The same should be said about all managers, union or not. CEOs should not be taking home millions and millions of dollars.
Read the book about Tom and Jerry's ice cream. Both of them were hippy-types when they started the company in Vermont and they had 2 rules. 1. All ingredients used were real and had to come from Vermont if at all possible. 2. The highest paid employee could not make more than 50% of the lowest paid employee.
Don't know if they kept to that standard now but I hope so...I love their ice cream!!
They can get set the salary they want to make it look good, but when the profits start rolling in, they divide those up to themselves.
I take a salary that is equivalant to my highest paid employee. Actually, I make less than a person I contract to do some work for my company. But at the end of the day, what's left over after all expenses is mine and mine only. That's the beauty of owning your business.
You all miss the most important point. Who owns the company? The stock holders. Who defines what is a fair wage? The company, not the employees although gov't has become involved and says a fair wage is the 'minimum wage'. The wages paid to management fall on the shoulders of the B of D's. Crooks. I agree CEO's and upper mgt are receiving atrocious benefits, but the B of D's representing the stock holds designate the benefits of mgt. The stock holders need to get their act together and stop the collusion that goes on between the B of D's and upper mgt. The stock holders should be getting good dividends, but for their stupidity just sit back quietly giving away their share of the profits.
I know many of the readers here believe I am anti-union, I am not. Unions are a necessary thing. The trouble is unions out grow what they were created for, to make the employer have safe working conditions and pay a fair wage. Unions achieved their goals by 1946 since then it has been 'get all we can' even if it forces the company into BK. Many of the present problems is due to idiot company negotiators that promised things that are impossible to deliver. They should have said no. Now, to union boss' benefits, they are as corrupt as any group can be. They rip off the members. Your quoted salary is more than fair. Members have allowed the union leadership to live in luxury, way above their worth compared to their members.