|
Sponsored Links (Register now to hide all advertisements) |
|
|
Thread Tools | Display Modes |
05-03-2023, 04:46 PM | #1 |
Senior Member
Join Date: May 2016
Location: Glide, Oregon
Posts: 1,339
|
Ford pay in 1930?
We've all heard the story of Ol' Henry increasing his worker's pay $5 a day in 1914 but what did his worker get in 1930, the era of our cars? Curious mind are asking.
Thanks
__________________
Ruth "Sometimes you really DO need to read the whole thread" |
05-03-2023, 08:04 PM | #2 |
Senior Member
Join Date: Jan 2012
Location: Western North Carolina
Posts: 3,904
|
Re: Ford pay in 1930?
The average yearly income of a worker in 1930 was $750. Henry made $14 million in 1930. (Source: https://ivypanda.com/essays/ford-mot...onomic-crisis/) To put that in today's money, Henry would have an income of 1.4 billion today.
The depression was a hard time for workers at Ford. See https://nhdinwi.weebly.com/uploads/2...ouge_plant.pdf.
__________________
A is for apple, green as the sky. Step on the gas, for tomorrow I die. Forget the brakes, they really don't work. The clutch always sticks, and starts with a jerk. My car grows red hair, and flies through the air. Driving's a blast, a blast from the past. Last edited by nkaminar; 05-03-2023 at 08:11 PM. |
Sponsored Links (Register now to hide all advertisements) |
|
05-04-2023, 05:53 PM | #3 |
Senior Member
Join Date: Feb 2011
Location: NNNNNNNNJJJJJJJJJJ
Posts: 6,796
|
Re: Ford pay in 1930?
I am confused nk, you are saying money today is worth 100x what it was worth in 1930?
seems hard to believe, even with todays costs. Ive seen a multiple of 18x, not 100. |
05-04-2023, 06:47 PM | #4 |
Senior Member
Join Date: May 2010
Posts: 2,790
|
Re: Ford pay in 1930?
I read just the other day that a dollar today has the same buying power as a nickel had, in 1930.
Inflation has increased 1,707% from then to today. I won't go into the 'why' but you can kinda guess who is responsible and it ain't 'us'. 'They' are and always have been the sole creators of inflation. |
05-04-2023, 07:00 PM | #5 |
Member
Join Date: May 2010
Location: Livonia, MI
Posts: 80
|
Re: Ford pay in 1930?
My Grandfather worked at the Rouge from 1919 to 1957 (off a few years for the Depression). I have his ledger showing his hours worked and pay. Unfortunately it starts in March 1935, he was getting paid $5 a day then. No shift premium or time and a half for Saturday, just $5 for every day worked. It looks like it went up to $6 a day around October 1935.
|
05-04-2023, 07:19 PM | #6 | |
Senior Member
Join Date: Jul 2011
Location: Redondo Beach, CA
Posts: 5,849
|
Re: Ford pay in 1930?
Sponsored Links (Register now to hide all advertisements)
Quote:
|
|
05-04-2023, 07:19 PM | #7 |
Senior Member
Join Date: May 2010
Location: Chicago
Posts: 1,413
|
Re: Ford pay in 1930?
Here you go:
https://www.bls.gov/data/inflation_calculator.htm
__________________
No one wants advice - only corroboration. -John Steinbeck |
05-04-2023, 07:24 PM | #8 |
Senior Member
Join Date: May 2010
Location: McKinney, TX
Posts: 522
|
Re: Ford pay in 1930?
A 1 OZ Gold Eagle was a $20.00 gold coin. Gold Spot today is $2051.00 per OZ. So a $20.00 Gold Eagle back then will still have the same purchasing power as $2000.00 today.
|
05-04-2023, 07:26 PM | #9 |
Senior Member
Join Date: May 2010
Location: Chicago
Posts: 1,413
|
Re: Ford pay in 1930?
There's no easy way to answer the original question, unfortunately. Yes he famously started the $5 day in 1914 but not every employee was eligible for that. Ford was also forced to lower wages during the depression. Somewhere there is a breakdown of how much wages were each year but not sure where.
-Tim
__________________
No one wants advice - only corroboration. -John Steinbeck |
05-04-2023, 07:39 PM | #10 |
Member
Join Date: May 2010
Location: Livonia, MI
Posts: 80
|
Re: Ford pay in 1930?
I just found this on the internet. It will help explain the ups and downs of wages in the late 20’s early 30’s.
|
05-05-2023, 05:35 AM | #11 |
Senior Member
Join Date: Jan 2012
Location: Western North Carolina
Posts: 3,904
|
Re: Ford pay in 1930?
My estimate of what Henry would be making today is mostly based on what other rich people make today. The difference between the workers and CEO's has increased. If you look just at inflation rates, Henry's 15 million would be $273 million. I think Henry made more later on, even while the Ford company was loosing money during the depression. Still, $273 million pays for a lot of camping trips.
__________________
A is for apple, green as the sky. Step on the gas, for tomorrow I die. Forget the brakes, they really don't work. The clutch always sticks, and starts with a jerk. My car grows red hair, and flies through the air. Driving's a blast, a blast from the past. |
05-05-2023, 05:48 AM | #12 |
BANNED
Join Date: Mar 2022
Location: Chenango Bridge NY
Posts: 433
|
Re: Ford pay in 1930?
The profits from the model T made Henry Ford one of the richest men in the world. It kept Ford Motor Company afloat for 17 years of no profit..
By late 1930 the question wasn’t wages, it was if you were working.Ford closed a majority of the Assembly plants in 30/31 with the resulting impact on the Rouge.The A lost market share at the time too,Chevrolets 6 cylinder was hurting Ford sales. Another amazing fact about T profits.. it carried Ford through the development of the V8..the complexity of the mold (it had 46 cores) for the V8 block led to a 96% casting rejection rate in ‘32, a problem that would have drove other companies into insolvency. |
05-05-2023, 09:33 AM | #13 |
Senior Member
Join Date: Feb 2011
Location: NNNNNNNNJJJJJJJJJJ
Posts: 6,796
|
Re: Ford pay in 1930?
so Jeff quotes a multiple of 17, which I was close to and the gold piece equals 100x.
clear as mud............. well I guess the reality is gold went up way more then inflation, so was good to hold gold. all depends what you are comparing it too. so 5.00 a day then and what are todays avg wages for say, working at ford gm or chrysler? We prob went way up, due to unions, which I dont know if they really existed in 1930? doubt it....... getting back to the original question- wages stayed stagnant for those 16 yrs. |
05-05-2023, 06:45 PM | #14 |
Senior Member
Join Date: Jun 2017
Location: Walla Walla, WA
Posts: 1,045
|
Re: Ford pay in 1930?
At $5 per day and 6 days a week x 52 weeks = $1,560 per year. For a 5-day week, it would be $1,300 per year.
|
05-05-2023, 07:03 PM | #15 |
Senior Member
Join Date: Mar 2012
Location: Ohio
Posts: 1,975
|
Re: Ford pay in 1930?
FYI, I was just reading my proxy for the Ford stockholders meeting. The current CEO's total 2022 compensation is estimated at $20MM/yr. William Clay Ford, Jr was about $17MM
|
05-05-2023, 08:18 PM | #16 |
BANNED
Join Date: Mar 2022
Location: Chenango Bridge NY
Posts: 433
|
Re: Ford pay in 1930?
The Rouge alone had up to 80k employees at the time.. Ford made payroll in cash, weekly.Imagine the pressure that was. Ford also sold their cars to the dealers for cash. Ford would lend money to the banks so they could loan it to the dealer, who had to pay Ford cash for inventory.. basically ford made interest on the money they were paid, as they were paid it.
Folks like to think Ford cared about his cars.. he did, in a way, he needed them to sell.Ford Motor Company, especially during the T days was all about the money, like most businesses |
05-05-2023, 08:24 PM | #17 | |
Senior Member
Join Date: May 2010
Posts: 2,790
|
Re: Ford pay in 1930?
Quote:
I just read the other day that the CEO of Toyota, Aiko Toyoda, makes $700,000 per year, and they limit his pay to no more than like 15 times what the lowest paid guy in the shop makes.....the guy pushing a broom. Compare that to the CEO of Ford, Jim Farley (Chris Farley's cousin) like Gene said, makes $22 million per year. That is insane. Plus he sucks as CEO him and Mark Fields are running that company into the ground with their poor decision making. I am a Ford shareholder too, and hate the way these guys run that company they are idiots. What FORD needs, and it is too late now, is TOYOTA management. They plan for 5-10 years down the road, not just for the next quarter like the clowns at the American companies do. To make the shareholders happy. Farley should have gone to clown school with his cousin............... |
|
05-05-2023, 10:15 PM | #18 | |
Senior Member
Join Date: Nov 2018
Location: Farmington MI
Posts: 284
|
Re: Ford pay in 1930?
Quote:
Joe B |
|
05-06-2023, 04:59 AM | #19 | |
BANNED
Join Date: Mar 2022
Location: Chenango Bridge NY
Posts: 433
|
Re: Ford pay in 1930?
Quote:
History and book writers need a hook, a sensational event or ideal about the subject to sell their work. Henry Ford is not treated kindly by those people, people who couldn’t do a fraction of what Ford accomplished. |
|
05-06-2023, 06:21 AM | #20 |
Senior Member
Join Date: Feb 2011
Location: NNNNNNNNJJJJJJJJJJ
Posts: 6,796
|
Re: Ford pay in 1930?
all interesting facts.......
what henry did at the beginning of his tenure, was to allow Americans to buy cars, due to his high pay. Packard employees were making half of what Henry paid, for example and thus, everyone enjoyed working for ford and Im sure, did what they were told. Henry created much more then cars, a higher standard of living for many citizens. |
|
|
Sponsored Links (Register now to hide all advertisements) |
|