Unit 4 ： Pay

UNIT OBJECTIVEUNIT OBJECTIVE

Reading ： The rewards of failure Language: Present perfect and past simple Vocabulary: Jobs Career skills: Evaluating performance Culture at work: Fixed objectives or flexiblity? Dilemma & Decision: Success at what price?

Focus of Unit

This unit looks at pay, specially executive pay. A topical question is whether top managers and directors deserve the lavish pay packages they are awarded. This is a particularly relevant issue since the gap between executives’ pay and that of factory-floor workers has widened in rich countries over the past two decades.

KeynotesKeynotes

What do you think the picture represents? Focus of the unit: a top manager who

receives a huge pay package and bonuses

PreviewPreview Brad Jefferson Age: 35 Position: CEO Car: BMW 740 Salary: $3 million per year plus

bonus Hours worked: 60-80 hours per week Anne Lee Chang Age: 32 Position: senior manager Car: Jaguar Salary: $3 million Hours worked: 60 hours on average

Reading 2Reading 2

1 b 2 b 3 c 4 b 5 a

Vocabulary 1Vocabulary 1

1 criticism 2 bonus 3 reject

4 legal action 5 advise 6 pension

7 competition 8 make a fuss

Vocabulary 2Vocabulary 2 step down call off (Type 2 – needs an object) call on (Type 2 – needs an object) look after (Type 2 – needs an object) broke down go under (=fail / go bankrupt) get ahead set up (Type 2 – needs an object) pointed out (needs an object)

Listening 1 - 1Listening 1 - 1

Total compensation: $ 116,683,000 per year Share value: $111,050,000 Salary and bonuses: $5,530,000 Other payments: $250,000

Practice 2Practice 2

2 lost 3 has appeared 4 has taken

5 was 6 earned 7 has worked

8 threatened 9 caused 10 started

11 left 12 asked 13 contributed

14 wanted

Listening 1- 2Listening 1- 2

1. They were intended to motivate managers by making them part-owners of the company.

2. Markets fluctuate, affecting share prices.

3. By encouraging market fluctuations in order to benefit by selling their shares before the market falls.

.

4.By earning salary increases and bonuses if they meet their objectives.

5. They could also earn salary increases or bonuses only if objectives were met.

6. Based on real increases in company performance (not just on increases in share price, which may be attribute to the market).

Practice 1 Practice 1

Finished time: ago, yesterday, in 2005, on Tuesday, last week, 8 April

Unfinished time: this, never, ever, the last few, since, recently, today, yet, already

NB: FOR is normally used to refer to unfinished time but it can also be used to refer to finished time.