“people in a hierarchy tend to rise to “a level of respective incompetence”: employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not necessarily translate to another.”
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Unless you are born rich. Then you get the top level jobs because of what school you went to and who you know. On average upper level executives are a random sampling of the population in ability.
So the top paid millionaires of a multinational company employing tens of thousands can be incompetent at every level.
The richer you are, the further up you start.
