Apple CEO Tim Cook to take more than 40% pay cut

[u/geoxol]

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2

[u/InitiatePenguin]

CEO cuts his own salary and reddit's reaction is "He's still getting paid too much".

He cut down his salary to 3x his salary three years ago after spiking it 8x over the pandemic.

[u/Kelter_Skelter → u/InitiatePenguin]

What are the actual annual salary numbers per year? I know you're leaving it out to shorten your response but it would be beneficial to post that in a thread like this

[u/InitiatePenguin → u/Kelter_Skelter]

14 mil and change before the pandemic and 98 after. 49 moving forward.

The income salary portion remained constant at 3, additional compensation like equity and cash incentives are what ballooned. It's all in the article.

[u/Davesnothere300 → u/InitiatePenguin]

Holy fuck, this should be in the title.

This isn't an act of charity whatsoever.

[u/leafs456 → u/InitiatePenguin]

its funny because his salary is comparable to top tier athletes yet reddit for some reason never complains about that. ig we pick and choose who we think is overpaid

[u/Tnwagn → u/leafs456]

Comparing professional athletes, who are the primary reason people pay to attend sporting events, buy merch, etc with the CEO of a tech company which has millions of people across the globe doing the actual work to make the goods and services that company's customers buy isn't a good example.

Pro athletes are paid ludicrous salaries which should be better shared with the entire workforce that enables those sporting events, but their direct input resulting in money into their organizations is enormously more significant than Tim Cook's contributions to Apple from a revenue generation standpoint.

[u/leafs456 → u/Tnwagn]

i can tell you lack work experience by arguing athletes are far more valuable than what good leadership brings to a company.

[u/MrGalax22 → u/leafs456]

Lmao you must be joking, atheletes are in the .001% of their respective fields and draw in billions of dollars annually. They did an economic report on Lebron James impact and found his value to LA was something like 400 million dollars and over 2000 new jobs. From the ticket sales, arena revenue, local restaurants, hotels, local shops, Jersey sales, sneaker sales. Almost every local industry benefits from the direct impact of HIS talent and HIS greatness. If he suddenly lost all his talent literally millions of dollars of revenue would be lost. Tim cook doesn't even have unilateral power over apple he answers to a board. You could literally replace him with anyone and that company could still, produce phones, market, produce software and sell to customers. Ridiculous take by you honestly

[u/InitiatePenguin → u/leafs456]

Literally in the article:

The company plans to position Cook’s annual target compensation between the 80th and 90th percentiles relative to its primary peer group for future years, according to the filing.

That's after a 40% reduction.

[u/LookAtYourEyes → u/Kelter_Skelter]

It's in the article

[u/zaviex → u/InitiatePenguin]

He didn’t raise or lower it. The Apple board commissioned a group to come up with his package

[u/NutInMyCouchCushions → u/InitiatePenguin]

And three years ago Apple reported roughly 1/2 of what they do in revenue today. I’d say that when you bring in an additional $150B under your leadership you should have your value recognized

[u/MrGalax22 → u/NutInMyCouchCushions]

Did he bring in that value? Did people go buy products because Tim cook made them, designed them, created the software, explained the features, marketed it to them? He's an important leader who I'm sure has made important decisions that have put apple on the right path but to say he's responsible for "bringing in 150B" is laughable. His salary already jumped 500% even tho he was 500% more important than the designers, and engineers who actually build the software/hardware that makes apple billions yearly.

[u/Aururian → u/InitiatePenguin]

jesus christ get a grip