shiprepairwoman
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No, you can get millions a year. If the company is making that much you would probably go public so no longer be public. Then your salary would be what the board of directors voted to pay you. You would own stock and get dividends if they paid any or the stock value could go up and have splits so you could sell some and still grow net worth. |
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YourLastBestFriend
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nope, look at the owners of the oil companies. |
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Venus
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Idk, but I guess if you pay yourself a lot your company will crash and burn.... |
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Jason K
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If I actually wanted to be successful, I'd pay myself the bare minimum. Live off as little as possible and reinvest everything I made. |
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*kwah*
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Yes I believe there should be. I wouldn't mind getting a salary equal to the amount of time and energy I use in promoting and enlarging the Corp. And possibly a percentage of the gross earnings, that sounds fair, doesn't it. After all I founded the corp and deserve top pay. |
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O.F.Z.
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yea it depends on whiether the biz is private or public, and it would have to within how much u make. also you would have to pay the employees the amout that their contracts state, ya know things along that line.... |
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John S.
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If it is privately held, you will have more freedom to pay yourself whatever the company can afford, particularly if it is just you and one or two other people comprising the entire Board of Directors.
If it is publicly held, you will have to answer to the shareholders who can try to move against you if you get too greedy. But you can always maintain the majority shares of stock and based on the rules set up for voting and control, you can maintain control and still pay yourself what you want.
With so much abuse going on with CEOs paying themselves outrageous salaries, look for more scrutiny in this regard going forward. The Democrats in particular have their eyes on this abuse and want to change it. |
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pat
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Well, this is what I think :
If it is publicly traded, the company has a Board of Directors, and they hire the CEO (not necessarily the Founder) and determine the salary. But then, I'm not sure how the Founder (if he is not the CEO) gets paid - maybe a portion of the profits.
If the company doesn't have a Board (private company), then the Founder (Owner) can pay himself whatever he wants. |
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Suz Hi R&S Regs
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i am CEO and owner of business if i want a good sale price in future i must give myself wage and put profits back in business so i have a healthy bottom line. |
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Bigdreamboy90
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The Company "Pays" the CEO of a co-orparation AS SAME AS THE OTHER WORKERS.
It would be quite unfair, if the salary was judged by the CEO, and actually I think the salary is divided and given to by the Financial department of the Company. . .
So the CEO doesn't actually make or limit the pay to him or herself. . .
ALSO, The CEO Works much harder than other workers because of its' higher being in the Company, as well as it gets the most highest Salary.
For Example, when the normal officer earns himself $450 a month, the Boss might earn a $1000. . .
Simple as that. . .
God Bless and Loves you ~
Pray dear~!
God Be with you~ |
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the_fire_dog
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If you have stock options setup for your company than the stock owners can vote on it but If its all yours then there is no limit. If you pay yourself too much however your company wont have the strength to grow and you'll wind up with less money to pay yourself. |
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Maris
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No - not really. Too bad we can't get one of the CEO's from one of the mortgage company's who's corp's made billions on the hard luck of the mortgage business - they made out huge and now they're all saying they earned and deserve it. |
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Dana Katherine
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For public companies, CEOs usually get a token base salary with bonus pay based on the performance of the company.
CEOs and other officers/shareholders of private companies can take a full distribution of net profits if they want to. |
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D Rose1
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2 dollars |
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smart girl
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Yes... I believe there is. I believe it has to be "a reasonable amount". (whatever THAT means!) My dad's a CPA, and I think that's what he told me a long time ago. |
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Hank
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yes and no, it really depends if the business is private or public, wat kind of business? |
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Cbear
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no |
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