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TECH CEO’S DAILY SALARY, COMPARED

RS Components has researched just how much some of the biggest tech CEOs are getting paid in comparison to their employees – but really, just how much more is it?

Working in the technology industry is immensely exciting due to its fast-paced nature, progressive attitude and mind-blowing discoveries that are literally occurring with each minute that passes. The sector is arguably having one of the most direct impacts on society and has never been more relevant as it is increasingly transforming the way we are doing things both at work and also at home. With an attitude driven by innovation, processes are being made quicker, faster and more efficient in a breadth of aspects, and as more breakthroughs are coming through, the industry has no signs of stopping.

To match the inspiring nature of the tech industry, working in the sector also has great financial benefits, as it provides a good wage with the average salary reaching an impressive £62,000. With the average UK salary amounting to £29,009, working in tech provides significant opportunity.

The average salary in the industry is also a reflection of the world we live in, where social media has an enormous impact on the globe with the likes of Facebook, Twitter and Instagram, combined with various services being provided with just a tap of our fingers on our digital screens, which companies such as Amazon, Apple and countless other tech companies.

With the significance of tech in nearly every industry, from entertainment, manufacturing, transportation and travel, it comes as no surprise the decent wages tech employees are gaining. But looking even further into some of the most profitable tech companies in the globe, it is clear that whilst employees are earning a healthy salary, the CEOs are the ones that are seeing the seriously impressive benefits of the industry.

But which tech CEOs are earning the most and how many days would it take their average employees to earn the salary of those at the top for just a single day’s work?

RS Components reveal the tech giants that have the biggest pay gap between their CEO and average employee in this graphic.

Rank Company CEO pay per day ($) Employee pay per day ($) Days employee needs to work
1 IBM 90,411 277 327
2 Apple 43,014 152 283
3 Intel 58,904 280 211
4 HP 40,356 230 175
5 Microsoft 70,685 459 154
6 Amazon 4,658 78 60
7 Sony 11,041 334 33
8 LG 6,548 219 30
9 Dell 6,507 298 22
10 Panasonic 6,000 360 17

The results show that whilst being an employee in the tech sector can leave you with a better average wage compared to other industries, the real wealth of the industry is shown in the salaries of its CEOs and the astronomical difference some of these top individuals are earning compared to the rest of the company.

IBM comes out as the company with the biggest pay gap between its CEO and the average employee. CEO Ginni Rometty has held the position since January 2012 and earns a staggering daily salary of $90,411. Joining the company back in 1981 as a systems engineer, Rometty’s wage has increased, making her one of the highest paid CEOs in the tech industry. With IBM’s average employee pay amounting to $277, per day it would take them just under a year (327 days to be precise) to earn just what Rometty earns in one day, which is $90,411 – that is over 300 times more than what the average employee at IBM is earning.

Apple comes in at second place for having the widest pay gap between its CEO and the average employee. Tim Cook holds a daily wage of $43,014, which interestingly is not even in the top three highest CEO salaries studied, with Intel and Microsoft’s CEO’s earning at least $15,000 more each day. The average employee at Apple, however, earns the second lowest wage of all businesses analysed, at $152 per day. The lowest earning employees are Amazon at $78 each day. At Apple, it would take employees 283 days of work to reach Cook’s daily rate.

Fortunately, not all of the tech industry have such significant pay gaps between their employees, with Panasonic employees needing to work just 17 days to reach the daily salary of CEO Kazuhiro Tsuga, who earns $6,000 each day. Dell is close behind with employees needing to work 22 days to reach CEO Jo Seong-Jin’s daily salary.

The tech industry pays well and many employees sit well above the UK average income. However, there are issues when it comes to the difference in pay between CEOs and their employees. With the tech sector only set to increase in profit and investment, there is no denying the fact that CEOs pay will increase too, but how do we bridge the gap between employees and top CEOs?

Take a look at the data and content here created by RS Components.

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Finance

WHAT’S NEXT? PAYMENT TRENDS IN 2021

Philip McHugh, CEO at Paysafe

 

Undoubtedly COVID-19 is going to continue having an impact on us all at least for the next few months and maybe all of this year, but there are still reasons to be optimistic. The industry continues to evolve quickly, and that in mind, here’s five of our predictions to watch out for in payments in 2021:

 

1. New consumers to online change the digital payments landscape

As more consumers headed online during the first wave of COVID-19, businesses noticed that their customers were also paying differently. Three quarters (76%) of the businesses we recently asked for our Lost in Transaction research report series said that consumers were using different payment methods during the pandemic, with the increased use of digital wallets being the most common. Having more customers that were new to eCommerce, and customers now shopping regularly with businesses that they were not comfortable sharing their financial details with, were key reasons for this.

Consumers confirmed this was true. When we asked in April, 18% of consumers told us they shopped online for the first time during the pandemic. With 38% of consumers telling us they are planning to shop online more even when COVID-19 is no longer a factor in their lives, we should see this shift to alternative payments continue.

 

2. SCA will drive mass adoption of biometric authentication 

Perhaps the first factor to shake up the payments industry in 2021 is going to have the greatest impact of any trend we will see in the coming year. That is because, after a series of extensions, the deadline for PSD2 Strong Customer Authentication is fast approaching. From December 31 2020 any transaction that isn’t verified by multi-factor authentication will be automatically declined.

One of the inevitable consequences of this is going to be a huge increase in the use of biometrics to verify payments. With the growth of mCommerce that we have seen before and during COVID-19, it seems very likely this will accelerate beyond predictions made at the initial SCA deadline in 2019. Juniper Research has already predicted that biometrics will be used for more than 18 billion transactions in 2021, with a value exceeding $210 billion in 2021.

 

3. A renewed focus on 5G

The importance of 5G and the growth of the IOT was another prediction we made for 2020. But while the impact of the pandemic has been to accelerate many of the trends we expected to see, perhaps one area where the pandemic has actually slowed adoption is the growth of 5G. With consumers spending so much time at home, appetite for personal 5G-enabled devices has been limited.

But at the same time, the need for the in-store shopping experience to be as frictionless as possible is now more important than ever. Almost half (46%) of businesses told us that they had lost sales in 2020 because their checkout times were too slow. So the use of 5G technology to overhaul the checkout will be back at the top of retailers’ agendas.

Almost half (47%) of stores told us that 5G will mean the end of the traditional checkout, and more than half (53%) believe that Amazon-Go style frictionless checkouts are the future of retail. Omnichannel experiences where consumers shop in a store and then pay via a digital checkout on a smartphone app are also on businesses’ radars.

 

4. A surge in subscription models

Almost one fifth (18%) of stores told us that they had launched a subscription services during the pandemic, and this is not only a result of business need but also customer demand. Overall, 27% of consumers told us that they were already planning to increase the number of subscriptions they had in the future, and this rose to 37% for consumers aged 18-34.

The growth will not be limited to digital either. Pret A Manger recently launched the first in-store coffee subscription service in the UK, and we expect to see similar models populating malls and independent stores soon.

Also, only the initial purchase of a subscription is subject to PSD2 multi-factor authentication. So for some businesses, launching a subscription service may be a way to reduce friction in the online checkout.

 

5. AI and machine learning as the cornerstone of fraud prevention

We’ve known about the importance of artificial intelligence (AI) and machine learning to financial services for years, but in many cases the industry has been slow to implement the technology. With the sophistication of financial crime increasing, and the growing concerns of consumers of being a victim of fraud, it is no surprise that adoption is now accelerating rapidly.

Banks have currently spent as much as $217bn on AI applications already, and in 2021 AI and machine learning based systems will be the standard in fraud prevention.

 

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Top 10

THE TOP 5 CRYPTO EXCHANGES IN THE WORLD YOU SHOULD KNOW ABOUT

Introduction

Crypto Exchange is a very important part of the Cryptocurrency EcoSystem. Crypto exchanges are the platform where transactions take place. You can also purchase Bitcoins in crypto exchanges.

It is a marketplace in the digital sphere that allows traders to purchase and sell Bitcoins. Do note that fiat currencies and altcoins can also be used in crypto exchanges. Since you have clicked on the link to this blog, there is a high chance you are a Bitcoin investor, or you are someone who likes to keep a keen eye on the crypto space.

And why should you not? Given all the buzz that cryptos are making in the financial markets. Bitcoin is the most famous cryptos, so I will be talking only about bitcoins in this blog for the sake of convenience.

 

Crypto Exchanges 101

A Crypto Exchange’s primary objective is to act as a broker and bring a buyer and seller to one place. It is pretty much like a traditional stock exchange; the only difference is that everything related to crypto exchanges happens digitally.

However, the process is not that different. On Crypto exchanges, traders have the option to sell and buy Bitcoins after inputting a value or order. When a trader selects the market value, the crypto scans the best market value available for the Bitcoins and presents it to the trader. Visit daily profit to start investing.

In order for a trader to transact in bitcoin, he needs to get himself signed up with the exchange platform. And then go through the various amounts of verification procedures. Once the trader has successfully verified his identity. He can start trading. But before that, he needs to transfer his fiat currencies to Bitcoins, and only after that, he can buy Bitcoins.

The currency exchange methods vary from exchanges to exchanges. Some allow users to transfer it via wiring through the bank; some well-established exchanges allow a direct transfer from the bank. Some allow the use of credit and debit cards.

 

Features of a Crypto Exchange

Crypto Exchanges have a lot of features that will ease up your transaction process.

  • Crypto Exchanges are decentralized – Decentralised means it operates without any governing body. There are no intermediaries in between. It offers peer to peer trading without having to show an account of your spending to the regulatory body.
  • Low Processing Fees – As crypto exchanges are decentralized, it is a peer to peer connection.

 

The Top 5 Crypto Exchanges In The World You Should Know About

There are more than a thousand crypto exchanges; trying them out one by one will take a lifetime. So as a crypto investor, I have personally selected the top five most popular crypto exchanges that you ought to know about.

1.    Gemini

The most widely used Crypto exchange on the face of the Earth is Gemini. It is perfect for all the major cryptocurrencies, but when it comes to Bitcoins. The only little drawback that I find in Gemini is that it asks for way too much personal information.

2.    Etoro

Etoro is more of a financial trading service than an actual crypto exchange, but it is worth talking about nonetheless. Crypto investors hold this app in high regard; it has a very good reputation. It has very high processing fees, which may annoy some traders.

3.    Kraken

When it comes to security, none can match Kraken. Apart from that, it has a very big user base. And it also charges very low transaction fees. A handful of traders do not like Kraken as it does not offer the best customer support services.

4.    Binance

Unless you had been living a rock, you must know Binance. Binance is the go-to crypto exchange. You get to see the ads of the Binance app over the Internet a lot. Binance gives you the added advantage of trading huge amounts of cryptos in a single time. Binance is only meant for experienced traders. It is not recommended for newbies.

5.    Coinmama 

Coinmama offers very strong security. The UI is user friendly. The best part is the customer support. I personally like Binance the most because it takes a step further and makes sure that proper security measures are implemented and add to that its classy user interface.

Many traders may not like Coinmama as the significant-high processing fees.

 

Final Words

There you go, there was the list of top 5 crypto exchanges. Please invest your money at your own risk. You should have a very strong knowledge of the crypto market before investing. Otherwise, you may face huge losses.

 

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