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Apple's Tim Cook banked $74M in 2013, topping all but one S&P 500 tech CEO

post #1 of 40
Thread Starter 
Apple Chief Executive Tim Cook took home $4.3 million in salary and incentives in 2013 and added another $69.6 million in vested stock options, continuing his reign as one of the highest-paid executives in Silicon Valley.

Tim Cook


Cook's $73.9 million windfall outpaced the $17.6 million collected by HP's Meg Whitman, Silicon Valley's third-place finisher, according to USA Today. Neither CEO stood a chance against Facebook chief Mark Zuckerberg's $3.9 billion payday, however, after the college dropout cashed in $3.3 billion worth of stock options.

The numbers change slightly when excluding stock options and grants from the calculation. Using only salary figures, Cook's $1.4 million handily beat out both Whitman and Zuckerberg, who took home just $1 each in 2013. Whitman also received a $260,000 performance bonus.

Though it would be exceptionally difficult to argue that Cook is overpaid -- Apple has recorded the best financial performances in its history under his watch -- some believe that lavish compensation packages such as his may come under pressure as the pay gap between top executives and everyday workers continues to widen.

"The extremes are getting bigger and run smack dab into the debate of income inequality," compensation consultant Alan Johnson told the publication. "Boards are quite concerned over how executive compensation will be perceived."

Johnson argues that boards should not shy away from large executive paydays just for image reasons, however. Instead, compensation should be set commensurate with the amount of shareholder value the executive creates.

By that measure, Cook should be paid even more.

Whitman took home approximately $3.4 million for every $1 billion in net income her company booked in 2013, while Zuckerberg brought in about $2.2 billion by the same formula. Cook, however, banked just $2 million.
post #2 of 40
Cue the "CEOs are overpaid" and "share the wealth" trolls.

Proud AAPL stock owner.

 

GOA

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Proud AAPL stock owner.

 

GOA

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post #3 of 40
Haters gonna hate.

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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post #4 of 40
Quote:
"The extremes are getting bigger and run smack dab into the debate of income inequality," 

Nonsense.

post #5 of 40

I rarely (if ever) say anything to this level for a CEO since most are overpaid sloths that do nothing but milk companies dry, but Tim Cook?? That man has earned every single penny.  Keep up the good work!

post #6 of 40
How does this constitute Apple news? I couldn't care less how much money Tim Cook made, let alone anyone else.
post #7 of 40
Quote:
Originally Posted by SpamSandwich View Post

Cue the "CEOs are overpaid" and "share the wealth" trolls.

They should all be like this guy.

http://www.autonews.com/article/20130624/OEM02/130629943?template=mobile&X-IgnoreUserAgent=1
"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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post #8 of 40
Oracle isn't in the S&P 500?
post #9 of 40
Quote:
Originally Posted by sflocal View Post

I rarely (if ever) say anything to this level for a CEO since most are overpaid sloths that do nothing but milk companies dry, but Tim Cook?? That man has earned every single penny.  Keep up the good work!

Agreed, and I can't argue much with stock option salaries either. Company does well then you'll be rewarded with a favorable stock price.
"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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"Few things are harder to put up with than the annoyance of a good example" Mark Twain
"Just because something is deemed the law doesn't make it just" - SolipsismX
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post #10 of 40
Tim deserves every penny. As far as income equality and Apple go, they need to do a better job when it comes to retaining people in their retail stores that have been there for five years or more. These are people that are good at what they do and either realize they can get paid more elsewhere with their experience or get recruited by other employers.
post #11 of 40

The salary, sans his bonus from stock, is reasonable.

 

His entire stock value was predicated on performance and thus he either produces results or does not. He's not guaranteed those options, irregardless of company performance, unless so many Fortune 1000 CEOs.

post #12 of 40
Quote:
Originally Posted by mutoneon View Post

How does this constitute Apple news? I couldn't care less how much money Tim Cook made, let alone anyone else.

AI posted this just to get a reaction out of Constable Odo. Watch what happens next. 1smile.gif

"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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"Apple should pull the plug on the iPhone."

John C. Dvorak, 2007
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post #13 of 40
Quote:
Originally Posted by Suddenly Newton View Post

AI posted this just to get a reaction out of Constable Odo. Watch what happens next. 1smile.gif

Nah, this is too direct. Odo spews his nonsense on every other post.
post #14 of 40
And why not. I mean the stock has done spectacular as the company flatlines revenues the last couple years. Why shouldn't he make 70 million. BTW when those vested did he hold any of them? In the past all top apple execs dump their stock. They have no interest in holding onto any of it. They (the top tier executives) even rejected a shareholder proposal requiring them to hold onto significant amount of apple stock. Wonder why?

They all have 10's if not 100's of millions in cash from previously dumped stock. Why not hold some new vested shares with the future so bright? Or do they not see the future so bright...
post #15 of 40
Quote:
Originally Posted by SpamSandwich View Post

Cue the "CEOs are overpaid" and "share the wealth" trolls.

 

Nah, they'll be silent.  That was my first thought.  Where is Obama.  Where is Harry Reid?  Where is Pelosi?  Where is Schumer?  Durbin?  Where are all the "progressives" who rail against executive compensation?  Oh wait...it doesn't count because Apple's corporate culture is in agreement with their politics.  

I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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I can only please one person per day.  Today is not your day.  Tomorrow doesn't look good either.  
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post #16 of 40
Quote:
Originally Posted by mutoneon View Post

How does this constitute Apple news? I couldn't care less how much money Tim Cook made, let alone anyone else.

Please forward your approved Apple articles list asap to Apple Insider so they can get this fixed right away

Help! I'm trapped in a white dungeon of amazing precision and impeccable tolerances!

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Help! I'm trapped in a white dungeon of amazing precision and impeccable tolerances!

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post #17 of 40
No singe person does work that warrants such pay.

And don't call Obama progressive. Corporate, maybe...
post #18 of 40
I'm conflicted. My brain's left hemisphere thinks it's obscene that anyone can get paid that amount my right side knows with Tim Cook it's worth every penny.

I'll think I'll have to revise it to it's obscene when bad CEO's get paid that amount.
post #19 of 40
Quote:
By that measure, Cook should be paid even more.

Is that based on the renowned scientific Zuckerberg/Whitman metric?
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #20 of 40
Quote:
Originally Posted by mutoneon View Post

How does this constitute Apple news? I couldn't care less how much money Tim Cook made, let alone anyone else.

 

What are you talking about?:no:

 

This is an Apple centric site frequented by many Apple shareholders. Of course this is news that is relevant to all those who don't live in a cave.

post #21 of 40
Originally Posted by dysamoria View Post
No singe person does work that warrants such pay.

 

Thanks for letting us know that you have the right to tell others how much money they can make.

 

I now appoint myself as the one who tells you whether or not your beliefs have any worth whatsoever. Guess the verdict.

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
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Originally posted by Relic

...those little naked weirdos are going to get me investigated.
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post #22 of 40

In my opinion, the guy earns every fucking penny. He's a well known workaholic, starts his day at 3:30am, lives for the company (he has no family that I know of) and compared to the revenues and profits that Apple pulls in, his salary is a drop in the bucket. Also, his salary is only 4.5M, the rest are stock options, which means he's highly incentivised. When Apple can pull in close to 40 billion in revenues in one quarter (or $40,000 Million to put it into perspective) I have no problem at all with his compensation. It's pretty irrelevant, and it's not like it's a number that he dictates.

 

Where I DO have a problem is when CEO's of companies who are bleeding money, or about to go bankrupt, pull in tens of millions then get an even larger golden parachute. People like Cook should be compensated accordingly. 

post #23 of 40
Quote:
Originally Posted by Suddenly Newton View Post


AI posted this just to get a reaction out of Constable Odo. Watch what happens next. 1smile.gif

OMG!  Don't get me started.  I've already put an icebag on my head after hearing this.  Must... cool... down...

 

This is the reason why Tim Cook smiles after every earnings call and says everything is just peachy dandy.

post #24 of 40

The money saved from the anti-poaching agreements which suppressed employee wages has got to go somewhere.

post #25 of 40
If you understand what Apple really is I think you'd agree that while Tim probably isn't unhappy about the money, what makes him happy is succeeding at creating the best products possible that are useful to people.

 

My favorite part about the 'income inequality' complaint is the convenient omission of the 'who-creates-more-value-inequality' reality that goes with it.  It's easy to be ornery at the rich and mistakenly believe they don't deserve it.  It's also easy to not work as hard or smart as they do.

 

If someone creates value they should be compensated for it 1:1.  Otherwise you disincentivise creating value.  Ask any of several failed socio-economical systems of the past how that works out.

 

(I do have to point out that I'm not for cronyism and monopolies and unions and pretty much anything else that stands in the way of opportunity, hard work, and just compensation commensurate with hard work.)

post #26 of 40
Quote:
Originally Posted by Suddenly Newton View Post


AI posted this just to get a reaction out of Constable Odo. Watch what happens next. 1smile.gif

I was thinking exactly the same thing. If this thread suddenly takes on a pungent aroma, it'll be Odo's bowels hemorrhaging.

 

... Oops ... too late. Must be leaking right around his Depends ...

I admit to being a Fanatical Moderate. I Disdain the Inane. Vyizderzominymororzizazizdenderizorziz?

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I admit to being a Fanatical Moderate. I Disdain the Inane. Vyizderzominymororzizazizdenderizorziz?

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post #27 of 40
I wonder if Tim would work for Apple regardless of pay?
Yes these pay packets are rediculous, but it's an industry wide problem and nothing specific to Apple. I agree that Tim had done a great job but, salaries of $70M? C'mon people this is just rediculous.
post #28 of 40
In other news...
post #29 of 40
Yeah....because they don't tell anyone else how much they can earn...
post #30 of 40

Apple's (RED) contributions in fight against HIV/AIDS reach $70 million to date.
Apple's Tim Cook banked $74 million in 2013.

 

While I have no real issue with Tim Cook's wage, and sincerely applaud their charitable contributions, seeing these two headlines next to each other is a bit disturbing.

post #31 of 40
Originally Posted by bananafoot View Post

While I have no real issue with Tim Cook's wage, and sincerely applaud their charitable contributions, seeing these two headlines next to each other is a bit disturbing.

 

Not really.

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
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Originally posted by Relic

...those little naked weirdos are going to get me investigated.
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post #32 of 40
All that matters is whether the shareholders think they are getting value for money. They're the ones paying Cook. If someone else can generate the same or better returns for cheaper (while stewarding the company the way that is acceptable to the shareholders) then that's the math they need to look at.
post #33 of 40
Quote:
Originally Posted by bananafoot View Post
 

Apple's (RED) contributions in fight against HIV/AIDS reach $70 million to date.
Apple's Tim Cook banked $74 million in 2013.

 

While I have no real issue with Tim Cook's wage, and sincerely applaud their charitable contributions, seeing these two headlines next to each other is a bit disturbing.

 

If Apple were a charity then I would be equally disturbed.  Considering that they aren't, I fail to see the problem when comparing those two figures.  Apple donating $70 million is more then most entities will come close to donating.

post #34 of 40
Quote:
Originally Posted by GadgetCanadaV2 View Post
 

Please forward your approved Apple articles list asap to Apple Insider so they can get this fixed right away

Chuckle-worthy!

iPad a Dream.
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iPad a Dream.
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post #35 of 40
So, will Cook print and distribute similar shares for the people in the stores or in the factories which made him rich?

No.

"All animals are equal, but some animals are more equal than others..."
post #36 of 40
Originally Posted by befuddled View Post
So, will Cook print and distribute similar shares for the people in the stores or in the factories which made him rich? No.

 

Shut up.

 
“All animals are equal…

 

Who said that? That’s utter nonsense.

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
Reply

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
Reply
post #37 of 40

Spread the love.

post #38 of 40

Spread that love! ;-)

post #39 of 40
Quote:
Originally Posted by Tallest Skil View Post

Shut up.

Who said that? That’s utter nonsense.

George Orwell, I think, in Animal Farm.
iPad a Dream.
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iPad a Dream.
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post #40 of 40
Originally Posted by Benjamin Frost View Post
George Orwell, I think, in Animal Farm.

 

Now it makes perfect sense, as it’s an analogy using anthropomorphization.

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
Reply

Originally posted by Relic

...those little naked weirdos are going to get me investigated.
Reply
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