Thursday, July 2, 2015

It all depends on what your definition of the words "ridiculously overpaid" is

It all depends on what your definition of the words "ridiculously overpaid" is

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It's not just Attytood readers who think that newspaper journalists are ridiculously overpaid:

The chief executive of the biggest bank in the United States says journalists are ridiculously overpaid.

At the company's annual investor day, JPMorgan Chase CEO Jamie Dimon called the percentage of newspaper company revenue paid out to employees "just damned outrageous," according to Bloomberg News. "Worse than that, you [the media] don’t even make any money!"

Dimon then defended his company's own pay levels, arguing it necessary in the struggle to retain top talent. "We are going to pay competitively," he said, according to the WSJ. "We need top talent, you cannot run this business on second-rate talent."

I guess the level of talent at a newspaper doesn't matter, for some reason. Did I mention that Jamie Dimon made $23 million last year, while the average newspaper reporter in America makes $43,780?

Also...unlike the global banking giant that Dimon runs, newspaper journalists didn't finance Enron and WorldCom, drive the largest county in Alabama into bankruptcy, or overcharge thousands of military families on their mortgage.

For not doing those things, journalists deserve a raise, don't you think?

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Will Bunch
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