I always read here about CEOs making hundred times more than an employee, let me show you something terryfing from an e-commerce leader on the Czech Republic market. It's an example, that it can always be worse. I've been browsing through public financial records and found out, that in 2020, the company made a profit – just one owner – (after taxes etc.) of 2,14BLN CZK – 93M USD.
The total yearly cost for an average worker was 720K CZK – 31K USD – this is not just an average in this company, but more or less in the whole country and i have the same amazing wage as well..
(After all deductions – tax, social, health.., employee receives just 60% of this amount, that is 432K CZK – 19K USD)
Just for context, a flat of 80-100m square is around 400-500K USD with an average yearly wage of net 18-20K USD.. that is around 20 years of pay for a place to live, almost nobody can afford a mortage so the money is a sucked by landlords who can control more of the market which is in extreme bubble, among the worst in EU.
So, that was one thing, the CEO making a little bit more than us..
Then, on Linkedin, the board chairman reacted to some other company giving laughable few percent COLA to employees, that it is absolutely terrible thing to do and the only way to stop inflation is to definitely not to increase wages.. lol
Current inflation here is 17%, among the worst in the EU, yet the company wont give a single percent raise.
Head of HR had an easy answer to this, not to beg for more money, it's our fault we haven't invested. Well even if we did, with what money?!
Many are leaving, people are already overworked and nobody new is being hired. It's always been a hellhole, where your job is meant for 2 or more people and every single month you had more and more additional work to do without expanding the teams of course. To all this, add terrible micromanagement with tasks coming friday afternoon and if not done till monday there are possible deductions from pay.. yay, what a motivation.
For anybody here wanting to come to work and live in CZ and i know there are such, i have to warn you, we have western prices, eastern wages and greedy owners.
Nobody in the middle, only the few rich and the poor.
It all just gets worse and worse, yet all i hear from people 50yrs and older who run everything is how easy we have it these days.