You realize why CEOs take a $1 salary, right? They get paid in stock options instead, which are taxed at a lower rate.
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Apple Expands Hiring Freeze, Delays Bonuses for Some Employees
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Apple only has around $50 billions “in the bank” (more details at https://seekingalpha.com/symbol/AAPL/balance-sheet). The often-mentioned trillions are the theoretical value of AAPL shares owned by the shareholders. “Theoretical” because if they would all start selling them, the value would drop immediately.
It's sad how some people seem to not understand that it takes time to get rid of cash on hand. It's not as simple as just throwing money at certain budgets just because you think it can be done. If you simply just grant massive raises across the board, you're setting the precedence for long term costs which probably would be terrible for current times. You can't simply throw money at projects if they don't actually deliver results. Apple's goal for being cash neutral is good, and the fact that we see they're slowly getting there is a good sign too. The cash on hand is useful now as a reserve and battle chest to help weather tough times, but isn't some sort of unlimited fund that people think it is.
People throw on the "stock options" word like they actually understand pay at tech companies. The vast majority of pay at Apple isn't in OPTIONS. It's in grants, so you literally get 100 shares of AAPL at your next paycheck for example.
RSUs are not taxed at a lower rate. They're taxed at ordinary income rates. The capital gains after the grant vests is taxed at a lower rate--at capital gains tax rates. You would be taxed at that same rate if you bought 100 shares of AAPL and you later sold them for a gain. This kind of misinformation shows why average Americans' personal finances are in such terrible shape. This kind of info isn't even rocket science. Just some basic understanding of income and taxes.
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You don't think they are overly paid?
APPLE INC Executive Salaries & Other Compensation
Salary, bonuses, stock options, stock awards and other compensation information for top executives at APPLE INC.
www1.salary.com
Everything is listed pretty much on this report. Check it out!
And he had a private jet from Apple and a bunch of other stuff. He was not at Apple JUST to innovate.
Most of the time statements like these are based on jealousy and resentment of something they themselves don't have.
Most major tech companies are laying off thousands of workers. Comparably, Apple is doing much better. Of course the bar is low and it would have been nice to see Tim take a $1 salary this year.
Literally every company. It’s how they survive
Compared to ALL the other major tech companies laying off thousands of workers… this is nothing.
I’m afraid they get disillusioned and leave before they reach a position where they can move anything substantially. The curse of big companies. Change must come from the top.
You don't think they are overly paid?
View attachment 2173704
APPLE INC Executive Salaries & Other Compensation
Salary, bonuses, stock options, stock awards and other compensation information for top executives at APPLE INC.www1.salary.com
Everything is listed pretty much on this report. Check it out!
Not even close. They pay is related to how big the company is. If they are making more money than they know what to do with, so be it. That isn't for me to decide.
Remember the days when people thought that Apple could buy ABC/Disney or other large companies easy? For the last few years they deliberately reduced their debt by stock buy backs and careful financial management. Thats why Apple's market cap fared so well as this last October 2022 twitter post example shows. Many companies have fared a lot worse then Apple current employee retention.
Can you compare this to all the other major tech companies now?You don't think they are overly paid?
View attachment 2173704
APPLE INC Executive Salaries & Other Compensation
Salary, bonuses, stock options, stock awards and other compensation information for top executives at APPLE INC.www1.salary.com
Everything is listed pretty much on this report. Check it out!
All salary’s are relative to what the market is paying. If Google and Microsoft are paying tens of millions less than Apple - maybe I’d be more inclined to side with you.
Delaying bonuses for employees is some **** when your sitting on Billions and make Billions every quarter. They could easily pay bonuses probably for the next 20 years off just 1 of those Billions!! This is how much Apple cares about its people!
Yeah ... of course.
This is a BAD MOVE holding bonus' back from employees Apple
Your executives are paid FAR too much - screw such news of 40% less salary especially with performance bonus and stock options totaling $50USA ... NOBODY should have their bonus' held!
I'm not impressed Tim Cook.
Resolution:
Stop spending useless work hours and focus on a CAR that is years away. An Electric car you're SUPER late on and that even entrenched manufacturers are LATE on getting started with ahem Toyota.
Give this up. not worth the lawsuits and extra lobbying costs!!
This is always what happens when the Fed tries to slow down the economy. We lose things like bonuses and raises that would have spurred the economy forward, but would also increase inflation. Apple will reverse this when inflation goes back to normal levels and the Fed reduces interest rates. It could be worse. Apple could have over hired and had to do layoffs like the rest of the tech industry that can't seem to predict even a year or two in to the future. At least no Apple geeks will be likely to lose their jobs. They will probably just slow down and shuffle people around as it makes sense. I'm sure they are still filling really important positions that need rare skills.
Apple has cash, but they are also very paranoid about keeping a safety net in case they return to a time of decline like in the 90s. It could take 10 years to get back on track if Apple had a major product category fail. If their stock declines, they will likely use some of that to buy back stock for future bonuses.
Personally, I'd prefer the Fed add a few more tools to their tool belt. For instance, when unemployment is low and inflation is high– like it is right now– you can reduce inflation by increasing immigration. A larger working economy helps with the supply side and reduces inflation, but I guess we hate immigrants... so it is politically difficult. Building more housing can reduce inflation when there is a housing shortage- like we have. A conditional immigration program that would bring more people in to construction trades could help with that. That would be combining two inflation reducing factors without needing to slow the economy. It would be nice if we tried to do a bit more on the supply side before increasing interest rates. Maybe it is inevitable with the degree of government spending these days, but I don't think we did everything we can do. Really low unemployment is a sign the economy might still have some runway left if we can find people to add to the workforce. It is a good time to be a home owner I guess. Despite lowering inflation by slowing the economy, the housing shortage will keep housing inflation high. It just feels dumb because that is a solvable problem.
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Despite tim getting this huge amount of money, he said in an interview that he ll gift all his money to charities - so not necessarily a bad thing after all.
www.macrumors.com
https://amp.theguardian.com/technology/2015/mar/26/tim-cook-apple-donate-800m-fortune-charity
Tim Cook Donates Almost $5M Worth of Apple Shares to Charity
Apple CEO Tim Cook recently donated 23,215 shares of Apple stock to charity, according to a filing with the U.S. Securities and Exchange Commission...
www.macrumors.com
https://amp.theguardian.com/technology/2015/mar/26/tim-cook-apple-donate-800m-fortune-charity
While Meta announces cutting another 10k jobs and freezing hiring for 5k open positions, Apple is definitely in a better spot in spite of this news.
You read that right, folks. Microsoft, which is entangled in or rolling out major new generative AI products, cut its AI ethics team this month.
Been around long enough to know this is business as usual.
Always best to have fun now. There might not be a later and then that tasty carrot dangling in front of you is going to look very unappetising.
I think a lot of people have left the company after COVID. So no new hires also means that there will be more pressure on the employees unfortunately..