Feeds

Valley execs' greed returns to dotcom levels

$2.1bn in the pocket

  • alert
  • submit to reddit

Build a business case: developing custom apps

While record numbers of tech jobs were shipped offshore last year, Silicon Valley's tech execs gorged themselves at levels unseen since the dot com boom.

Tech executives pocketed an astonishing $2.1bn in compensation last year, every cent at the shareholders' expense. That's the highest level since $2.1bn recorded in 1999, the San Jose Mercury reports in its annual survey of fatcat pay. Median executive pay rose 57 per last year.

Most of the swag was gained through stock options - the Merc doesn't count sales of stock as compensation. Yahoo!'s CEO, Terry Semel, tops the list, with $230.5m, and Yahoo! CTO Farzad Nazem pocketed $63.2m. eBay's chief operating officer, Maynard Webb, took home $46.4m.

Excluding the dotcom companies, Oracle's Larry Ellison earned $45.8m, Cisco's John Chambers $40.2m, and wafer equipment vendor Lam Research chief Jim Bagley $32.5m. (Not bad for a company that can't spell "research".) Apple executives took advantage of a rising stock to profit too - hardware chief Jon Rubinstein leads the list with $33.2m.

Many of the CEOs rewarded fought vociferously against returning corporate profits to shareholders in the form of dividends. You can see the full chart here. ®

Related stories

15,000 HP workers get nervous as analyst predicts massive job cuts
IBM to fix bad quarter by axing 13,000 jobs
HP thins UK support contract - sends hundreds of jobs to India
HP prints up thousands of severance packages
Dell ready to go on India hiring binge
India, China poised to feast on US IT complacency

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.