r/technology • u/geoxol • Jan 13 '23 • Bravo! 1 Helpful (Pro) 1

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

https://apnews.com/article/technology-apple-inc-tim-cook-business-d056553b10120c4a968b562cb7ece5d2
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u/Beny1995 Jan 13 '23 edited Jan 13 '23

Unlikely. Tim Cooks' salary is $3m so -40%= $1.8m. I'd wager he isn't taking a cut on his bonuses.

Meanwhile Meta laying off 10,000 employees with an average wage of $100,000 (very conservative estimate) equals an annual saving of $1bn. Almost 1000 times more saving.

Now, if all apple SVPs and VPs take similar paycuts, we might be in the same ballpark.

Edit: yeah fair dos I didn't read the article, it's his TC getting cut not his salary. Still my point stands that the saving won't come close to layoffs.

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u/wpScraps Jan 13 '23

"Apple Inc. said in a regulatory filing late Thursday that Cook’s target total compensation is $49 million for 2023, with a $3 million salary, $6 million cash incentive and $40 million in equity awards."

Cook has received a $3 million base salary for the past three years, but his total compensation — which includes the restricted awards — jumped from $14.8 million in 2020 to $98.7 million in 2021 and $99.4 million in 2022.

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u/tingulz Jan 13 '23

That’s disgusting.

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u/Dumbass1171 Jan 13 '23

People here acting as if being the CEO of a multibillion dollar corporation is easy

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u/anonteje Jan 14 '23

People complain about the man devoting his entire life to his work, while they are sitting on the sofa, drinking beer, and trying to minimize their effort put into work...

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u/BigGreen1769 Jan 14 '23 edited Jan 15 '23

More people would care about their work if they were actually paid fairly and had a living wage.

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u/Dumbass1171 Jan 14 '23

America has one of the highest median incomes in the world

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u/coffeeandweed58 Jan 14 '23

Stupid easy. Maybe the road to get there was difficult but you’re living the good life once you hit level.

It’s not like Tim is spending hours doing programming or anything. Dude sits in meetings, then a meet and greet with some employees, meeting with other big wigs in other companies/industries, then heads home. $84m in compensation is an insane amount of money

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u/NutInMyCouchCushions Jan 14 '23

It’s an insane amount of money but the dude helms a trillion dollar company that’s one of the most recognizable in the world. Under his leadership apple has grown like crazy. He deserves it. You’re insane if you think that’s an easy job

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u/coffeeandweed58 Jan 14 '23

It’s incredibly easy to sit in meetings, listen and delegate. Hundreds, if not thousands, of people under him could do the exact same thing. I’m not saying he shouldn’t be compensated for how the company does but $84m is absurd when you are easily replaceable and the company wouldn’t miss a beat. Doesn’t matter how much the company is making a year.

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u/NutInMyCouchCushions Jan 14 '23

Good leadership is incredibly hard to come by. I’ve been working in corporate tech my entire career and having a good leader is so rare and valuable it’s not even funny. Good leadership isn’t easy to replace at all.

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u/TacoMedic Jan 14 '23 edited Jan 14 '23

Yeah, all these people saying Tim has an easy job are outing themselves as students, idiots, or blue collar self-employed contractors. Anyone who has worked in any properly structured organization for a few years can give you dozens of examples of either shit leaders losing millions for their company or, more likely, meh leaders that bring nothing to the table. An actual good leader that knows how to motivate employees, can see what needs to be done, and actually provides value to their organization is worth their weight in gold.

Leadership looks easy, but if it was then no company would go out of business.

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u/NutInMyCouchCushions Jan 14 '23

Exactly. I’ll likely never take an executive leadership role in my career purely because that’s a certain type of life of constant work and stress and responsibility that I’m not here for. I have a lot of respect for people that do it and they’re extremely valuable when they’re good at those roles

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u/phoenixmeetsthedwarf Jan 14 '23

Right, so you’re not a CEO of a multi-billion dollar company simply by your own choice not to be I guess.

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u/coffeeandweed58 Jan 14 '23

Didn’t say I’d be a good CEO numbnuts. I said they are replaceable. Slow down, comprehend what I wrote and think.

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u/okmarshall Jan 14 '23

It's really not as easy as you think.

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u/coffeeandweed58 Jan 14 '23

So if Tim was replaced tomorrow morning, you don’t think they could find at least a hundred people just inside Apple that could do it?

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u/okmarshall Jan 14 '23

That's changing the parameters of the conversation, but of course I think there are others who could do it, Apple hired at the top level of professionals. Equally I think those individuals would be entitled to earn the same as Tim.

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u/coffeeandweed58 Jan 14 '23

How is it changing the parameters when the whole point is they can replace and shouldn’t be paid that much?

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u/Dalvenjha Jan 25 '23 edited Jan 26 '23

You would bend like a cookie under the pressure in five seconds, do you think that making decisions about the biggest company in the world and trying to elevate the income is easy? If it’s easy, why are you poor? Armchair CEO’s are the worst

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u/coffeeandweed58 Jan 25 '23

Bruh, can’t take anything you say remotely serious when you use hugest in that sentence lol. Go back to the drawing board and come back in another 11 days to try again

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u/Dalvenjha Jan 26 '23

Sorry, not my first language and the autocorrect sometimes plays against me. Maybe if we talk in Spanish I will be more eloquent?

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u/lonnie123 Jan 14 '23

These convos never go anywhere because people are talking about different things. For example, any office job or c-suite job is "easier" than the easiest construction job if you are talking about actual work being done. But only certain people are cut out for effective and successful CEO type work (which makes it "hard" to do). But its mostly a decision making position, and not a labor position.

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u/coffeeandweed58 Jan 14 '23

Oh I agree but $84m in compensation is insane when hundred, or even thousands, of people under him could also do the same thing. Even crazier when you think he can be replaced relatively easily and Apple wouldn’t miss a beat

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u/lonnie123 Jan 14 '23 edited Jan 14 '23

I guess thats defined by what “could do the job” means

If Steve Jobs hadn’t spear headed the iPhone and it’s follow ups would apple be the company it is today? The presumption is that these people take unique risks, see unique opportunities, create unique markets, etc… that Joe in accounting wouldn’t. Plenty of businesses fail every day, and apple almost did before Jobs came back, so he did do something different that apparently no one else there could think of.

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u/coffeeandweed58 Jan 14 '23

But that’s the rub isn’t it? Apple really isn’t innovating anything these days. Tim and Steve are very different in terms of CEOs. Yes, some replacements would fail ie Chapek at Disney, but it still doesn’t discount the fact that Tim could be replaced by an equally competent person.

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u/lonnie123 Jan 14 '23

Innovation is one part of a successful company, and while it’s clear they are still riding the iPhone and music wave Jobs started the company has pivoted to more services (iCloud, Arcade, Apple Music streaming) and I’ve always heard he was a “supply chain expert” so he apparently improved the company that way as well

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u/iNoo00ooNi Jan 14 '23

I feel like William the Conqueror had a harder job.