Gap between CEO and worker compensation expanded in 2021
Crain’s Cleveland Business: Bernard Bailey, an adjunct professor at Weatherhead School of Management, discussed the pay gap between CEOs and their employees at the largest public companies in Northeast Ohio, noting the ratios used to highlight the differences in pay is often a pointless exercise. “If you pay less for your CEO, you’re going to have a hard time getting a good one. And if you pay more, you can attract a quality person,” he said. “If you don’t want to pay what the market demands for CEOs, then you will get crappy CEOs running your company.”