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Apple Executives Receive Stock Worth Up to $22 Million as RSUs Vest
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Why in the world is Dan Riccio getting anything?
Hardware Engineering.
Last 6 months of hardware updates - “lets add pencil support for the most average iPad”.
$22 million worth.
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Hardware Engineering.
Last 6 months of hardware updates - “lets add pencil support for the most average iPad”.
$22 million worth.
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LOL soooo true
What a salty comment. They are paying them this much in order to keep them. Highly skilled managers are in demand and will be snatched if not compensated sufficiently.
Supply and demand. The board/shareholders could change their compensation if they wanted to but judging from the profit Apple generated the compensation is not even a drop in a bucket.
I can’t speak for these execs, but if you think Eddie Cue works harder than most under him, I suspect you’d be wrong. Plenty of people could replace Eddie without hesitation. I’ve sat in on meetings with my company’s C-level executives... most are simply *lucky*, more than anything else. Some are good managers, others are just always in the right place at the right time. That’s not even my perspective, it’s my vice president’s (and he makes a fortune).
I know that the directors of my company at 1/8th the salary work harder, and the engineers at 1/20th the salary even harder still — we’ve created a 1% bubble in the US with kingdoms and serfdoms like the old world, except the serfs are software engineers at $140,000 and the Chief Technology officer (who takes 8 weeks off per year, does a few 30 minute speeches per year and otherwise sits in on high level meetings making consulted decisions) is at $2 million/year with $20 million of stock bonuses - it didn’t have to be that way.
Yep they hit there goals alright "Buggy Operating Systems, Clickety Clack Keyboards, Lack of Ports" and the list goes on. Not one of them is worth what there paycheck / stock options are.
They should have a change of command starting from Cook down, mandatory retirement here's you final check and oh by the way we're going to take back 3/4 of your stock options and benefits.
I think Scott Fortsall should be pictured too with reward just for good measure, I loved iOS 6 music app.
Another person who knows nothing about what they do, yet claims they do. I find the arrogance in this thread astounding.
Too funny.
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It can't. It can mask issues, make one appear as they are not, and make it easier to apply bandaids to self inflicted wounds. I know a few extremely wealthy people (i'm not one) who spend the majority of their time wondering if they are liked for who they are, or for their wealth. Most are in constant internal conflict. One the other hand, I would not mind a new GT 3.
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I'll wager Scott sleeps a great deal better than any of these people.
I bet if you played and won a $22M lottery you'd give the majority away. The idea of how much money a person "deserves" or "should have" is always determined by those with less.
Well as money is destroyed instantly (ala the drop in FANG stocks), somehow this was also created out of seemingly thin air...
How can you say that when my CEO (who clears $35 million a year) and his senior staff, determines the salaries for just about everyone in his company? The idea of how much money a person "deserves" or "should have" is always determined by the richest... generally speaking.
I’m not disagreeing with your observations but I am supplementing them with some of mine so it doesn’t seem so hopeless.
Don’t forget the software engineers if they are willing to put the effort and teamwork in, know when to shove their egos aside at the right time and demonstrate the ability to manage people and understand and interface with the business side can become the CTO’s and above. And these skills can be learned. If one is willing and watches and learns from good mentors, much is possible.
I’m married to a man who has done just that. We met at the end of our teen years and went through University together and started with nothing and asked for nothing. Just living within our means no matter how spare and working with the attitude that the world owes us nothing but a kick in the butt.
My husband put in years of hard work and initiative from a starting tech support position. He was just the dude on the phone dealing with customers. From that point he could have gone down, up, or coasted on bitterness at the rough treatment.
If he saw a need in the company he filled it without being asked to. He created his own opportunities. I did this in my career as well, when I had one. Its what you do if you want to leave your poor crime infested neighborhoods.
The young devs and even middle aged new hires of our generation come in and see the privileges he enjoys now and think that was all just handed to him and they want raises and promotions after being on the job for only a year, but kick up a toddler tantrum when they’re asked why they spend company time surfing YouTube instead of fixing issues even after they’ve been asked to. Or they whine about missing dinner and don’t stay late when a problem arises and the senior manager teams and executives, which still include my husband and all the people who have already proven themselves, will still stay late and pore through the code these people mucked up. Though sometimes it’s not the young guns.
There are plenty of middle aged workers stuck in their careers and they blame everyone and everything for holding them back, when they keep ignoring reviews that tell them they’re not spending their work time wisely. Or they fail to manage properly or work well in teams when needed and should attend career building programs. Or they’re rude and dismissive of the business side.
Yes there most definitely are cunning opportunitists who do get to high levels on the backs of their workers or through political machinations and don’t deserve the credits and benefits. They’re scummy human beings. But we can’t assume this is always the case or that upward mobility through decency and hardwork and smart work is impossible or rarely happens.
And my husband has seen many of these opportunists get their karma. They tend to flame out spectacularly in their business and personal lives. There’s only so much scum your bosses, coworkers, spouses and children can take.
There’s also nothing wrong with staying at a certain level of output. When you climb to those higher levels the commitments and stress will eat you alive. There’s a reason though Apple is fitness oriented that people like Jony and Eddy have the gut. Some of it is age and metabolism. Some of it is there are so many demands on their time there isn’t time to work out or even keep up with doctors appointments.
Apple in particular was once known for demanding harsh personal sacrifices of its employees. Or rather, Steve Jobs was. When we laud Apple’s past greatness, we’d do well to remember the price all of Apple’s people paid for it. Even Steve himself.
We don’t really know what Eddy Cue has gone through. He’s an easy target now because he does come across as a...I’ll just leave it there.
No doubt there are plenty of executives who made the sacrifices and poured blood/sweat and tears into their careers, but just as many that mostly Forrest Gumped their way to the highest level of (in)competence they could muster and pretty much coast on gigantic salaries.
Some of the cleverer ones randomly switching from CIO to CTO to C?O at neighboring local firms and then shuffling back and forth every few years until early retirement.
Systemically, in corporate America but Silicon Valley especially, we've got a 90/10 income divide where flawed humans that all eat/breathe/sleep do similar levels of work with similar levels of education and may assume similar levels of stress, yet some earn 2-20 times as much because they took slightly different turns at the forks in the road. Too often, luck is the determining factor. We have one C-level executive who burned bridges with 15 other VPs/directors and stepped on their necks to get where she needed to get - slept with someone's husband too... it's ugly business but I'm not sure if that keeps her up at night in her $7 million beach front home, or if it's the 20 year old pool guy doing that.
Actually much more.
Apple sells something like 300B per year.
A 10% difference is worth thirty billions.
Can we agree on the fact that there can be a 10% difference in a company due to better or worse management?
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Has it ever occurred to you that hardware that ships today started being developed years ago?
The only goal stated to receive this reward was that they didn’t leave the company. Hardly a difficult goal to achieve.
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Rewards should be based on personal performance not the share price.
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Well it should be because I’m a customer. They should be judged on how well they do their job and customer satisfaction rather than the views of greedy shareholders.
[doublepost=1522887104][/doublepost][QUOTE="az431, post: 25952898, m[/doublepost]
The stock has more than doubled in the four years since the awards were made. Not enough for you?[/QUOTE]
I could care less what the share price has done. I’m only interested in what products they shipped and if they were any good or not. The share price is an irrelevant freak show.
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Please tell me what has Craig done to deserve even $1 much less any millions of dollars or stocks. Emoji presentation, iOS bugs in 10, sky rocketing in iOS 11 the HomePod ... waiting for iMessages in iCloud and yet NO mention of Apple Watch even receiving this feature. Please tell me.
Let's look at what OSX became (ahem MacOS) under his watch vs Bertrand Serlet, or iOS under Forstall (bringing the beef and 1 screwup, intensions where in the right place with Maps). Little features versus real core system improvements .. take your pick.
While I agree that these salaries are obscene in a country with huge levels of poverty and national debt such as the US, I think it’s fair to say that most comments on here are based upon keynote performances rather than any understanding of what these people actually do the rest of the time. Cue is pretty bad in the keynotes, but none of us know what goes on behind the scenes. He could be the glue holding things together for all we know; presenting is just not his strength.
In what world does Eddie Cue deserve more money than Craig Federighi?
Eddie’s the head of internet services - iTunes, Apple Maps, Apple Music, and (until recently), Siri. These are literally all the worst things about Apple. He did such a terrible job with Siri, they recently pulled it away from him and gave Siri to Craig in the hopes he will fix it. He seems like a huge tool and I can’t think of a single good thing he’s ever done for the company. I hope he leaves or they fire him - the company will be better off for it.
Craig is the head of the computer software / engineering department - in a technology company, these guys should (always) be paid the most as they are the most critical to the companies success.
Eddie’s the head of internet services - iTunes, Apple Maps, Apple Music, and (until recently), Siri. These are literally all the worst things about Apple. He did such a terrible job with Siri, they recently pulled it away from him and gave Siri to Craig in the hopes he will fix it. He seems like a huge tool and I can’t think of a single good thing he’s ever done for the company. I hope he leaves or they fire him - the company will be better off for it.
Craig is the head of the computer software / engineering department - in a technology company, these guys should (always) be paid the most as they are the most critical to the companies success.