How many is a couple and how much would they have to make to skew that average drastically? I did a few napkin calculations and it would take a lot of hilariously highly paid executives to matter for the average.
"Citi CFO Mark Mason said today that the bank expects to make annualized run rate savings of $1.5bn a year from those 7,000 job cuts. This means the bank was spending an average of no more than $214k on each of those people, including employer's taxes."
Title is incorrect. If they cost Citi $214k each, I'd eyeball they were being paid around $150k.
This title is incorrect. Citi says cutting these 7k jobs is saving them $214k/year/person in costs, but not all of that cost is salary. There’s also employee benefits, services, office space, etc. I’d guess the average salary is about 60-70% of that. And as others have noted firing a few outsized earners will skew the pool.
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[ 3.0 ms ] story [ 22.0 ms ] threadTitle is incorrect. If they cost Citi $214k each, I'd eyeball they were being paid around $150k.