One of the first people in American business to be paid a salary of a million dollars a year as a professional manager was Charles Schwab.  He was picked by Andrew Carnegie to be the President of United States Steel in 1921 when he was 38 years old.   Why did Andrew Carnegie pay a million dollars a year to Charles Schwab?  

Mostly because of his ability to deal with people. 

What did Charles Schwab have to say about how he effectively dealt with people?

“I consider my ability to arouse enthusiasm among my people the greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement.”

“There is nothing else that so kills the ambitions of a person as criticisms from superiors.  I believe in giving a person incentive to work.  If I like anything, I am hearty in my approval and lavish in my praise.”

Related by Dale Carnegie from a personal conversation he had with Charles Schwab (How to Win Friends and Influence People)