There is no international market in British management talent

As we\’ve been told by the Work Foundation, the High Pay Commission, Polly and the rest. There is no international market in British management talent. Thus it matters not that high management in other countries are paid lots. We must cut management salaries here in the UK so that we are all more equal.

New York Times CEO Mark Thompson stands to make $6m in 2013

Thompson to get a six-fold salary increase from his position as director-general of the BBC, according to a regulatory filing

Oh….

Much more money for running a much smaller organisation. Ho hum.

8 thoughts on “There is no international market in British management talent”

  1. Of course the other way of looking at this is that the state (or quasi-state like the BBC) is a hugely efficient organisation that is able to secure the services of top executives for a sixth of their market rate.

  2. I wouldn’t mind so much about the looting propensity of these bastards if they agreed to be swung if they failed. Pirates’ wages, pirates’ penalties, that’s wot I say.

  3. Isn’t it funny that this global competition thing depresses the wages of the workers but increases the wages of the managers?

  4. Shinsei’s nearly right. It’s not so much because the BBC is state-run, but because it is so prestigious, that it can offer lower salaries. Running the Beeb is one of the top media jobs around the globe, and so they don’t have to swing a huge pay packet under anyone’s nose: having “DG, BBC” on the CV means the ex-DG can get the shekels in spades when he moves on. As Thompson has demonstrated very clearly.

  5. The real point here is that Thompson is going to get a fat sack of cash for running a failing newspaper for a year or two. Good for him. Maybe Sulzberger should look at his balance sheets once in a while.

  6. Philip Walker does have a point. Back where I used to live, where broadcast media people were thick as flies on dog shit, hardly the one hadn’t worked for the Beeb, was working for the Beeb or intended working for the Beeb. With it’s size, the BBC is like a black hole at the centre of the industry. Everything orbits around it.

  7. Partly repeating what others have said, but there seems little demand for our capitalist captains of industry, but some demand for our statist bureaucrats. So no evidence at all that the usual suspects should have a pay rise. Who knows what we should conclude from this – pay rises doe the BBC and sack every banker earning over £100,000?

  8. What DearieMe said.

    I’m all for massive wages, but based on success only. In my business, failure is rewarded by nothing – or bankruptcy.

    Let’s have a control experiment. One year during which all CEOs of companies and public sector orgs are financially responsible up and down. Grow the business, make a bonus. Shrink or fail, lose your salary/bonus and savings.

    Let’s see how many of these stellar talents are prepared to give it a go*

    * unlike owners of their own businesses who already live by those terms.

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