Saturday, 13 June 2009

Astronomical Pay

How would you like a job offer somewhat like this

- guaranteed 5 year contract – you cannot be sacked

- first year wages $ 15.5 m, or $ 43000 every day

- automatic wage increases every year so that the fifth year wages is tripled at $ 48m. That’s a pay hike of 25% per year

- all these wages are irrespective of performance. Doesn’t matter at all how you perform

- you really have to work only 100 days in a year. The real work is only for 90 minutes in those days – but add and subtract getting ready for work, maybe 4 hours

- you are allowed to make money on the side. And the money you make on the side is going to be a multiple of your wages. So much so, that your wages is actually small change. That’s why its called wages; not salary !

- your cost to your company is $ 60m a year

- the government is very kindly helping you out by having a special tax rate of 25% to give you an incentive to come

- your employer is supposed to be a “non profit social trust”

And there is a not a pipsqueak in public outrage. No moralizing on fat cat parasites in the midst of the toiling masses. No sermon from pompous politicians. No “Pay Czar” to examine this package.

Welcome Cristiano Ronaldo to Real Madrid.


A journey called Life said...

if only i learnt to play football (or should i say soccer and exhibit my ignorance of sport on the www)..if only, if only..

Ramesh said...

........You'll have to change your name to A journey called football ......

Hang said...

It does sound crazy! Real Madrid is rich!

le embrouille blogueur said...

Well ... the banks have been quick in repaying the cash ... to get rid of the "control" ... victim:eligible buyers who cannot get any loans .... be or not to be ??

Ramesh said...

@Hang - Real madrid is rich only because its shamelessly supported by the government. How it can be a "non profit social trust" completely beats me.

@blogueuer - yes, that's one of the reasons why banks are rushing to repay the assistance under TARP, but I don't think they have any chance of going back to the old regime on pay.

rads said...

lol yea I've read about this guy...its a real cool life he's got..never wud have worried about ny kind of bills n debts...I wish my hubby was a futbal player too...

Adesh Sidhu said...

There is outrage in Spain as economy is in slump and people do not have jobs and Government official is inking multi million deals with footballers.

This is ridiculous amount but Real Madrid is expected to make $500 mn in next 10 years.

Sanjay said...

I do not see anything wrong in a good sports person getting such a pay. Sports requires dedication, commitment and hours of practice. How many of us take vows to shed extra kilos, give up smoking and throw the towel even before the battle starts. Today with the help of technology, it is possible to expose the weakness of another sportsmen. Therefore every great player has to constantly invent and re-invent their skills to be at the top of thier game. Examples Roger Federer and our own Sachin Tendulkar.

Ramesh said...

Really Sanjay ? - that sort of money even if you are the best in the business ? No link to performance, guaranteed money, and above all, no moral outrage from the hordes who whine about every dollar paid in business ?

Sanjay said...

I think it is one the negatives of capitalism. Because power and money is concentrated in few people, they can get away with this.

However I would stick to the point because today Shah Rukh Khan(famous Indian Actor) earns few crores for a movie irrespective whether he performs well or not. And we pay hundreds of rupees from our pocket to go and see him.

Mukesh (Reliance) spends crores of rupees to build the most expensive house in India and perhaps in the world.

These are just few examples that we can quote and see.

Ramesh said...

@ Sanjay - Ummm, I see where you are coming from. Yes some people do earn lots of money but somehow I cannot reconcile to a base salary of Rs 70 cr and a 25% guaranteed increase every year withouth a pipsqueak from anybody.

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