Dallas hospital uses executive bonus pool to fund minimum wage increase
Occasionally the news makes Scriber less pessimistic - even happy at times. Here is such an article.
Parkland Health & Hospital System in Dallas will raise its own minimum wage to $10.25 an hour next month, paying for the increase with money originally devoted to executive bonuses.
However, the same report admits that the overall bonus pool is about 10 times larger than what this move cost the hospital.
The wage increase will cost the hospital about $350,000 a year. The expense will be covered with money from the upcoming quarter’s bonus pool for the hospital’s 60 vice presidents and top executives. That pool was between $750,000 and $1.2 million in the most recent quarter, and it’s between $3 million and $5 million for the full year.
In spite of good intentions by Parkland, these numbers tell us about one source of increasing income inequality in America.
Incomes are more unequal in some parts of the US.