50 million dollars in one match for UFC star McGregor
Nearly 2 weeks ago, the Martial Arts community tuned in to watch the UFC’s most hyped match of the history. The UFC championship bout. Between the undefeated current champion Khabib Nurmagomedov and former lightweight champion Connor McGregor was perhaps UFC’s greatest fight. The much anticipated fight of the year set the record for the largest pay-per-view event in MMA history, having generated approximately 2.5 million buys in the US itself. Therefore giving the biggest UFC paycheck of $50 million dollars for the UFC star in his career.
But it was not the fight for the title itself that stole the show. It was the stars, the personal feud between McGregor and Khabib. And the controversies surrounding it which gave it so much hype. So in celebration of the year’s most popular martial match. We want to show you guys a perspective on the importance of how an hour, or even a second truly means for not just the average joe, but also to big stars and celebrities.
A minimum-wage employee versus Mc Gregor
Every time we hear people discussing about professional fighters. People rarely associate them with an hourly, weekly or monthly age. Everybody knows that they are making money based on per fight that they took. Let’s take a look at McGregor vs Khabib, dubbed as the “biggest fight in UFC history”. MC Gregor’s official payout for the fight was around 3 million dollars. But add that up with his % of a high pay per view that reached a record of 2.4 million dollars and sponsorship, Mc Gregor is expected to earn at least $50 million in total. That basically means, Mc Gregor earns $10m per-round, $2m per-minute and a whopping $33,000 per seconds.
An average Joe’s Minimum Wage in Perspective
The official federal minimum wage set at $7.25 has not changed since 2009. Though many states have independently increased their states minimum wage to $15 like Seattle for example. For someone who is working full time based on the federal minimum wage. Tax excluded, he/she is expected to make at least $15,080 a year. Putting this in perspective, if Mc Gregor was an hourly employee who is expected to work at least 40 hours/week. His hourly rate based on his UFC fight with Khabib alone would be a staggering $26,000. That basically means Mc Gregor would earn a year’s average minimum wage employee of a US Citizen in just half a second after clocking in.
On the contrary, to earn McGregor’s total earnings. A minimum wage employee in the US would need to work for at least 3,300 years. 3,300 years? Curious how long is that? It is a time when even Jesus Christ has not been born yet (2021 – 2024 years ago). An age where humans are still at the earliest stage of civilization. A time, where new cities have just began to developed . Like east of Europe, Mesopotamia in Egypt and Far East of China.
Time theft and Wage Theft, an irony.
While Mc Gregor was celebrating his 50 million earnings from his fight with Khabib. Former restaurant workers in Scale 925, sued T.I, an american rapper, the owner of the restaurant for more than $75,000 in unpaid wages. That number might be small for a UFC star like Mc Gregor. According to a study conducted by the American society of employers. It is estimated that 20% of every dollar earned by a U.S. company is lost to employee theft. Another study even found that time theft costs U.S. employers more than $400 billion/year in lost productivity. Well, that’s a number that even UFC McGregor would think twice.
So what is Time Theft and Wage theft. In simple terms, Time theft occurs when an employee accepts pay for the time that he/she did not put into their work. And Wage theft refers to the term when an employee is denied the wages, salary or benefits that they are entitled to under law. Small Time Theft and Wage theft may often be overlooked by both employers and employees. But it is the seconds, and minutes that actually makes up for the huge amount of losses. Sometimes both of the parties can even unintentionally do it. For example, an employee forgetting to clock in and out of their office. Or an employer who lost their employee’s timesheet. Both ways neither both is helpful or positive to the working environment. No matter how unintentional they might be.
Time is Gold
There is a saying that “Time is Gold”. Whether you are a UFC Star like McGregor or an Average Joe. Time defines a lot of things in this life. And once lost, we can never recover them back. So why make an estimation when you can be exact and sure. Be it from calculating your employees’ working hours, payroll settlement to even settling legal disputes that might rises due to overtime & other factors. That is why we at Albam is here to help you.
This is why to relieve burdens on the management of small business owners. Albam has provided a free Time Attendance/ Shift management App for everyone. With cutting edge features that are tailored for the needs of SMBs, from Time Attendance Management to customizable work schedules. The solution even came in with an optional Albam device that is provided for FREE* (Shipping costs excluded) for Albam’s users. Try it for yourself now, what’s there to wait.
Albam is an all in one Human Resource solution system that allows you to manage every aspect of your staffing needs. From attendance to automated payroll. Backed by cutting-edge cloud computing system, clock in anywhere and anytime to access, personalize and download your data.
Join more than 40,000 corporates that have trusted Albam in more than 20 countries worldwide now. Time attendance & Payroll management has never been this easier.