Yes, my heart bleeds for the ultra-rich. Another great example is the former CEO of Bank of Montreal, Matthew Barrett, who retired in early 1999. He received a paltry $20-million compensation payout after 37 years at Bank of Montreal — the last 10 of them as CEO. In 2007, his successor Tony Comper retired from Bank of Montreal with stock options, shares and share units worth a mere $80-million, or four times larger than Mr. Barrett's holdings.
On the other hand, my sister has worked for the same bank for 31 years and makes a whopping $19.71/hour as a part time lender. For this priviledge, she gets to deal with people who scream, swear and threaten her when she can't approve a loan or mortgage due to their credit being in the sewers. In addition to this astronomical pay, she has to meet these specific targets, or MOP's, each and every week, with it all being tallied up at the end of the year. The priviledge for doing so, is she gets to keep her job. The failure to do so, will cost her her job. Here's the rub: If she meets her targets, or exceeds them, then clearly she can do more for the bank and so they increase her MOP's each and every year until the person cracks under the pressure. If you exceed your target, they give you a bonus in the form of a $50.00 gift certificate to some place like Home Depot. As you can see, this sort of bonus far exceeds the piddling amounts that the CEO's of the bank make and my sister should be ashamed of herself for being so damn greedy.
