Apple retail chief Angela Ahrendts was America's top-paid female executive in 2014
Though she was only an Apple employee for about half of the year, Angela Ahrendts earned nearly $83 million last year, making her the highest paid female executive in America.
The achievement for Apple's retail chief was revealed thanks to data compiled by Bloomberg, which estimated Ahrendts's total compensation for 2014 amounted to $82.6 million. She joined the company in May of last year, with the official title of senior vice president of Retail and Online Stores.
Ahrendts's compensation from Apple was so much that she actually out-earned the highest paid female CEO in America. That distinction is held by Yahoo Chief Executive Marissa Mayer, who was paid $59.1 million.
Mayer actually came in third among U.S. female executives, behind Ahrendts and Oracle Chief Financial Officer Safra Catz. Bloomberg estimates that Catz earned $71.2 million as CFO of Oracle last year. She was later named co-CEO of the company, but that compensation was not used in the 2014 estimates.
Prior to joining Apple, Ahrendts was the CEO of British fashion house Burberry. She was lured to the iPhone maker by what she described as an instant personal connection with CEO Tim Cook.
Since taking over Apple's retail operations, Ahrendts has been responsible for a number of behind-the-scenes changes for the company's hugely successful stores. In particular, she oversaw the roll-out of in-store try-ons for the new Apple Watch, allowing customers to find the style and band that are right for them.
Ahrendts's estimated pay is said to include a sign-on bonus, as well as a make-whole grant for leaving Burberry. The estimated salary is higher than the $73.3 million that Apple formally reported with the U.S. Securities and Exchange Commission in January.
In the SEC filing, Apple disclosed that the bulk of Ahrendts's pay came from a $70 million stock award. Her formal salary was just under $412,000, an amount that was surpassed by a $500,000 bonus.
The achievement for Apple's retail chief was revealed thanks to data compiled by Bloomberg, which estimated Ahrendts's total compensation for 2014 amounted to $82.6 million. She joined the company in May of last year, with the official title of senior vice president of Retail and Online Stores.
Ahrendts's compensation from Apple was so much that she actually out-earned the highest paid female CEO in America. That distinction is held by Yahoo Chief Executive Marissa Mayer, who was paid $59.1 million.
Mayer actually came in third among U.S. female executives, behind Ahrendts and Oracle Chief Financial Officer Safra Catz. Bloomberg estimates that Catz earned $71.2 million as CFO of Oracle last year. She was later named co-CEO of the company, but that compensation was not used in the 2014 estimates.
Prior to joining Apple, Ahrendts was the CEO of British fashion house Burberry. She was lured to the iPhone maker by what she described as an instant personal connection with CEO Tim Cook.
Since taking over Apple's retail operations, Ahrendts has been responsible for a number of behind-the-scenes changes for the company's hugely successful stores. In particular, she oversaw the roll-out of in-store try-ons for the new Apple Watch, allowing customers to find the style and band that are right for them.
Ahrendts's estimated pay is said to include a sign-on bonus, as well as a make-whole grant for leaving Burberry. The estimated salary is higher than the $73.3 million that Apple formally reported with the U.S. Securities and Exchange Commission in January.
In the SEC filing, Apple disclosed that the bulk of Ahrendts's pay came from a $70 million stock award. Her formal salary was just under $412,000, an amount that was surpassed by a $500,000 bonus.
Comments
Good!
Well that is certainly good for her. Congratulations. Now someone tell me how all of us Apple faithful customers have benefited from her very expensive presence?
Contrary to common belief, most executive jobs are not doable by the average person.
Contrary to common belief, most executive jobs are not doable by the average person.
Contrary to common belief most executive jobs are doable for less than 83mil.
For such a generally progressive company, Apple seems oddly unmoved when it comes to wage disparity between worker bees and queens. Save the whales; screw the shrimp?
Contrary to common belief most executive jobs are doable for less than 83mil.
Who cares how much she make or any other executive makes. If that's what the market calls for, that's what is going to be paid. I think it's great that anyone who does the right things can have the opportunity to make that much money. There's a difference between the higher paid people and the lower paid people. It's been like that since the beginning of time and will continue to be like that forever.
Who cares how much she make or any other executive makes. If that's what the market calls for, that's what is going to be paid. I think it's great that anyone who does the right things can have the opportunity to make that much money. There's a difference between the higher paid people and the lower paid people. It's been like that since the begging of time and will continue to be like that forever.
I like the part about begging. Very apropos.
No. Apple was basically buying her out of her Burberry contract so this isn't indicative of what she'll get going forward.
I must be doing something wrong with my life....
Cheer up. It's not your fault that your skills aren't insanely marketable.
Not bad for Apple's third choice! In fashion circles it is known that the job was offered to a couple of others first, one being John Galantic of Chanel. It's likely after being turned down by the others Apple did not want to start from scratch so they gave in to her demand to make her whole ($70M) for leaving Burberry. The only way I see Apple getting their value out of her is if she is able to seperate the regular Apple which will be the stores with normally priced products vs the new luxury Apple stores / brand which will be just like the fashion boutiques on Madison Ave, appointment only, security guards in suits, champagne while you shop, selling high end watches, iPhones, Computers, etc....
Since she got that for six months, we might project that she will get $166 mil for a full year. At the time I retired I was earning about $100,000 a year, and felt very grateful and privileged to get it. Can we say that her contributions to society are 1,660 times greater than mine? Or yours? A question worth pondering.
What part of "one-time signing" bonus and "make-well" grant did you not understand?
And besides that, she is not providing her services "to society", she is providing them to Apple. Apparently, Apple values her skills and services 1,660 times (if we use your logic) more than they value yours. It remains to be seen whether she makes such a difference as to recoup the value. If so, then good for Apple.
I'd expect a better Watch launch from her... overpaid
Hmmm. Not much she could have done given the supply chain issues that we now know about. Can't really have a smooth launch of any kind WITHOUT PRODUCT. Blame whomever else you want, but it wasn't Angela's doing.
I like the part about begging. Very apropos.
Oh, I know right? I know you've never had a typo on a forum that has no relevance to an important thesis or contract. I'll try to do better next time proof-reading my words on my iPhone that I'm typing from quickly. Sorry that I can't be as great as you are.
Well that is certainly good for her. Congratulations. Now someone tell me how all of us Apple faithful customers have benefited from her very expensive presence?
I'll tell you how I have ... thanks to her brilliant ?Watch launch strategy, I have gone to Maxfield LA twice now and bought two 42mm Milanese Watches for $699 each and sold them on eBay already for over $1,400 each, netting me a profit of over $1500. I didn't wait in line more than 30 minutes each trip either. That's better than my stock returns following the launch! I'm thinking about going back and getting a third watch to sell as Mayfield has a steady stream of inventory coming in daily for its walk-in customers ... I can always use another $700 in pocket change. Thank you Angela!
For such a generally progressive company, Apple seems oddly unmoved when it comes to wage disparity between worker bees and queens. Save the whales; screw the shrimp?
Enough of this "wage disparity" whining. If you want more money, go out and earn it. She has.