The CEO of MaRS Discovery District (an incubator in downtown Toronto) is paid an astonishing $500,000 plus pension and benefits.
This is unconscionable. It is an obscene amount of money to pay for a position that is a cross between a glorified property manager and event planner role.
Worst of all is the message that this sort of compensation sends to the very community MaRS is meant to encourage. When we pay ridiculous salaries to people in the quasi public sector (like MaRS, Ornge, hospitals, and public utilities), which are out of line with compensation in either the true public sector or the private sector, we send a clear message to entrepreneurs that they are idiots.
Clearly, the economically wise choice for anyone with leadership potential is to shun entrepreneurship and instead to pursue a career in the quasi-public sector: risk-free, high reward, easy jobs abound!
That’s my rant – I look forward to your comments.