TVNewser Jobs PRNewser Jobs AgencySpy Jobs SocialTimes Jobs

Sorry, Jim, But You’ll Have To Wait For Your Raise

TheStreet.com has amended founder Jim Cramer‘s contract, reducing his bonus and delaying the salary increase he was supposed to get on 1/1/2010. Now poor “Mad Money” Cramer will be stuck making only $780,000 through the first half of the year. He’ll have to wait until July 1, 2010 to get bumped up to $936,000 per half year or $1,872,000 annually.

Also, his bonus will be only $1.2 million instead of the $1.4 million he was going to get.

PaidContent’s Rafat Ali notes that TheStreet.com has been in cost-cutting mode and this new contract could be a part of their cuts.

It is amazing that delaying this guy’s, uh, 13 percent raise probably lets TheStreet retain five more staffers (we’re just guessing at numbers here). And yes, we know that Mr. Cramer works very hard—look at him! Really, you can’t say this guy isn’t busting his ass. And his vocal chords.

Mediabistro Course

Social Media 201

Social Media 201Starting October 13Social Media 201 picks up where Social Media 101 left off, to provide you with hands-on instruction for gaining likes, followers, retweets, favorites, pins, and engagement. Social media experts will teach you how to make social media marketing work for your bottom line and achieving your business goals. Register now!