“Noted banking analyst Mike Mayo warns State Street shareholders executive pay is too high”.
Really? You think? I know my salary is getting to be close to the new minimum wage the libs want to award kids in high school for their summer jobs too. Once again middle getting squeezed out of existence.
@ If your over 50yr its better to stay and endure the pain as long as you can.
I have many friends over the age of 50yr who were outsourced and after 1 to 2 years finally
found jobs, making 25% to 30% less.
And I too remember going 3 years without a raise and bonus as has many others.
Yet the big shots are still getting raises and bonuses that would equal the salary of least 10 workers
I just read the Mayo article. It was excellent. I know this has been said over & over, but I find it so frustrating that the executives get paid so much yet I (and many other quality workers on my team) have not had raises in 2-3 years. And our bonuses were small as well.
I am seriously looking outside SSC to further my career.
@YK8WFfS-krc Great article and I agree that anyone who works/worked at State Street should read it.
I would encourage ALL current and former employees of State Street to read mike Mayo's recent report on State Street's excessive executive compensation. If you can obtain a copy of his report than you can try CNBC's website since they had a wonderful feature story on this matter.
Mayo is one of Wall Street's top banking analysts. Not only does he expose State Street's excessive executive compensation he also calls out the company for a lack of concrete metrics for holding executives accountable for their decisions and for the lack of any consequences for the deplorable performance of the company's stock price.
Mayo focuses special attention on Jay Hooley who received well over $100 million during his time as CEO while presiding over almost a decade of value destruction as the head of the company.
So as you wonder whether you will be laid off and are working yourself to near exhaustion day after day you may want to see what the State Street executives are doing. Shameful!