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This question is about salaries.
What is owner compensation?
Owner compensation is the money a business owner pays themself for the work they do for their own business or company. Owner compensation is often up to the business owner's discretion and can be as much or as little as they choose.
While owner compensation is often solely the decision of a business or company owner, they must consider many different factors when determining how much they will pay themselves for their work.
Some factors to consider when considering owner compensation include:
Employees and their relative compensations
The success of the business or company
If they are willing to take a pay cut to expand the business
Owners must also make sure that their compensation doesn't harm any of the following parties:
Employees
Suppliers
Creditors
Customers
Taking excess money out of a business or company that damages any of these key parties can be a big mistake for business owners. Owners should be paid well, of course, but they need to make the right decisions for all parties invested in their business in one form or another.
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