It’s not right or fair!

 

I always seem to be bitching about one thing or another.  I should audition for” Grumpy Old Men!”

When you are on a good thing stick to it, so why stop now – right?

Is it just me, or do some people get paid/earn way too much?

 

A few weeks ago, I read an article where the world’s number one female tennis player, Iga Swiatwek, complained about their demanding schedule, saying,

“I’ve been kind of an advocate in saying that we shouldn’t… I don’t know… be pushing and pushing for us to play more.”

 

Hello – It’s your job!

 

By the way, you get paid very handsomely for it. As of August 2024, she had earned $31.5 million in prize money alone.

It made me think that there is something fundamentally and ethically wrong with the world when people are getting paid huge salaries for a job they love and are still unhappy.

If it’s too hot in the kitchen, get out and cook somewhere else!

 

I was then intrigued to see how much the top athletes, singers, business CEOs, and politicians get paid.

I was disgusted!

 

Being a top athlete is such a drag!

Cristiano Ronaldo, the soccer player now with Al Nassr, is the highest-paid sportsman. He earned an estimated $260 million over the last 12 months, making him the highest-paid athlete in the world for the fourth time in his career.  Ronaldo earned another $60 million off the field from an endorsement portfolio that includes Nike, Binance and Herbalife, among others.

 

The world’s 50 highest-paid athletes collected an estimated $3.88 billion over the last 12 months, up 13% from last year’s record mark of $3.44 billion.

According to reports, most (78%) of this money comes from on-field payments, the other 24% from endorsements, appearances, licensing and memorabilia income, and other business endeavours, for which they do very little.

 

The top five athletes make over 100 million, and the top 50 over $45 million.

You probably say yes, but they must train, watch their diet, travel, and work on the weekends.

 

So what?

 

It is hardly as if they rough it.  Train drivers, the humble shop assistant, or any job you care to name has to be trained, undergo continuous education, and a lot of them work on the weekends.

 

 

It’s All Rock n Roll

My next category is entertainers.  These days you have to pay hundreds of dollars to see your favourite artist.  Yes, I know it costs a lot to put on extravagant stage shows, but let me tell you, they are not hurting one little bit.

The top-paid artist is Rihanna.  As of September 2024, her net worth is estimated to be $1.4 billion.  That is right, it is not a typo; that is a $billion for singing!

 

Second in line is Sir Paul McCartney, whose net worth is estimated to be $1.2 billion as of September 2024, and the third is my favourite of all time, Taylor Swift.  At the tender age of 34, whose net worth is estimated to be $1.1 billion.  She is estimated to earn $190 million /year.

 

Her current boyfriend Travis Kelce, who signed a four-year, $57.25 million extension in 2020 with the NFL team, the Kansa City Chiefs, pays him an annual average value of $14.3 million.

 

Together they make over $200 million a year.

 

I love a good live show, but something is wrong when people are starving and working two or three jobs to keep their families alive.

 

 

CEO’s And their modest salaries

We perhaps wrongly assume that the top CEOs are in the same league.

They are not starving by any stretch of the imagination but are far behind athletes and entertainers.

 

In the US, the  CEO’s median total compensation is $29.1 million.  The top CEO, Jon Winkelried of TPG Inc., collected just under $200 million in 2023.  Founded in 1992, TPG is “a leading global alternative asset manager with $224 billion in assets under management.

 

Second and not far off is the CEO of another major financial sector player, the Carlyle Group Inc., Harvey M. Schwartz, who collected $187 million in 2023.

CEOs are paid, on average, 200 times more than their average employees, whose salaries fall further behind every year.

 

The sad part is that when they send their companies into bankruptcy or financial disrepute, they bail out, usually with an equally attractive parachute, leaving the other employees without a job.

 

Not bad a lurk for failing!

 

Poor Politicians

You would think that if a CEO of a company gets $200 million a year, the president of the United States or any other country, for that matter, should get at least if not more than that.

Wrong!

 

The American president earns $400,000 annually. Granted, they have a very elaborate pension package, but we are talking hundreds of thousands compared to millions for sportspeople and entertainers.

 

As of August 2024, allowing for currency conversion rates, this was less than what Australian Prime Minister Anthony Albanese was making but more than what the Prime Ministers of New Zealand and Canada were making.

 

Salt of the Earth Jobs

As a final comparison, in this crazy world, people who dedicate their lives to helping and saving others—doctors and nurses—suffer badly.

We all assume that doctors, especially surgeons, are very wealthy. To the everyday person they are, but not to the rich and famous above.

 

An average doctor’s salary in the US is around $200,000/ annum. In Australia, it is AU$180,00 (USD$120,500), and in the UK £75,000 (USD98,000).

More specialized surgeons earn $441,000/ annum.  In Australia, it is AU$220,000 (USD$120,500), and in the UK £90,000 (USD98,000).

 

US registered nurses are paid, on average, $81,000 compared to Australia, where the average is $85-90,000 (USD 57-60,000) and the UK £35-40,00 (USD 45-52,000).

 

There is something ethically wrong with the whole process.  I do not care how good or famous someone is; they are not worth $200 million a year, especially when considering that they are doing something they love.

It just doesn’t seem right to me; what about you?

 

Till next time,

Calvin