Ina Steiner EcommerceBytes Blog
News and insight focusing on ecommerce.
by Ina Steiner, Editor of EcommerceBytes.com
Sun Apr 8 2018 08:57:55

eBay CEO Devin Wenig Earns 143 Times His Employees

By: Ina Steiner

Sponsored Link

eBay CEO Devin Wenig makes 143 times the average salary of employees, according to company filings. eBay disclosed the information last week as required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Here's exactly what eBay reported with regard to the eBay CEO Pay Ratio:

- The median of the annual total compensation of all of our employees, other than Mr. Wenig, was $122,891.

- Mr. Wenig’s annual total compensation, as reported in the 2017 Summary Compensation Table, was $17,590,833.

- Based on this information, the ratio of the annual total compensation of Mr. Wenig to the median of the annual total compensation of all employees is estimated to be 143 to 1.

The discrepancy between CEO and employee compensation is coming to light as public companies report the CEO Pay Ratio for the first time this year. A recent Wall Street Journal article found one of the biggest contrasts so far at Marathon Petroleum Corp. "The company's median worker made $21,034 last year. The oil refiner paid CEO Gary Heminger 935 times as much, or $19.7 million."

We've got more on eBay executive compensation in today's Newsflash.

Comments (55) | Leave Comment | Permalink
Readers Comments

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: epuise This user has validated their user name.

Sun Apr 8 23:46:13 2018

... and... these Big Winners just got a " YUGE " Tax CUT... thanks to the GOP...

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: Ming the Merciless

Mon Apr 9 00:00:35 2018

Perhaps Wenig's alleged need for additional security arises not from the hundreds of thousands of sellers he's lied to and stolen from, but from ebafia's own employees.

What a contemptible sleeze.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Silver Ice King This user has validated their user name.

Mon Apr 9 00:24:24 2018

Well based on those numbers it is no surprise that nobody at Ebay has any creative ideas on how to turn things around.  Most of his hires appear to be straight out of college with no work experience except for those that consider the MBA Case Studies to be work experience.  Evidently most of these Case Studies must be out dated or lack any type of motivation for the students because I am not at all impressed with the ''jokers'' they continue to fill their positions with.  

I am sure that a large part of it is the fact that any Top Notch Executive that has goals in mind realizes they need to avoid working at Ebay as that is the laughing stock of the business world.  So that immediately knocks Ebays hiring pool down a few notches and the resulting ideas that they continue to hatch on us show the lack of competence on most of their behalves.  I will admit there are a few there that have some brains, but most that do bail as soon as they can after realizing the damage having this company as your employer does to your career.

Another reason that his salary is so much higher than the average minion that Ebay hires is that many of these employees are in countries where Ebay can continue to pay them squat.  Of course the product they produce is substantially below par which is shown every time that Ebay does an update to the program (lets see how many glitches we can create with this update rather than actually Beta test it ourselves), each Sellers Update with the fantastic ideas they continue to come up with and then of course watching the blues try and explain what these changes mean, all while continuing to try and speak Weasel Speak so that nobody has any idea what Ebay is really saying so that Ebay can then interpret which ever way they need or want to down the road.

Heaven knows that Wenig will never hire anybody that is smarter than him below him as that would show the board what they have been missing all these years.  That is why each time they make a change at CEO it just gets worse and will continue to do so until the Ebay shareholders clean house on the Board of Directors.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: donald This user has validated their user name.

Mon Apr 9 00:55:50 2018




I'm guessing the ebay stock holders feels he is worth it. Is true that ebay gotten better since the HO left but still is full of glitches.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Moonwishes This user has validated their user name.
Web Site

Mon Apr 9 00:58:49 2018

I can almost understand a CEO making oodles of money if their company is robust, sales and dividends are growing and at the same time they take excellent care of their employees via healthcare, retirement, etc. The make and sell a great product and basically have a corner on the market, not from nasty things they do in the background but because they literally make the best of the best.

But every time I read these thing about eBay, it makes me want to upchuck. I've always been a small seller, but in 2006 I made $26K, but in 2008 (just two years later) my sales had dropped $1000 + a month from what I had made at the beginning of the year. My fees by the end of the year were more than the income coming in. All due to the non-stop changes coming our way via eBay. I went to eCRATER and was soon making money again and had a couple of great years and then Google did Panda, Caffeine and whatever other silly names they called it and sales have never been as good. There is a constant struggle to make sure our attributes are right so that we show up on Google shopping.

Selling on line is like one continuous dance to figure out how to bring in enough each month to help with regular expenses. You know like food, utility bills, property taxes, mortgage. I can't even fathoms what someone making 1-2 million do with all that money, but for someone making over a million dollars a month it is almost hard to comprehend. He is now making $47000 a day. Whole families must live on that for a year! I haven't heard of him being a wonderful philanthropist so what does he do with it all? Surely by now his wife is sick of diamonds!

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: Ming the Merciless

Mon Apr 9 01:37:02 2018

Most corporate CEOs are parasites.

I believe that Wenig probably makes in excess of 400 times of what most ebay's small and medium sized sellers make annually.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Chicago48 This user has validated their user name.

Mon Apr 9 01:53:15 2018

I'd like to know how many Ebay stores were closed last couple of years vs. those opening.  

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Chicago48 This user has validated their user name.

Mon Apr 9 01:59:08 2018

OT:  Has anyone seen the fill your cart with color ads?  I'm just now seeing them and while they are bright and cheery, they remind me of Target ads.  And there have been several news reports about consumers FLOCKING to thrift stores (Salvation Army, et al, Thredup, Posh, et al) and thrifting is booming....esp. with the Millenials.   I just wonder why Ebay is always Behind the curve when it comes to what's popping.....instead of ads that show someone dancing through doors with bright colored clothing, maybe they should highlight the "used" "rare" "collectible" items that are online.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: RKTOYS

Mon Apr 9 07:20:01 2018

I wonder why my comment disappeared.  I still hate when the "liberal" media uses "earned" to describe CEO pay.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: DingDong This user has validated their user name.

Mon Apr 9 07:30:36 2018

I have heard that CEO's get these high salaries. But, hopefully they have a plan on improving operations and sales.
Also, these places has employees who get paid by salary or by the hour wages based on 40 hour.

EBay, there has been interchangeable CEO that haven't a clue how to improve the site. Even looking at the constant complaints of the rolling black outs, duplications of listings from the Chinese, and so on would be the simplest to solve.
BUT, there is no employees, but sellers who work hard to get what they can selling on a site that the CEO's have made a maze of traps. Sellers are not "guaranteed" wages like the other companies. And yet, let's steel and make it harder on the sellers.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Snapped This user has validated their user name.

Mon Apr 9 07:39:28 2018

''There must be many other ''high'' paid (Million plus$) as I doubt most of the grunts (rank and file) get any where near $122,000.''

Plenty of bloat in the bay, to be sure. Funny thing about median data used in this context though.  They use it because the Mean (actual average) data would reveal a much smaller value for comparison, and thus a much larger disgustingly obscene disparity ratio.  

A brief logic based estimation using some reasonable approximations can illustrate.  With half (of say 15,000) of those employees below that mean, we can determine an average for at least half of them (7500) to be about $61K - in a SoCAL economy.  But in that economy, there's a minimum wage consideration, so that raises it by $25K at least; to $75K.  The upper half has the presumed $17M + perks ceiling, but clearly logic dictates most of the remaining 7500 would fall closer to just above the median, with a significant fraction well above no doubt, but no way to estimate that reasonably.  But what is known, is that the stratospheric level numbers would be small enough to effectively be statistically insignificant as an impact to this estimation.  So our $122K median is the floor of the remaining 7500 who's average must be at least that median, and more likely no higher than about 15% above it.  Say $140K.  

Meaning a reasonably estimated average would be halfway between the $75K low and the $140K high.

$107K.  Instead of the $122K published.  An AVERAGE of 164 times less 'valuable' to the company instead of the 143 times published.  Imagine that.

Something more significant to take away though.  Even if one sets aside the few $10s of millions sprayed to polish the knobs in the boardroom (and it's figurative foyer), that's STILL leaves an estimated (per above) minimum total payroll of around $1.65 Billion.  On a revenue (2017) of $9.6B.  

Meaning YOU toss into the fountain of helpful eBay employees upon which YOUR eBay business depends an average of 17 cents of every dollar you pay eBay.  And for that every dollar, another penny to the wizard behind the curtain.  

Make a wish.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Whatever This user has validated their user name.

Mon Apr 9 08:24:26 2018

Marie "As do all the other CEO's of big corporations with as big of a salary separation from their other employees.  It is far more common that some seem to realize."

The worst ones are charities - google the salaries of say Goodwill or Salvation Army - you might be surprised.

As for me - well I'm still selling on ebay after 19 years and having one of the best years so far. BUT I'm devoting myself full time this year so I actually see the fruits of my labor. Not real sure where the heck I'd go if not ebay. For me they still have the traffic. Local retail sure doesn't. I can't chide Wenig for getting what he can get - isn't that what I'm going?

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Anniedog This user has validated their user name.

Mon Apr 9 09:36:43 2018

Good for him, all you complainers have the opportunity to be a CEO and make big bucks. Quit complaining and work harder. I have been a full time EBAY seller since 1997 and make a great living from EBAY. It is the best thing that ever happened for my business.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: Dellthorpe This user has validated their user name.

Mon Apr 9 09:48:12 2018

Sure he makes the big bucks Ebay/PayPal has plenty $$ from defrauding all their sellers. If u have been defrauded by Ebay/PayPal contact the FBI @ ic3.gov it only takes a second. Personally I think the CEO, all board members and management at Ebay/PayPal r liers, thiefs, con artist and criminal scum. Their mother must b so proud.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: FEEbay

Mon Apr 9 10:36:02 2018

I could care less about how much cheddar Devil Wenig makes--- Good for him!
What I do care about is the relentless meddling of Ebay with small sellers, and the deteriorating traffic to our listings..... Ebay was at one time 97% of our business online, now it is under 10% this past quarter for the first time since 1999, and I have sold tens of millions of dollars worth of product on the site..... Stick a fork in them, they are done, and if you think that you can actually make a living selling on Ebay?? You are smoking the same stuff as toolguy (and I bet its Goooooood....)

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: geoffreymason This user has validated their user name.

Mon Apr 9 10:53:52 2018

What is wrong with making money? Making as much as you can? I am offended by Wenig's policies and incompetence, but not by his compensation. I am rather put off that such an "unbright" man can hold the position that he does, but it is the Peter Principle proven again. If you think that pulling down the bucks is bad, then you think that money is bad; therefore, you'll never have any. And let's not pretend that we are being raped by Wenig and company; we have all jumped into bed willingly and stay there by choice.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

This user has validated their user name. by: Marie

Mon Apr 9 12:38:28 2018

@whatever

OMG you are sure right.  And that is why when I pick a charity to donate to, I buy stuff they need and donate that.  

I also agree about sales on Ebay.  2018 has started off better than the previous 3 years have.  I don't know if it will stick, but I sincerely hope the trend remains.  

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: val2525 This user has validated their user name.

Mon Apr 9 14:55:42 2018

That's too much money for an exec who won't listen to a wide range of the company's clients (SELLERS of all sizes!) and can't create a team that can see the differences between eBay and everywhere else and capitalize on those differences.

Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: donald This user has validated their user name.

Mon Apr 9 15:21:57 2018



@ Anniedog

If we work any harder we would end up dead before our time.  It was worth it years ago when ebay was our partner.

Tell that to the underworking ceo.



Perminate Link for eBay CEO Devin Wenig Earns 143 Times His Employees   eBay CEO Devin Wenig Earns 143 Times His Employees

by: FeelingFroggy This user has validated their user name.

Mon Apr 9 16:26:48 2018

@val2828

You don't get it. Ebay makes money, wallstreet is happy, stockholders are happy. That is what ebay is supposed to do.

They don't care if you are happy or not. Your a number. You leave someone else will take your place. Its not the CEO's job to listen to you. Your noise.

Click to view more comments
1 2 3  [Next Page]


Login is required to post comments.
To sign in to leave a comment using your AB Verify User Name, fill in the form below. If you have not yet signed up for AB Verify, or if you'd like more information, go to the Registration Page
.

Login for AB Verify
Be sure and use your email address and password to log in.

 
Email:
Password:
 
 Forgot Your Password?
 Even though you are signed in with the AuctionBytes Blog, you will have to sign in to the EcommerceBytes blog. But you can sign in with your existing AB Verify info.