Are CEO's Ready to Face Career Instability?
November 13, 2008
Original publication: CNBC
Date of publication: October 15, 2008
In pro sports, both older athletes declining in performance and younger, unproven ones in their physical prime will sign incentive-laden contracts with relatively low guaranteed salaries. This equates to a probationary period – if you produce, your salary goes up next year. It worked just dandy for future Hall of Famer Frank Thomas. He signed a $500K one-year deal with the Oakland A’s at age 37, performed amazingly well, then landed a two-year deal for some $9 million annually.
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