Do these salary figures include the earnings some of the employees, including the CEO, receive from the ESOP or Employee Stock Options Programme? Apple stock is a gold mine that keeps minting, if the stock value and the dividend is not included in these calculations then it may not be giving the full picture.
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Tim Cook's Compensation Was Comparatively Modest Among Highest-Paid CEOs of 2020
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Bulk of employees work retail on the shop floor. That skews the number down to 57K. The article should separate retail employees from Spaceship employees and then average for each.
The job of a ceo isn't to maximize profits. That's putting money before customers. CEOs who did that; e.g. Bernie Madoff, Enron found their companies on the wrong side of everything.
A CEO does have fiduciary responsibility but their main job is to ensure the company is delivering the appropriate services to their customers. From services revenue follows. The owners of the company are the stockholders and part of the job of the ceo is to ensure the company is financially viable.
Denise Coates is the owner and founder of Bet365 why shouldn't she take that much as salary?
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They're certainly not factoring in stocks if they're saying Tesla's Elon Musk made $0.
I think the most surprising part here is how uncommon it is to have a CEO's pay package be entirely stock. I'm under the impression that that's how Steve Jobs was paid - am I wrong?
I understand that some CEOs have mortgages and whatnot that they need to pay, so it makes sense to give them some salary, but I think most of them are set for life and could reasonably retire without receiving another cent. It seems like all the people so fiscally secure could afford the high risk/high reward of receiving nothing but stocks as compensation.
Interesting that the median value is $57K I thought.
Also interesting that people think he's worth that much, it's odd how we all value things. If your tax was going to go up by a couple of dollars, (or pounds or whatever), a year to provide extra money for nurses I suspect there would be pushback. Don't mind contributing thousands to a CEOs pay by grabbing the latest phone though.
Sure, she should take that much, and she should be taxed to hell beyond $100 million.
Yes but, think of how many MORE of the entry level employees there are. I worked at Apple retail for about three years, I left just over seven years ago. I was making just under $20/hr, FT, I passed 40k with overtime. For retail, starting 10 years ago, that wasn’t too bad at all.
How about they pay employees more and not raise their prices? It’s not like Apple is losing money. They seem to be making more and more profit every quarter, yet average people are making less and less. If a companies profits go up, the CEO/stock holder profits go up, why shouldn’t all their employees profits go up?
It took me 10 seconds to learn that Tim Cook was born on November 1st, 1960, making him 60 years old. Come on, people, at least try.
Though North America has a significant issue with pay gap that will need to be dealt with one way or another Tim Cook is neither the creator of the issue nor the biggest beneficiary. Unfortunately his compensation actually represents the more moderate end of the spectrum which simply makes it more clear how big the problem is overall.
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It really is sad, a friend of mine left Apple as an electrical engineer because they didn’t pay well enough for him to even afford living in the area for the long term. They paid him better than his previous job but not by much, and definitely not enough considering it’s Apple.
M1? Apple Watch? iPhone 12? Literally every single product is a vast improvement in speed and efficiency since he started running the company. The stock is waaaay more valuable as a reflection of this. I'm no Tim Apple fanboy, and people may disagree with his politics, but he has undeniably and objectively done a good job running this company. By every metric.
As long as you can put food on the table, a roof over your head, and have enough left over to improve yourself, good for you. I just hate hearing companies like Walmart where the company makes billions in profits, the CEO/owners makes millions, if not billions, yet the bottom workers are on food stamps. Heck, I think I heard a while ago that Walmart had to hold a fundraiser just to help its lowest employees. I'm sorry, but that's just wrong, IMO
It pisses me off when people say "Minimum wage for minimum skills," and "Take classes to gain skills to get more money," but costs like rent, food, and school tuition rise faster than their wages. How the hell are people to gain skills when they work 3 jobs to barely put food on the table. and don't have time to take classes? Yes, some people are lazy, but other people have the willingness to work & learn, but not the ability.
Denise Coates, her brother and her father paid a combined £573 million in personal income tax last year, which funnily enough is 94 times more tax than Apple paid on ALL UK sales.
well...Tim Cook would have increased his salary if he needed it. if you are way more richer than what you require, what's the point of the extra money??
Actually it doesn't, you are confusing median with mean. The median is the amount so that half the employees are paid more and half are paid less, it doesn't matter by how much.
Apple user through and through, but Tim Cook was never the driving force behind Apple. He inherited others good work, such as Steve Jobs.
Tim Cook would not even figure as a star in Apple's history in my opinion.
If anything he's been more interested in the glitz than the product.
Tim Cook would not even figure as a star in Apple's history in my opinion.
If anything he's been more interested in the glitz than the product.
Still holds true for median. Like if salaries were $1, $2, $5, $10, $15 $100, and $1,000, with the latter 2 being executives. The median is $10. I originally said if we get rid of the executives, it'll go down. So now we just have just $1, $2, $5, $10, and $15. The median now is $5.
Who do you think moved those iPods and iPhones and iPads all over the globe so quickly and efficiently?
He's been a fantastic CEO. And this is coming from someone who doesn't care for him personally.
I agree. Steve brought a lot of "Wow!" products when he came back in the mid/late-'90s. The iMac, iPod, iPhone, and iPad. There hasn't really been any really "Wow!" products under Tim, IMO. Yes, Tim's a great operations/supply chain, but doesn't have the same drive, marketing, showman-quality Steve had.
This seems so out of touch. Literally states "Cook's pay only increased by 28 percent," when most people are lucky to get a 3% raise for cost of living increases.
3% of 57k = $1710 / 52 weeks = $32 a week raise.
by comparison...
28% of 14,000,000 = 3,920,000 / 52 = 75,384 a week raise.
Tim's weekly raise was more than that of his average employee's total annual salary.
This doesn't even take into consideration his hundreds of millions of dollars of stock.
Modesty does not apply.
3% of 57k = $1710 / 52 weeks = $32 a week raise.
by comparison...
28% of 14,000,000 = 3,920,000 / 52 = 75,384 a week raise.
Tim's weekly raise was more than that of his average employee's total annual salary.
This doesn't even take into consideration his hundreds of millions of dollars of stock.
Modesty does not apply.
In its annual ranking of CEO pay and compensation, the Wall Street Journal revealed that Tim Cook earned $14,769,259 last year, which is only slightly more than the median $13.4 million pay across the Standard and Poor's 500 (S&P 500) index. The Wall Street Journal also noted that Apple's median employee pay is $57,783.
Apple tops the entire S&P 500 with its value exceeding more than two trillion dollars, so it is surprising that Cook's pay is comparatively modest. Cook's pay rank is the 171st highest out of the S&P 500 CEOs, even though Apple makes up six percent of the entire index.
An increasing number of CEO compensation packages are tied to stocks as boards look to tie executive pay to the fortunes of company shareholders. Although Apple's one-year return for shareholders was 109 percent in 2020, Cook's pay only increased by 28 percent.
Over the course of 2020, Cook's net worth climbed to over one billion dollars, according to calculations from Bloomberg.
The highest-paid CEO was Paycom Software's Chad Richison, who earned more than $200 million. Seven CEOs were given compensation valued at more than $50 million last year, compared with just two in 2019 and three in 2018. Twenty-four S&P 500 CEOs made less than five million dollars last year, including Tesla's Elon Musk, who reported zero pay, and Twitter's Jack Dorsey, who earned just $1.40.
Article Link: Tim Cook's Compensation Was Comparatively Modest Among Highest-Paid CEOs of 2020
Executive salaries should be high. Of course, they should also be taking a lot more risk. Lawsuits should be paid out of the executive's pockets, as should jail time. Hold them accountable but pay them reasonably for taking on the risk.