slingers" were paid $1.95 per hour.
The money is there to pay the average worker a fair "livable wage"- just went into the wrong pockets!