I just stumbled upon the prize money table at Wimbledon. The winner gets one million pounds sterling. The runner up gets 1/2 million. The 64 first round losers get £11’250 each and the 32 second round losers get £18’750 each. In total, those 96 losers earn £1.32 million. So the two finalists earn more than the 96 losers competitors in the first rounds together. Furthermore, the increase over 2009 was 17.6% for the top 16 players, but only 4.7% to 6.8% for losers of the first three rounds.
Wow.
Are there any similarities to pay scales withing companies? Actually, I think I know the answer to this one. More interestingly, given that corporate pay scales do look like tennis tournament prize winnings, what effects does this have on cooperation and teamwork within the company, especially at the levels of top management or between the departments of the “Quarter-finalists”?
Cookie | Duration | Description |
---|---|---|
cookielawinfo-checkbox-advertisement | 1 year | Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . |
cookielawinfo-checkbox-analytics | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics". |
cookielawinfo-checkbox-functional | 11 months | The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". |
cookielawinfo-checkbox-necessary | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary". |
cookielawinfo-checkbox-others | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. |
cookielawinfo-checkbox-performance | 11 months | This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance". |
viewed_cookie_policy | 11 months | The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data. |
Cookie | Duration | Description |
---|---|---|
mailchimp_landing_site | 1 month | The cookie is set by MailChimp to record which page the user first visited. |
Cookie | Duration | Description |
---|---|---|
CONSENT | 2 years | YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data. |
_ga | 2 years | The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. |
_gat_gtag_UA_42152348_1 | 1 minute | Set by Google to distinguish users. |
_gcl_au | 3 months | Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services. |
_gid | 1 day | Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously. |
Cookie | Duration | Description |
---|---|---|
NID | 6 months | NID cookie, set by Google, is used for advertising purposes; to limit the number of times the user sees an ad, to mute unwanted ads, and to measure the effectiveness of ads. |
test_cookie | 15 minutes | The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies. |
VISITOR_INFO1_LIVE | 5 months 27 days | A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. |
YSC | session | YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. |
yt-remote-connected-devices | never | YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. |
yt-remote-device-id | never | YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. |
Cookie | Duration | Description |
---|---|---|
COMPASS | 1 hour | No description |
cookies.js | session | No description available. |
S | 1 hour | No description available. |
3 Comments
This is already fairly well covered.
Even wiki has an entry: http://en.wikipedia.org/wiki/Executive_pay
Hi Anonymous,
From the perspective of executive pay, I agree. My source was Tim Harford, author of The Undercover Economist.
The (not universally accepted) conclusion of tennis tournament theory is that doesn't matter what the CEO actually does; his salary is a motivator for the rest of the company to do their best.
Note that I don't say motivates the team to do its best, because this theory implies that everyone below the CEO is a competitor to each other.
I don't have any opinion on its validity to CEO salaries. I am however convince that it explains the behavior of the "quarter-finalists" beautifully.
BTW – the World cup has a much flatter distribution curve:
$8 million – To each team exiting after the group stage (16 teams)
$9 million – To each team exiting after the round of 16 (8 teams)
$14 million – To each team exiting after the quarter-finals (4 teams)
$18 million – Fourth placed team
$20 million – Third placed team
$24 million – Runner up
$30 million – Winner
Why is the treatment of soccer teams more egalitarian than of tennis players?