$15 an hour, 40 hours a week, 52 weeks a year = $31,200. That is ridiculous to even consider for a fast trod worker, most of whom have no education beyond high school. Even at 30 hours a week it is $23,400, which is more than I made my first three years out of Wake. While it may bring into question the profession I chose, I was still in a job that required a Bachelors.
When did you graduate?
$15 an hour, 40 hours a week, 52 weeks a year = $31,200. That is ridiculous to even consider for a fast trod worker, most of whom have no education beyond high school. Even at 30 hours a week it is $23,400, which is more than I made my first three years out of Wake. While it may bring into question the profession I chose, I was still in a job that required a Bachelors.
In all seriousness, what is your justification or rationale for declaring that this proposed wage is ridiculous?
Got to be late 70s or early 80s. That is when the largest group of nutjob conservatives attended Wake.
Why not raise prices by 10%
maybe you were one of those people who wasted money by going to college.Yeah, cuz a burger flipper totally deserves to make 31k/year.
FWIW, I graduated in 1994 and made less than 20k with my first job out of college. I made 18k, which is 28k now (and yes, that was shitty even back then, particularly for a WF grad, even one with a worthless history degree). I was stuck around that mark for a few years, actually. For the first half of 1997, I was still making only around 21k, if memory serves correctly. That amounts to almost 31k now, which is what $15/hour would be.
McDonald's CEO pay has nothing to do with what a franchiser is forced to pay his workers.
MacDonalds 2009 FDD (the only one I could get find) states that the average MacDonalds store does $2.3M in annual revenue and has a bottom line of 10%. That means the average macDonalds net profit is about $230K.
I have no idea how many workers there are on a typical shift, but for the sake of disucussion, let's say five. I'm sure there are more during a lunch rush and fewer late at night. Most MacDonalds are open 18 hours per day, 6:00AM until midnight.
So 18 hours times five workers would mean that store owner is paying for 90 labor hours a day, 630 hours per week, 32,760 per year.
A wage of $15 per hour is an increase of roughly $7 per hour. That means labor costs for this average MacDonalds would increase by $229,320 on an annual basis, wiping out any profit.
Let's even say my assumptions are way off and cut the number of total hours in half. That still means that average MacDonalds that realized a net profit of $230 before the increase will now make roughly $115.
Welcome to the home of the $10 Happy Meal.
OK, that is a well thought out and resourced rationale. No question. Basically, the market dictates that the product McDonald's sells, at the price point it currently uses, cannot support a living wage. I agree.
There's a follow up question, which is, does a person who is working full time (i.e., holding up his/her end of the "social compact") deserve to make enough money to support him/herself and raise children? If yes, then who is responsible for making up the difference between a McDonald's current wage and the wage necessary to accomplish that? McDonald's and its customers ($10 happy meal) or taxpayers at large (i.e., raising my taxes even though I avoid McDonald's like the plague) ?
If no - I guess that is a hard thing for me to understand. We say we want people to work, but when they actually do work, we (as a society) refuse to pay them enough to live and raise a family? Do we really expect 100% of the work force to get a college degree and work in an office tower making 100K a year?