2022 was a difficult year for the technology industry, with layoffs, suspension of hiring and falls in markets such as cell phones and computers. And one of the consequences of the crisis, for example, was the reduction in the salary of the CEO of Manzana, Tim Cookwho went from earning 100 million dollars to 49 million.
The company’s shareholders voted to reduce his salary by 40%, as a way to remedy the situation. A value that, although it seems high, is one of the lowest compared to what other managers of other companies in the sector earn, who manage to triple their salary.
How much do CEOs of large companies earn?
The reference data at this time is that of 2021, which is the last year for which a consolidated was released, so Cook’s previous salary will appear before the reduction.
In an analysis done by xataka They took the company’s market capitalization as a reference, to compare what percentage that salary represents, which as a first data was mostly between 0.01% and 0.1%.
The 10 CEOs who earn the most salaries, according to the investigation of the Spanish media are:
1. Peter Kern (Expedia Group): 296 Million dollars
2. David Zaslav (Warner Bros. Discovery): $247 Million
3. Andrew Jassy (Amazon): 213 Million dollars
4. Patrick Gelsinger (Intel) $179 Million
5. William McDermott (ServiceNow): $166 Million
6. Safra Catz (Oracle): 138 Million dollars
7. Tim Cook (Apple): 99 Million dollars
8. Hock Tan (Broadcom): 61 Million dollars
9. Ronald Clarke (FLEETCOR Technologies): 58 Million dollars
10. Satya Nadella (Microsoft): 55 Million dollars
In this top 10, executives of recognized companies in the sector were left out, as in the case of mark zuckerbergCEO of Goalwho earns $27 million; sundar pichai, of alphabetparent company of Googlewith a salary of 6 million; Jen Hsun Huangof NVIDIAwith 24 million and Christian Amonof Qualcomm, with 21 million.
In the list of 100 executives obtained by the media, only three video game development companies appear: Electronic Artswhich pays its CEO, andrew wilson20 million dollars; Activision Blizzard 1 million to Robert Kotick Y Take-Two Interactive Software less than a million to Strauss Zelnick.
Among the companies that invest the highest percentage of their market capitalization to pay their CEOs are Expedia (1.78%), Warner Bros. Discovery (0.78%) and DXC Technology Co. (0.43%).
More earnings is not more salary
One of the most outstanding conclusions of the investigation is that the salary of a CEO is not directly proportional to the market capitalization of a company, that is, not because the company generates more profits, its manager is going to be the one with the highest payment. high in the industry.
For example, Apple, Microsoft, Alphabet, Amazon and Visa They are the companies with the highest capitalization in the study, all exceeding 450 billion dollars and even reaching two trillion dollars, but the percentage that the salary of their CEO represents is not greater than 0.02% of their profits.
Otherwise, what happens with smaller capitalization companies, who pay their CEO between 0.10% and 0.47% of their income, although Expedia break that rule.