Google bosses get tasty raise
10 per cent good enough for troops, not for officers
Four senior, but not the most senior, Google bosses are getting 30 per cent pay rises and a hefty jump in their expected bonuses.
Basic pay for the four goes up from $500,000 in 2010 to $650,000 in 2011.
The four will also see their target bonus go up from 150 per cent of salary to 250 per cent. Half this bonus is based on personal performance, the rest on the financial performance of Google.
The lucky four are CFO Patrick Pichette, Global sales boss Nikesh Arora, Engineering and Research boss Alan Eustace and Product Management chief Jonathan Rosenberg.
Chairman Eric Schmidt, Sergey Brin and Larry Page remain on a salary of $1 a year. The three also modestly refrain from joining the executive bonus scheme.
The numbers come from a Google SEC filing. ®
RE: Some are more equal than others
Lol - bosses of huge companies taking the same pay rise as everyone else. Thats a good one!
Still 10% isn't bad. It is shame those that can help themselves couldn't refrain from doing so for the greater benefit of all involved. While not exactly evil, it is par for the course and just serves to distance those at the top from those who work for them.
It's good to be king.
If you have to be a vassal however, try to be a vassal for a king that pays well. 30% is a nice pay raise for a vassal, and 10% for the peasants? Google may “Creepy free-candy-van Incorporated,” but it seems like it’s great to work there…
It's the new American Dream ...
As the gap between the rich and the rest of us expands in the US, making it to one of these upper echelon jobs is the New American Dream. If you make it into one of these positions (who said nepotism) you get to set your own salary, accept huge bonus payouts, live in luxury while absolving yourself from any responsibilty and well, ... generally contribute to further widening the gap between the rich and the others. Ah, free enterprise - gotta love it.