Kindly help me to respond to my Peers post

Executive salaries is a matter that causes much debate as critics have debated that executives receive very profitable compensations even when companies are not meeting the expectations of shareholders. A major problem that occurs in setting executive base pay is the ratchet effect: the commonly observed occurrence, that some processes cannot go backwards once certain things has occurred (Executive compensation 2013). The public sees the executive salaries as excessive mainly because of the lack of equity and whether or not the rewards are merited. It is difficult to describe the contribution of executives especially to persons outside the organisation. (Executive compensation 2013) Workers have been speaking out against big CEO pay raises this was especially present since COVID-19 pandemic. The issue that was highlighted was that CEOs did quite well during these challenging times. This saw shareholders voting against CEOs in various companies (Popli, 2022). In 2019, the average pay for the Chief Executive Officer (CEO) of a commercial bank in Jamaica was forty seven million based on a Sunday Gleaner analysis that gives a rare insight into the executive compensation(Johnson, 2021). The investigation which looked at salaries before tax paid by six of the eight publicly listed commercial banks operating in Jamaica from 2017-2019. Compensations at the highest level usually include basic salary and variable pay. For several stakeholders of the institutions examined they expressed that they have a right to the information stating that with this information they could then negotiate for fairness in salary for workers (Johnson, 2021).

Royal Caribbean Cruises reported executive compensation for a record 2019 financial year. CEO and Chairman Richard Fain saw $14.4 million for 2019 which was mainly from stock awards. Other key executives have also been handsomely paid, Michael Bayley, president and CEO took home over $7 million for that year. The company however noted it will consider the business and financial impact to the company, shareholders and employees in evaluating 2020 performance. (Mathisen, 2020).