For the success Cook has brought to Apple in 2014 I feel Cook's pay is too low, especially when the VP of retail is getting more for the year.
Yeah, it looks odd but I don't think we have the complete picture. My point is that there is something fundamentally wrong (sick) about paying people that much money. Apple is a money machine and the people that run the company deserve respect and honors as well as a decent wage but a million dollars per month, or more, is not right whichever way you look at it. The reality may be that in order to get and retain the best people huge amounts of money is required, but that doesn't make it right at all. Idealism would have that say, 500 k is plenty for anyone and the privilege of working for such an awesome company and the recognition for a job well done, would suffice. Call me crazy but once you earn upward of 500 k a year doesn't the job itself carry more weight? You're still in the über class, after all.
Yeah, it looks odd but I don't think we have the complete picture. My point is that there is something fundamentally wrong (sick) about paying people that much money. Apple is a money machine and the people that run the company deserve respect and honors as well as a decent wage but a million dollars per month, or more, is not right whichever way you look at it. The reality may be that in order to get and retain the best people huge amounts of money is required, but that doesn't make it right at all. Idealism would have that say, 500 k is plenty for anyone and the privilege of working for such an awesome company and the recognition for a job well done, would suffice. Call me crazy but once you earn upward of 500 k a year doesn't the job itself carry more weight? You're still in the über class, after all.
But these people can be paid well at other companies. Perhaps simply working for Apple is their dream so the money doesn't matter, but I'd guess that most would jump ship if Apple wasn't paying them competitively. Supply and demand.
From my experience one of Angela Ahrendt's first moves of removing name tags of employees has completely downgraded the quality of service I get in-store. With no name on display the sellers have no responsibility for what they do because how can you complain about them? I think I could have done better for $70+ million... in fact, most of the people commenting on here could have done!
An equity incentive payment would be shares of AAPL, in the form of common stock, RSUs, stock options, etc.
So why isn't that salary. Is it triggered by certain conditions.
I don't buy this "to get the best executives you pay the highest wages". Apple pays the normal (or below) Silicon Valley wages to get the best engineers because the best want to work there. It's paying out in a class action suit where it illegally held wages down by not competing for non-executives.
Nor do I get that executives are 10 times more efficient than they used to be. None of this makes even free market sense.
Tim Cook deserves what he got paid, since he is the CEO of Apple afterall, but what has that woman, Angela Ahrendts, done to deserve her sum yet?
She doesn't need to do anything.
She's a woman, so she looks good in Tim Cook's all-new politically correct Apple. Ideally, she'd be a lesbian, mixed-race Muslim. I'm sure Cook's working on it; perhaps he'll persuade Iovine to become transgender so as to include those who don't want to be defined by gender. It's all about diversity and multi-culturalism.
Now that Apple are resting on the laurels of Jobs, it's more important that Cook turns Apple into his own pet political project. So far, he's well on his way.
"Holiday expenses" is very likely to mean the cost of hosting holiday parties for employees at his own residence or a site that he rented, or buying holiday gifts for employees, board members, and/or business partners.
It almost certainly doesn't mean just going on vacation or buying Christmas presents for his family.
It might also include costs incurred to continue running the company while travelling on personal vacation time.
She was the CEO of Burberry and turned them around from close to Bankruptcy to massive profitability.
You guys just need to calm down and stop being so jealous about what $ people make.
These salaries are not unsual for top executive pay for MegaCap companies. The top executives at Google/Microsoft made just as much or more money.
I know that she was the CEO of Burberry before, though I'm not that familiar with that company.
I was just wondering what specifically she had done for Apple to warrant such a huge payout? Have the Apple retail stores been redesigned? Do they do anything different in Apple stores now compared to before? Is she heavily involved in the Apple Watch rollout or something, since she comes from the fashion world? I'm just curious, that's all.
That's a TL;DR for me. Any highlights in particular?
Well nothing related to Apple, but she did turn Burberry into a money making machine. E-commerce went up 60% in a single year. Yeah, she likes the new digital world. Her character is similar to Jobs', on more than a few notes,
Much as they all deserve a just reward for their efforts these kind of sums are honestly obscene.
Why? They're making shareholders 40+ billion in profit. Should the shareholders get everything while they get nothing? They're the ones doing the work...
She's a woman, so she looks good in Tim Cook's all-new politically correct Apple. Ideally, she'd be a lesbian, mixed-race Muslim. I'm sure Cook's working on it; perhaps he'll persuade Iovine to become transgender so as to include those who don't want to be defined by gender. It's all about diversity and multi-culturalism.
Now that Apple are resting on the laurels of Jobs, it's more important that Cook turns Apple into his own pet political project. So far, he's well on his way.
This is racist, sexist, xenophobic and homophobic hate speech. You've outdone yourself and everybody else here this time.
She's a woman, so she looks good in Tim Cook's all-new politically correct Apple. Ideally, she'd be a lesbian, mixed-race Muslim. I'm sure Cook's working on it; perhaps he'll persuade Iovine to become transgender so as to include those who don't want to be defined by gender. It's all about diversity and multi-culturalism.
Now that Apple are resting on the laurels of Jobs, it's more important that Cook turns Apple into his own pet political project. So far, he's well on his way.
This is racist, sexist, xenophobic and homophobic hate speech. You've outdone yourself and everybody else here this time.
So why isn't that salary. Is it triggered by certain conditions.
I don't buy this "to get the best executives you pay the highest wages". Apple pays the normal (or below) Silicon Valley wages to get the best engineers because the best want to work there. It's paying out in a class action suit where it illegally held wages down by not competing for non-executives.
Nor do I get that executives are 10 times more efficient than they used to be. None of this makes even free market sense.
Of course.
Companies do this all the time, big and small.
Base salary is not what these people are working for.
The key word is "incentive." They get bonuses for hitting certain revenue targets, or coming under budget for expenses. A business unit manager at a Fortune 500 company is given an enormous budget. Generating forecasted revenue at lower-than-anticipated costs is a good thing.
These incentive plans are written to favor sales over target, but also to penalize for costs over budget.
Engineers generally aren't on incentive-based compensation plans because their work isn't judged by dollars. If you write buggy software, your paycheck won't get dinged, although the QA and tech support people won't be happy with your crapware.
Whether or not American companies compensate senior executives too much vis-a-vis their international peers or even their own employees is a separate discussion. This dichotomy was one of the clear instances of different corporate cultures and environments when Daimler-Benz had their disastrous merger with Chrysler, as the Daimler execs were paid far less than their American peers.
Regardless of the value a person may add each year there comes a point where either you are done with money or you have some kind of problem that is being supported by it. Perhaps that problem is drugs or hookers or buying fake friends, but that problem can equally be money.
A friend of mine, now passed, had his neck broken when hit by a car. He got a $1million payout approx. He paid back various costs that accrued during the 10year wait for the courts, bought a house, car and toys and invested approx $250k and retired. The $250k gave him around $500 a week and the rest was reinvested so it could keep providing a CPI matched increase.
These people listed would have high weekly expenses due to location, extra costs created by security and privacy needs (real or imagined) maybe a partner, or children or a sickly mother to help.
After that it's all clothes, haircuts and salad no matter who you are.
Even being dumb with numbers $1mil invested would give a $2,000 a week income; not retired then $2mil invested would get $2,000 a week with tax paid at a 50% rate. None of these people would pay the full tax rate after the accountants tweaked everything. They probably get tax refunds.
So within 2-3 years, with cash income alone ANY of those people could be paying THEMSELVES a wage approaching $2,000 a week FOREVER.
How long have most of these people been working at Apple, 5 years, 10 years, 15 years? They should all be paying themselves north of $10,000 a week by now.
Once you own your home outright, your car outright and your food, medical, gym, transport, communications etc are all paid for by your work. Then what are you doing with $10,000 a week post 50% taxes, food and clothes?!?!?!
My point is
If these people haven't the financial wits of a 29yr old wheelchair bound man with cerebral palsy forced to live under his parents house for 10 years and pretty much smoked, played video games and watched anime then what the **** are they doing running 100 billion dollar companies.
They can't even look after themselves when showered in enough money every 2 years to let them retire and live as the 1% for all eternity.
I mean no disrespect, but sorry, show me why you are actually worth it.. for example, that you do pay your own way and all that annual income feeds directly into charities and things that help others and mean something to you.
Regardless of the value a person may add each year there comes a point where either you are done with money or you have some kind of problem that is being supported by it. Perhaps that problem is drugs or hookers or buying fake friends, but that problem can equally be money.
A friend of mine, now passed, had his neck broken when hit by a car. He got a $1million payout approx. He paid back various costs that accrued during the 10year wait for the courts, bought a house, car and toys and invested approx $250k and retired. The $250k gave him around $500 a week and the rest was reinvested so it could keep providing a CPI matched increase.
These people listed would have high weekly expenses due to location, extra costs created by security and privacy needs (real or imagined) maybe a partner, or children or a sickly mother to help.
After that it's all clothes, haircuts and salad no matter who you are.
Even being dumb with numbers $1mil invested would give a $2,000 a week income; not retired then $2mil invested would get $2,000 a week with tax paid at a 50% rate. None of these people would pay the full tax rate after the accountants tweaked everything. They probably get tax refunds.
So within 2-3 years, with cash income alone ANY of those people could be paying THEMSELVES a wage approaching $2,000 a week FOREVER.
How long have most of these people been working at Apple, 5 years, 10 years, 15 years? They should all be paying themselves north of $10,000 a week by now.
Once you own your home outright, your car outright and your food, medical, gym, transport, communications etc are all paid for by your work. Then what are you doing with $10,000 a week post 50% taxes, food and clothes?!?!?!
My point is
If these people haven't the financial wits of a 29yr old wheelchair bound man with cerebral palsy forced to live under his parents house for 10 years and pretty much smoked, played video games and watched anime then what the **** are they doing running 100 billion dollar companies.
They can't even look after themselves when showered in enough money every 2 years to let them retire and live as the 1% for all eternity.
I mean no disrespect, but sorry, show me why you are actually worth it.. for example, that you do pay your own way and all that annual income feeds directly into charities and things that help others and mean something to you.
Why even concern yourself with such matters? I guarantee there are millionaires here who are thankful for the growth and returns Apple's stock has provided them and they are free to spend (or not spend) their gains as they see fit. Being bitter about someone else's gains will help no one, especially not you.
Comments
What's the non-equity incentive payments?
Those are cash bonuses for reaching certain performance goals. The maximum bonus amount is a percentage of the executive's base salary - now 400%.
But these people can be paid well at other companies. Perhaps simply working for Apple is their dream so the money doesn't matter, but I'd guess that most would jump ship if Apple wasn't paying them competitively. Supply and demand.
From my experience one of Angela Ahrendt's first moves of removing name tags of employees has completely downgraded the quality of service I get in-store. With no name on display the sellers have no responsibility for what they do because how can you complain about them? I think I could have done better for $70+ million... in fact, most of the people commenting on here could have done!
What's the non-equity incentive payments?
Cash.
An equity incentive payment would be shares of AAPL, in the form of capital stock, RSUs, stock options, etc.
So why isn't that salary. Is it triggered by certain conditions.
I don't buy this "to get the best executives you pay the highest wages". Apple pays the normal (or below) Silicon Valley wages to get the best engineers because the best want to work there. It's paying out in a class action suit where it illegally held wages down by not competing for non-executives.
Nor do I get that executives are 10 times more efficient than they used to be. None of this makes even free market sense.
Tim Cook deserves what he got paid, since he is the CEO of Apple afterall, but what has that woman, Angela Ahrendts, done to deserve her sum yet?
She doesn't need to do anything.
She's a woman, so she looks good in Tim Cook's all-new politically correct Apple. Ideally, she'd be a lesbian, mixed-race Muslim. I'm sure Cook's working on it; perhaps he'll persuade Iovine to become transgender so as to include those who don't want to be defined by gender. It's all about diversity and multi-culturalism.
Now that Apple are resting on the laurels of Jobs, it's more important that Cook turns Apple into his own pet political project. So far, he's well on his way.
"Holiday expenses" is very likely to mean the cost of hosting holiday parties for employees at his own residence or a site that he rented, or buying holiday gifts for employees, board members, and/or business partners.
It almost certainly doesn't mean just going on vacation or buying Christmas presents for his family.
It might also include costs incurred to continue running the company while travelling on personal vacation time.
She was the CEO of Burberry and turned them around from close to Bankruptcy to massive profitability.
You guys just need to calm down and stop being so jealous about what $ people make.
These salaries are not unsual for top executive pay for MegaCap companies. The top executives at Google/Microsoft made just as much or more money.
I know that she was the CEO of Burberry before, though I'm not that familiar with that company.
I was just wondering what specifically she had done for Apple to warrant such a huge payout? Have the Apple retail stores been redesigned? Do they do anything different in Apple stores now compared to before? Is she heavily involved in the Apple Watch rollout or something, since she comes from the fashion world? I'm just curious, that's all.
Well nothing related to Apple, but she did turn Burberry into a money making machine. E-commerce went up 60% in a single year. Yeah, she likes the new digital world. Her character is similar to Jobs', on more than a few notes,
Much as they all deserve a just reward for their efforts these kind of sums are honestly obscene.
Why? They're making shareholders 40+ billion in profit. Should the shareholders get everything while they get nothing? They're the ones doing the work...
This is racist, sexist, xenophobic and homophobic hate speech. You've outdone yourself and everybody else here this time.
This is payment for unused vacation time that he didn't take since he was busy running Apple.
"Running Apple Leaves Cook With $56,923 of Unused Vacation Time"
http://www.bloomberg.com/news/2015-01-22/running-apple-leaves-cook-with-56-923-of-unused-vacation-time.html?cmpid=linkedin.company
I have?
Thanks for the compliment!
So why isn't that salary. Is it triggered by certain conditions.
I don't buy this "to get the best executives you pay the highest wages". Apple pays the normal (or below) Silicon Valley wages to get the best engineers because the best want to work there. It's paying out in a class action suit where it illegally held wages down by not competing for non-executives.
Nor do I get that executives are 10 times more efficient than they used to be. None of this makes even free market sense.
Of course.
Companies do this all the time, big and small.
Base salary is not what these people are working for.
The key word is "incentive." They get bonuses for hitting certain revenue targets, or coming under budget for expenses. A business unit manager at a Fortune 500 company is given an enormous budget. Generating forecasted revenue at lower-than-anticipated costs is a good thing.
These incentive plans are written to favor sales over target, but also to penalize for costs over budget.
Engineers generally aren't on incentive-based compensation plans because their work isn't judged by dollars. If you write buggy software, your paycheck won't get dinged, although the QA and tech support people won't be happy with your crapware.
Whether or not American companies compensate senior executives too much vis-a-vis their international peers or even their own employees is a separate discussion. This dichotomy was one of the clear instances of different corporate cultures and environments when Daimler-Benz had their disastrous merger with Chrysler, as the Daimler execs were paid far less than their American peers.
A friend of mine, now passed, had his neck broken when hit by a car. He got a $1million payout approx. He paid back various costs that accrued during the 10year wait for the courts, bought a house, car and toys and invested approx $250k and retired. The $250k gave him around $500 a week and the rest was reinvested so it could keep providing a CPI matched increase.
These people listed would have high weekly expenses due to location, extra costs created by security and privacy needs (real or imagined) maybe a partner, or children or a sickly mother to help.
After that it's all clothes, haircuts and salad no matter who you are.
Even being dumb with numbers $1mil invested would give a $2,000 a week income; not retired then $2mil invested would get $2,000 a week with tax paid at a 50% rate. None of these people would pay the full tax rate after the accountants tweaked everything. They probably get tax refunds.
So within 2-3 years, with cash income alone ANY of those people could be paying THEMSELVES a wage approaching $2,000 a week FOREVER.
How long have most of these people been working at Apple, 5 years, 10 years, 15 years? They should all be paying themselves north of $10,000 a week by now.
Once you own your home outright, your car outright and your food, medical, gym, transport, communications etc are all paid for by your work. Then what are you doing with $10,000 a week post 50% taxes, food and clothes?!?!?!
My point is
If these people haven't the financial wits of a 29yr old wheelchair bound man with cerebral palsy forced to live under his parents house for 10 years and pretty much smoked, played video games and watched anime then what the **** are they doing running 100 billion dollar companies.
They can't even look after themselves when showered in enough money every 2 years to let them retire and live as the 1% for all eternity.
I mean no disrespect, but sorry, show me why you are actually worth it.. for example, that you do pay your own way and all that annual income feeds directly into charities and things that help others and mean something to you.
I have?
Thanks for the compliment!
yeah, but God or something.
Why even concern yourself with such matters? I guarantee there are millionaires here who are thankful for the growth and returns Apple's stock has provided them and they are free to spend (or not spend) their gains as they see fit. Being bitter about someone else's gains will help no one, especially not you.