A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
Our Goals
Found on imgur https://imgur.io/gallery/gqItf8e
To save people from having to squint at the small text; top chart is measured in seconds, bottom chart is measured in days.
Hero!
Thanks. I didn't even bother, knowing that would frustrate me
This infographic has a very big and obvious flaw: wages are not the only cost of a company.
If a company covers its wages costs in 1 day it doesn't mean that it's pocketing the remaining 363.
Instead of revenue, they should use wages+profit. This way we can see which companies take what part of the generated value for themselves.
Even profit is manipulated and funnelled back into "growth".
And we can pretty much double the numbers by what it actually costs to employ someone vs. what they are paid.
Want nice things like healthcare and other benefits, worker's comp, unemployment insurance and the like?
Worked at a small payroll firm for 5-years. I was the IT manager, so not like I'm an expert, but I had a lot of questions and worked closely with payroll and accounting. Very eye opening.
If you get paid $15/hr., you probably cost the company $26-29/hr. And we had small clients like churches, restaurants, convenience stores, thrift shops, places paying shit wages and shit benefits. I make ~$80K with stunning benefits, so I figure my company's actual cost to keep my ass in the seat is maybe $200K?
Revenue? Profit? EBITDA? Without a definition for what "make" means, this is useless, and verges on propaganda.
Says right at the top of the chart. The 3 data points are 2022 revenue, revenue per second, and average salary.
My fault for not being able to read teeny tiny gray text on a white background, I guess.
Anyway, comparing revenue to worker compensation isn't really very useful. Payroll comes out of that revenue, as does every other cost of doing business. Compare payroll to profit, or to executive compensation, if you want to make a point. Yeah, worker compensation sucks, but just comparing it to "the biggest number we could find" doesn't mean anything.
Also these numbers are going to be higher for bigger operations.
I checked for Walmart. It is revenue.
It's revenue not profit but anyway...
Fun fact from this is The Home Depot receives revenue of an average worker's salary in roughly 3 bars of "The Home Depot Song"
I don't think it says profit anywhere? It says 2022 revenue in the legend for the companies, and the annual personal salary is revenue too because it needs to be spent on living expenses.
Conflating "to make money" with "revenue" instead of profit is the iffy part for me... I apologize for not being clear about that.
At the risk of entering pedant territory, the idea of "making" the money is by doing something that would cause a person to pay more than before. If acquiring the "before" and the act of adding value incur costs, then to me, the "money made" is the revenue less those costs.
That's fine? Payroll is an expense, it does come out of revenue. Profit is what's left over after they pay everyone else.
Please see my reply to the other commenter, my issue is with "making money" being conflated with revenue.
I tried this for Twitter and got a divide by zero error.
Look at all those healthcare companies. Fifty years ago, such a list might have a Big Pharma company, but no patient care portals at all (hospitals, pharmacies, etc). Now they dominate the whole list.
And it's also worth noting that several of these are also huge players in the opioid crisis, including the four who settled to avoid state lawsuits that would have gutted them (looking at you Cencora, McKesson, Johnson&Johnson, and Cardinal Health).
Hey, maybe you would know… why are pharmacies/pharmacists being sued for the opioid crisis? I could understand suing pharmacies back in the day when pharmacists were able to dispense meds without a Dr’s Rx, but when Congress stripped pharmacists of basically all power except strictly following a written script in the early 80s as part of the war on drugs, it seems like modern pharmacies have two options with an opioid Rx. Do their jobs and fill it, or do their jobs and don’t fill it. And the filling it job seems like the more responsible choice. I am a lawyer and I really don’t understand the theory of recovery and I enjoy talking about it more than reading up on it. Is it just that the pharmacies have deep pockets?
The average pharmacy is not in any danger here at all, and unless a specific pharmacist is personally involved in illegal dispensing, they're not in any danger here either, as far as I know. So if you know of specific pharmacists or non-franchise pharmacies caught up in this, you would have to look at the specifics of their individual infractions, or what the feds claim there is.
The problem is the huge chains, and to a much smaller extent their pharmacists. What the various DEA investigations found out is that in the states where the opioid crisis was/is the worst, the corruption went all the way up the supply chain. The actual prescription is just the first stop, but after that you have chains like CVS that were receiving literally truckloads of nothing but opioids at their regional supply houses, fully aware of their part in the whole thing but they were making MASSIVE coin, so why stop the gravy train?
You're right, individual pharmacists have to fill a script they are given unless they have cause to believe it's fraudulent in some way, but again, the problem wasn't truly at the pharmacist level, it was from the top down. So any pharmacist who recognized that 20 scripts a day (or whatever number) from the same pain doc, day after day, was out of the norm and reported it to management was simply told to keep filling it regardless. And this went on regardless of how extreme the problem became, to the point that some individual pharmacies were distributing almost no prescriptions other than opioids.
Incidentally, this is how McKesson (a drug maker) ended up afoul of the feds: they knew exactly how much oxy and hydro they were shipping, to whom, and were all too well aware that the majority of that had to be to fill scripts that were less than legitimately gotten. By the time it got to state lawsuits the states had everything they needed to prove that it had been going on for years with McKesson's full knowledge and blessing. Same for the other defendants who settled: they would have been gutted, and the proof by that point was legally indefensible.
WaPo did a huge series on this whole thing two or three years ago that is well worth the read, if you're interested. Let me know and I'll dig up the links (I have spare gift links, don't worry about the paywall). This is the gift link to the main article about all the pieces they investigated: https://wapo.st/3MLJG43
The platonic ideal corporation would be an entity that has no employees, extracts rent from everything, has no expenses, produces no products, and pays no taxes.
This platonic ideal is a parasitic organization that serves no purpose, but we've structured our entire economy around the endless pursuit of it in all sectors.
The first source listed is the infographic's creator's website... Only a little sus. 😅🤷🏼♂️
So let me get this straight, is the infographic claiming that Walmart's revenue is 8 times more than Microsoft?
Edit: Nevermind, I thought it meant the average employee salary in the US. It's using the average salary per company.
No.
Original source (yes, it has more pixels):
https://llcattorney.com/business-info/us-companies-salaries-vs-revenue
My man!
would be more interesting to see how much more could those companies pay their employees if their profit was evenly distributed among them
Would need to make sure to exclude costs like executive "compensation", stock buy backs, or any other methods used to artificially decrease profits to avoid taxes.
Stock buybacks don't reduce profit for the company. They are not accounted as an expense that offsets income. Investors pay capital gains tax instead of income tax that they would pay on an equivalent dividend, which is probably what you are thinking of.
Net revenue, gross profit, operating income, EBITDA, and (net) profit are some well understood measures that take various things into account. E.g. net revenue subtracts the cost of inventory, but it doesn't subtract wages, so it's probably a good starting point for a discussion on redistributing earnings among workers.
Since most or even all of them are publicly traded companies it isn't that difficult to find out.
Walmart had a net income of 14 billion, they have roughly 2.1 million employees, that leaves each employee with an additional 6.6k for this year or roughly an additional 550 a month.
Doesn't sound a lot but that can be done without impacting any other business practices. And for some of the employees overseas that might be doubling their salaries.
$550 per month is a lot for those making the least. Also about $3.17/hr.
Considering a large portion of Walmart workers receive food stamps and other benefits due to low income, it would be a huge boost for those folks and lessen demand for assistance on local govts…but nah let’s keep all the money to pay for our drunk driving murder nights.
drunk driving murder nights.
Because many are not aware, one of Sam Walton's children is a notorious drunk that likes to drive and may have killed a few people (I am unclear how many.)
It really depends on how much it costs them to do business. Payroll is only a part of the cost to do business. Companies like Walmart have massive real estate holdings which likely take a significant chunk of their revenue to pay off.
Not to mention the small matter of cost of goods sold
i hate jpeg compression
Here you go, the original sauce: https://llcattorney.com/business-info/us-companies-salaries-vs-revenue
I'm having a hard time with the realities of this. How much time should a corporation take to earn the salary of the average employee? What percent of a company's yearly profits would be appropriate to be spent on salaries? Many of the companies are exceeding 1/12. Is that enough? If not, what is?
I know I'll probably be on the wrong side of things (again), but I didn't find this graphic stirring. Is there a number out there that people find acceptable?
Profits aren't spent on salaries. Salaries one of the things deducted from revenue to determine profits.
I seriously doubt that these are profits. These are revenue.
Even if we compare it to profits the time frame just switch to minutes. Walmart made a net profit after taxes of 14 billion. That translates to 26k per minute.