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Top Athlete Pay, Kevin F. Hallock
Top Athlete Pay, Kevin F. Hallock
Economics Faculty Publications
The US has a history of discussing the pay of the relatively well-paid. This is partly because pay levels of some are revealed publicly (e.g., CEOs of publicly traded companies). Americans are also characterized as being celebrity-obsessed. So discussing the pay of superstars seems inevitable. However, they do not have quality data on the compensation of the relatively highly paid in many organizations and professions. When the author speaks about compensation in front of large groups, someone (and in many cases, many people) gets incensed over what they term "outrageous" or "egregious" levels of executive compensation. Athletes are rarely mentioned. …
Massive Kinked Bonuses, Kevin F. Hallock
Massive Kinked Bonuses, Kevin F. Hallock
Economics Faculty Publications
While most people are paid by the hour or with a yearly salary, some are also paid bonuses. And, some are paid very large, all-or-nothing bonuses. The author's favorite recent example is from last summer when golfer Darren Clarke earned a $3-million bonus from his sponsor. But it was how the payout was structured more than the amount that so intrigued him -- his sponsor's payout was all or nothing. How people are paid is fascinating. It is particularly interesting in this case of very, very large bonuses. The sports odds that Darren Clarke would win the tournament going into …