$200k doesnt get you very far, i wouldnt call it a fat cat salary. The directors all have significant equity interests in the company so I am sure they all want to see this suceed just as much as everyone else. Your forgetting that this is company and they need to attract and maintain talent. I agree with your point they need to take more delayed gratification instead of large salary (when not appropriate) however not everything is as crsytal cut as you make it out to be.
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$200k doesnt get you very far, i wouldnt call it a fat cat...
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