Money doesn't hurt but to be at Apple is a job most of us would love to do, and I think most do it for the fun, but the money is a very nice side perk
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Apple Executives Dominate Highest-Paid List Among S&P 500 Companies
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Money doesn't hurt but to be at Apple is a job most of us would love to do, and I think most do it for the fun, but the money is a very nice side perk
obviously jc penny after ron johnson and palm os after rubenstein are clear examples of the success these guys can bring.
apple hasnt looked as dry as this for years and if following kickstarter projects is where they are looking for ideas then the people that prefer apple products to the competition might not be as satisfied as we have been accustomed to being but well done to these guys
Jony Ive is going to be pissed when he reads this.
That is interesting. I feel like Ive is one of the three most important people at Apple right now; it's surprising that he's at best only the 5th highest paid employee at Apple.
Tim's compensation is crazy though - if the stock value were around $700 when the first half vests, he'd get nearly $1B from jus that half, with another $1B still coming in 2021.
Ugh. I personally don't care what they make, but middle class compensation in the form of real wages has pretty much flatlined since the late 70s, even as productivity has skyrocketed. Trotting out the old "that's hippy talk" sort of undermines the legitimate discussion of why that's happened before it even starts.
Frankly, I have nothing against them making that much money. Good for them. that said, it also comes on the heels of the THE greatest collapse in market value in the history of business. Apple has lost some $225,000,000,000 in market cap...and the executives at Apple should be somewhat ashamed of same.
"Designed to keep management intact"
Give me a break. They are cashing in on the success they have had. Remember this when you pay your iPhone bill this month.
Give me a break. They are cashing in on the success they have had. Remember this when you pay your iPhone bill this month.
He's not, really. These guys just had their options vest this year. Ive's will vest at some other time, and it will look like he's earning 50x what they are that year. These aren't annual salaries, the numbers come from one-time (or the first of two-time) option vestings, and Ive's just don't happen to fall this year.
The sad part is those who worship money above all else, have no clue what they're missing. Ever been to a funeral of an ultra wealthy person...
Refreshing to see Cook at #1016. He could easily have been in the the top 10.
I'm sure he is, and call me a naive dreamer, but we'd like to think that at least for some of these people, working at one of the world's foremost technology companies, is a labor of love, rather than a ticket to unbridled greed.
For true creative perfectionists, having a hand in creating these great products is a large part of their 'reward'.
I wonder if Cook has $425m in Life insurance in case he dies before the vesting, to protect his estate from an unplanned loss?
Wouldn't stock awards they received also decline in value as the market value of the company dropped? Also how much of this drop is directly correlated to the performance of the executives? Apple generated $41B in net income for FY 2012. That was second only to Exxon whose income for FY 2012 was $44B. Apple seems to be one of the only companies that reports record profits and cash flows and yet their market value drops $200+ billion.
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He's not listed as an executive officer on Apple's SEC filings so they're not required to report any of his compensation.
I'm glad you agree that no one deserves to make that much money.
The inflated "value" of executives is utter nonsense.
My thoughts immediately jumped to Jonny Ive as well but the more I thought about it, I'm not sure he's *that" interested in money. So maybe he *only* gets $25M a year rather than $60M-$80M but if he's happy doing what he's doing and has all the freedom he wants organizationally, the rest has greed stamped on it.
Good thing you are not in charge of Apple. They would lose all of the great people that made the company a success.
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"Designed to keep management intact"
Give me a break. They are cashing in on the success they have had. Remember this when you pay your iPhone bill this month.
I didn't realize that Apple billed you every month for the privilege of owning an iPhone. I know I pay money every month in exchange for wireless connectivity. But Apple doesn't benefit from that.
Jony Ive is going to be pissed when he reads this.
Negative. Since he's listed as a different type of exec, his isn't disclosed. He almost certainly makes as much or more than the others.
I'd say Phil Schiller has done more for the company than a random engineer. Everybody is needed but if the rank and file employees want this pay they they have to stand out exceptionally like these guys.
Are they Worth It?
These guys are totally letting down the people who pay their salary, and yet they get paid more than any other exec with the exception of Ellison?
I expect that this will further drive down the stock price, and further incentivise the Hedge Funds to clean house. I expect that the next shareholder meeting will result in significant changes being made to the Board of Directors, with appointments made that will get rid of these dead weight employees.
Apple exists to make Wall Street rich. If management cannot accomplish that, they should be fired.
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The measure of "success" is the stock price. That is what Apple's owners care about. And these guys are not making Apple successful. They are dropping the ball big time.
They make big bucks while the guys who own the company are losing hundreds of billions of dollars.
They deserve to be fired.
These guys are totally letting down the people who pay their salary, and yet they get paid more than any other exec with the exception of Ellison?
I expect that this will further drive down the stock price, and further incentivise the Hedge Funds to clean house. I expect that the next shareholder meeting will result in significant changes being made to the Board of Directors, with appointments made that will get rid of these dead weight employees.
Apple exists to make Wall Street rich. If management cannot accomplish that, they should be fired.
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The measure of "success" is the stock price. That is what Apple's owners care about. And these guys are not making Apple successful. They are dropping the ball big time.
They make big bucks while the guys who own the company are losing hundreds of billions of dollars.
They deserve to be fired.
No doubt good leadership is worth a premium, but no single individual should be making 300X the engineer writing the actual code.
Record profits and cash flows are in the past. The market value is based upon expected future performance.
If you can understand that, there will be no confusion as to the reasons why they are different.
Bottom line: Wall Street expects that Apple's future profits and cash flows are now worth much less than what they used to be.
Wait till 2016 and 2021 when he gets his RSU stocks. That is unless AAPL stocks don't tank by then.
Please don't shoot me but I think that, although I'm not at all a marxist, this crosses a line. A remuneration of more than 5 mil$ is just ridiculous. All those Foxconn workers work a whole day just to make enough money to survive, and what does Apple? They make sure that Bob and co can make a pool to fill with money, and they overcharge their costumers on most of their products. If I were in their place, I would set up a fund where managers all over the world can freely donate a part of their remuneration, which is then used to solve more critical problems such as extreme poverty, pollution and so on. Unfortunately, most of the people only think about earning more money for themselves instead of caring about the society and our exploited mother earth.
I've no objection to employees earning well if the company they work for is doing well. Rewards for success. However, I wonder if their stock options reflect the 40% fall in Apple's share price over the past 6 months? I doubt it somehow, after all we are only the people who own the freaking company. What do we matter.
PS Is anyone else pisssed that we still haven't seen a single new product this year so far. I have a horrible feeling that when they announce the earnings later this month they are going to miss the analysts estimates again and the share price is going to tank even further into the 300's.
PS Is anyone else pisssed that we still haven't seen a single new product this year so far. I have a horrible feeling that when they announce the earnings later this month they are going to miss the analysts estimates again and the share price is going to tank even further into the 300's.
People who start companies do, if they are successful.
Corporate officers who stack the boards voting on their compensation, do not.
I guess when you are given a million in stock options knocking 40% off the value of the company in 7 months wouldn't really bother him... he will probably knock another 40% off and be rewarded with another million stock options. I really don't like Cook he comes across as very arrogant and is a pretty poor uninspiring speaker. He is meant to be the supply chain king yet the IP5 was plagued by supply constraints. He has no vision for the cash stockpile and hasn't released a new product category since becoming CEO.