Also... look at the increase of the number of iPhones, iPads, computers, and services sold.
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Tim Cook's Compensation Was Comparatively Modest Among Highest-Paid CEOs of 2020
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Also... look at the increase of the number of iPhones, iPads, computers, and services sold.
If you don't include *all* compensation, stocks included, then the number is meaningless, to me.
Seriously, I don't get the disagreement besides people who are mad about some extra RAM or just plain hate anyone making a lot of money even though in perspective it's quite reasonable.
Not terribly surprised by Tim's salary, nor the average salary of the company.
There are tens-of-thousands of people making six figure compensation packages with Apple. But there are many more times that number working retail, support, operations, warehousing, etc, that would be on the lower end of the spectrum, dragging the overall average way down.
You're just not going to pay the guy or gal going in the back to get your new iPhone @ $65k/yr when it's effectively unskilled labor.
Likewise, the one singular person directly responsible to the board and shareholders? You're going to pay that person well; they're graded on overall results of the company, and the results are good.
Now, I do agree, when a company is not doing well, it's reasonable to pull some of that comp back -- and it does happen sometimes, although probably not as often as it should. Likewise, when a company is in a bad place and brings in a new CEO to try to turn the tide, they'll often have to pay more, because the new CEO is coming directly in to a mess, and may not last long. High risk, high reward.
There are tens-of-thousands of people making six figure compensation packages with Apple. But there are many more times that number working retail, support, operations, warehousing, etc, that would be on the lower end of the spectrum, dragging the overall average way down.
You're just not going to pay the guy or gal going in the back to get your new iPhone @ $65k/yr when it's effectively unskilled labor.
Likewise, the one singular person directly responsible to the board and shareholders? You're going to pay that person well; they're graded on overall results of the company, and the results are good.
Now, I do agree, when a company is not doing well, it's reasonable to pull some of that comp back -- and it does happen sometimes, although probably not as often as it should. Likewise, when a company is in a bad place and brings in a new CEO to try to turn the tide, they'll often have to pay more, because the new CEO is coming directly in to a mess, and may not last long. High risk, high reward.
<shrugs> Dunno, I'd need to see the potential prices alongside the various moral goods such a price increase would bring about.
It's generally not much good asking "how much would you be willing to pay" because in my experience it's usually more than you thought. There was a time when if you asked "would you pay over £1000 for an iPhone?" I'd have said "no chance", but then it happened and I said "weeeeell, alright".
But he's what, 65 already? Hmm... Not saying age should be THE reason to ditch someone as I know so many 90 year olds that are 'sharp as tacks', but still...
"Although Apple's one-year return for shareholders was 109 percent in 2020"
This is just mind boggling.
This is just mind boggling.
It's also very skewed considering you have 1 employee making $14 million/year and the majority of retail employees (probably largest group of employees) are probably not sniffing the median.
It would be like me operating a small business where I pay minimum wage, but pull in a million a year. The median is 80K/year.
"A 90,000$ a year employee could in fact deliver a company millions if not 10s of millions in compensation and they get just a small cut of that"
Find a person with Cook's demonstrated year-after-year track record managing a 147,000 person company with 2020 sales of $275 billion, willing to work for $90K per year.
Apple, as a company, is receiving tremendous value with Cook and his relatively modest salary. His $14 million salary is mice nuts compared to $275 billion in sales.
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I know it is a modest pay compared to other CEOs, but the question is: what percentage he gets annually in stocks? That could reveal new numbers. Probably is not that much of a difference. But some people prefer have more percentage paid in stocks than in cash. Specially if you are the CEO and know what you are doing.
Is it, without job classification breakdowns and locations you cannot make any judgements. It is doubtful that it’s California employees compensation is anywhere near that low. Obviously, any knowledge based critique would say hey that includes a lot of retail employees and , sadly, retail does not pay well. Personally, I would like them to set a higher minimum pay standard. $57k is about 28/hour full time. And who knows how many retail employees are actually full time
If that is an sec filing, it includes the value of stocks and options granted. It of course does not include the value of existing shares, that was also mentioned in the article
Median is not average it is median:
What is the Median?
The median is the middle number in a sorted, ascending or descending, list of numbers and can be more descriptive of that data set than the average.
Apple's employees include retail. The VAST majority, like 90%+ of the employees are nowhere near HQ.
And he was pretty much running Apple during the last two years of Jobs' life, when he was extremely ill.
Never really liked how CEOs' and companies' main/only job is to maximize profits and share price, especially when the company makes billions in profits, yet their lowest employees are on food stamps.
I'm no economist, so take what I'm going to say with a grain of salt: I'd really like to see all employees who are willing to be full time (and if they want to say part time, that's on them), and pay a high enough wage to be able to put a roof over their heads, food on the table, and enough to gain more skills to improve themselves. How often do we hear the housing & tuition costs have risen faster than wages? Plus, I would think that if people like retail workers could hold one full time job to pay the bills, have some time off, instead of needing to work 2-3 jobs, that would translate to them happier and more productive selling products, which leads to more profits for Apple. Plus, it might lead them to stay with the company longer, gain more skills, and get promoted. I find that when people know the inner workings of the company, the better they can do the job.
Tell me your dont know how revenues vs worth works without telling me you don't know how revenues vs worth works.