Frank Wang, who is paid $75,000 a year as president of Oklahoma School of Science and Mathematics, rejected an opportunity for a large raise because he feared the adverse impact it likely would have on one or more of his employees.
A consultant had recommended a salary range of from $87,212 to $130,818 for his position. "I told our finance guy that I would decline any increase because 70 percent of our expenditures are for personnel, and I likely would have to let someone go or reduce someone's work hours to get the pay increase," Wang said.
Compare that to the president of a Rhode Island-based toy company, whose pay was bumped up from $25 million to $28 million, at the same time the company let 170 employees go. Can you imagine how many jobs the so-called "job creators" actually would create if they had the same attitude as Wang? Don't hold your breath.