Why big corporations should pay their employees more than the market value

There is an almost cliche statement made by affluent people that they like to pay their employees what the market thinks they are worth.

This means that If the market value for a particular job is $20000 a year, the owners of rich corporations raking in billions of dollars will not want to pay $30000.

I disapprove of this principle.

I agree this principle can be applied to owners of startups that are struggling to generate a profit but not to established corporations.

Imagine the difference $10000 can make in the life of a common employee who belongs to a humble background.

That $10000 may be a chunk of change for the very rich but not so for that employee.

For rich people, paying employees higher than the market value must be a norm and not an exception.

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Jamie Larson