Charles M. Schwab
Charles M. Schwab
Charles Michael Schwabwas an American steel magnate. Under his leadership, Bethlehem Steel became the second largest steel maker in the United States, and one of the most important heavy manufacturers in the world...
NationalityAmerican
ProfessionBusinessman
Date of Birth18 February 1862
CountryUnited States of America
men salary dollars
I am not a believer in large salaries. I hold that every man should be paid for personal production. Our big men at Bethlehem seldom get salaries of over one hundred dollars a week; but all of them receive bonuses computed entirely on the efficiencies and the economies registered in their departments.
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The man who fails to give fair service during the hours for which he is paid is dishonest. The man who is not willing to give more than this is foolish.
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Here I am, a not over-good business man, a second-rate engineer. I can make poor mechanical drawings. I play the piano after a fashion. In fact, I am one of those proverbial Jack-of-all-trades who are usually failures. Why I am not, I can't tell you.
adopted bethlehem business efforts managers partners san share united works
In our works at Bethlehem and San Francisco, and all over the United States, I adopted this system: I pay the managers practically no salary. I make them partners in the business, only I don't let them share in the efforts of any other man.
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Did you ever stop to think that a great man in life who has won great acclaim and great reputation is the very man who is willing to share and give the honor to others in the doing of things that made him great?
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In my own house, I rigged up a laboratory and studied chemistry in the evenings, determined that there should be nothing in the manufacture of steel that I would not know.
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The captains of industry do not keep on working for the sake of making money, but for the love of completing a job successfully.
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Men make opportunity. Every great industrial achievement has been the result of individual effort - the practical development of a dream in the mind of an individual.
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I mention the need of cooperation and confidence among the men who work, no matter what may be their relative ranks, because it is the vital factor underlying everything. Only as we are willing to work today, work as we never have worked before, will civilization survive.
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The fundamental principles of prosperity in every country are so well understood that they need but little if any discussion. They are so simple that with the proper cooperative action the American people collectively can easily place this wonderful country of ours in the position that it is so well qualified to hold among the nations of the world.
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I consider my ability to arouse enthusiasm among men the greatest asset I possess. The way to develop the best that is in a man is by appreciation and encouragement.
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Concentrate and think upon the problem in mind until a satisfactory conclusion is reached, and then finally go ahead. If you have made a mistake, all right. Never find fault with a man because he has made a mistake. It is only a fool that makes the same mistake the second time.
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Bare hands grip success better than kid gloves. Be thorough in all things, no matter how small or distasteful! The man who counts his hours and kicks about his salary is a self-elected failure.
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I have always believed that the aristocracy of any country should be the men who have succeeded - the men who have aided in upbuilding their country - the men who have contributed to the efficiency and happiness of their fellow men.