Is anyone surprised?
CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
81–90 of 357 posts
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#82I know for a fact that people in the Csuite of medium size companies can easily make 400k/month total comp (specifically if they’re public companies, but private companies have outrageous paychecks also). Not even talking about the CEO, and not even talking about FAANGs and similar companies. Chances are that the leadership team of your company is making an absurd amount of money.
Writer named Graef Crystal, who for many years had been a compensation advisor to executives who were negotiating their employment contracts, estimated that each extra dollar the CEO received ended up costing the corporation $32. Extra pay to other C-Suite occupants so they can keep pace with the CEO, more elaborate staffs, more lavish travel.
So it absolutely is not a rounding error.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#83> Alphabet CEO Sundar Pichai was awarded compensation worth more than $225 million in 2022 I know this has been discussed here and 225MM is like the salary of 1000 employees making 200K for only one year, it is stock which is volatoile, that the salary of a CEO is impossible to measure, bla bla bla. But holy guacamole, whatever is the angle I look at it 225MM pear year does not make any f_ing sense to me and it is si…
I worked for a guy a decade ago who spent 8-10 years building a company to sell it for $300-400 million and he hasn't worked a day since. Owns a 30k acre ranch that a bunch of friends/family live on. Learjets. Villas in the islands, things like that. I can't think of one thing he hasn't done or is limited financially in doing. Last time I saw him he had a $120k watch on, some type of Hublot big bang.
And Pichai gets that yearly...
Here, check out the type of trash he spends his money on now. https://www.drivetanks.com/ Absolute waste to society.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#84This isn't really a surprise. We've created a society that depends on growth. CEOs sign up for a job where they're responsible for growing a company, so they're obviously the type to value growth and want more for themsleves too – there's not a lot of CEOs who do it out of the goodness of their hearts. The investors, from the board down to individual nameless shareholders, all demand more money every quarter... even…
I don't think this is true for all of us, possibly not even for most people in the US. I know plenty of people who took lower paying jobs because they valued other things more than "growth": quality of life, family, passion, etc. I know people who have enough to meet their needs and are not actively working towards having more . People who retire by "aging in place" who do not care about the value of their home becau…
I think one of the challenges is that if a society gets richer around you, and you don’t, then normal services get more expensive as people demand higher salaries to do the same things, and houses get more expensive.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#85Billionaires are a choice and CEOs earning 225 million while sacking swathes of employees are a choice. There is relatively little sympathy in these instances though because the laid of people are shockingly rich engineers (by normal people’s standards) but this is how you get a revolution.
Not sure why I’m getting downvotes, maybe a lot of people think they might someday become alphabet CEO and need to protect their future wealth. Some /s there but I honestly don’t understand the support base for the hyper rich.
Regardless, insane wealth inequality is exactly how you get revolutions.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#86This isn't really a surprise. We've created a society that depends on growth. CEOs sign up for a job where they're responsible for growing a company, so they're obviously the type to value growth and want more for themsleves too – there's not a lot of CEOs who do it out of the goodness of their hearts. The investors, from the board down to individual nameless shareholders, all demand more money every quarter... even…
[dead]
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#87> Alphabet CEO Sundar Pichai was awarded compensation worth more than $225 million in 2022 I know this has been discussed here and 225MM is like the salary of 1000 employees making 200K for only one year, it is stock which is volatoile, that the salary of a CEO is impossible to measure, bla bla bla. But holy guacamole, whatever is the angle I look at it 225MM pear year does not make any f_ing sense to me and it is si…
>whatever is the angle I look at it 225MM pear year does not make any f_ing sense to me
Whenever a company starts, its not like the salary is auto set at 225M. The salary of the CEO is tied to the stock price to incentivize growth. Initially CEOs make way, way lower amounts (ignoring bullshit VC capital and inflated salaries).
If it so happens that the stock goes up with growth, then the increase in salary represents the responsibility amount that the CEO has, as bad decisions can cost lots of peoples jobs and so on.
Whenever you have market upswings that cause these ridiculously high 225M, its in a weird way the people saying the CEO wants to get paid that much. People spend more money that they have due to wfh and stimulus (granted by the people and who they vote for), causing revenues to go up, causing investment capital to go up (with a tieback to people putting money in things like 401k that depend on this as well), causing the market to go up, and so on.
TLDR, its not optimal, but it makes sense.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#88Alphabet CEO Sundar Pichai was awarded compensation worth more than $225 million in 2022, which marked a staggering 3,474% increase from the previous year, making him the nation’s highest-paid CEO, according to Equilar data. There’s a whole rabbit hole to go down, but CEO compensation is not well defined. In this case it’s likely that Pichai was granted options with a multiyear vesting schedule, plus perhaps performa…
I disagree. Yes we should think about option grants differently, but not that differently. At the end of the day I don't think anyone would say Sundar has been that much better than his replacement level CEO. Certainly not better enough to deserve 225 million in equity. The stock is up 10% this year, still below 2021 levels.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#89> Alphabet CEO Sundar Pichai was awarded compensation worth more than $225 million in 2022 I know this has been discussed here and 225MM is like the salary of 1000 employees making 200K for only one year, it is stock which is volatoile, that the salary of a CEO is impossible to measure, bla bla bla. But holy guacamole, whatever is the angle I look at it 225MM pear year does not make any f_ing sense to me and it is si…
Google is a $1.6T company. For a guy that runs it to earn $200 M a year is basically nothing. Can he do good enough of job? Great, he's then definitely worth it (and, actually, he's worth much more).
> (and, actually, he's worth much more).
Bullshit. Fucking nonsense, bullshit.
I fail to understand how thinking people could ever believe that this is true - it's got to be innumeracy and a healthy dose of propaganda. Would Google lose the now-equivalent of 200m annual if any one of the top 100 leaders within the corp ascended to the goddamned throne? Fuck no. It's nonsense to believe any one person is worth compensating at that level.
Re: CEOs’ pay climbed before layoffs at tech giants like Alphabet and Microsoft
#90Earlier quoted context omitted.
225MM is not salary. It is stock compensation based on performance.
A distinction without a difference. Nobody is getting cash in that amount
There is a huge difference, If Google stock underperforms, he is not getting that compensation unlike salaried folks.