Temp Job At Apple = $12.3M

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This has to be the highest paying temp job in the world. Just take the helm from Steve Job for a few months, make sure nothing blows up while you are “in charge” and you get $14 million in stocks. :eek:

This year for Tim closes with a $12.3 million stock award plus a $100,00 salary raise (up to $800,000 from $700,000) and a fat cash bonus of $800,000. Total compensation for 2009? $14 million. Steve Jobs took his usual $1 salary and a $1 bonus.
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that 1 dollar salary and 1 dollar bonus stuff is great to report
are there any stats that say how much they actually make?
 
Why do these CEO's just get paid 1$? Why don't they get actual money? I never understood this, and how do they have everything if they only get 1$? Can someone please explain?
 
Eragon Dragonslayer said:
Why do these CEO's just get paid 1$? Why don't they get actual money? I never understood this, and how do they have everything if they only get 1$? Can someone please explain?
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10million stock options = a whole bunch more.

At the time, they were worth 5usd, each.

Now, they are much, much better.
 
More of a symbolic bump than anything, Tim Cook has been running Apple as COO for over a decade anyways.
 
jeremyshaw said:
10million stock options = a whole bunch more.

At the time, they were worth 5usd, each.

Now, they are much, much better.
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Yup, the tax rate for long term capital gains is a lot lower than it is for a normal salary.
 
jeremyshaw said:
10million stock options = a whole bunch more.

At the time, they were worth 5usd, each.

Now, they are much, much better.
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Oh dang, so that means as of right now its $211 for 1 stock, so thats 2.11 billion dollars...holy crap that's a lot...
 
Serpico said:
Yup, the tax rate for long term capital gains is a lot lower than it is for a normal salary.
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Effectively, it ends up being whatever you choose to pay. It's possible to roll things on indefinitely and pay no tax at all (as happens with the largest inherited fortunes).

Most pay around 10% tax. That's felt to be enough to look 'ok' if you feel it's politically expedite to pay something.
 
Cobalt35 said:
Actually it's 4.22 billion...

10,000,000 / 5 = 200,000
200,000 x 211 = 4,220,000,000

Either way, it's a shit ton of cash.
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Actually, its just 10 million x 211, btw you added extra 0's in your second calculation and you forgot a 0 in your first calculation.
 
Kelv said:
Actually, its just 10 million x 211, btw you added extra 0's in your second calculation and you forgot a 0 in your first calculation.
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You're right about it being 2.11... I read the original quote as he was given $10 million worth of stock at valued $5 per stock option, which is now valued at $211 per stock option. You're also right about my crappy maths lol.
 
Capital gains.. wow..
http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Since his actual income is $1.00 he is really working the system.

Since the $1.00 would be the 10% Tax bracket, if he does a short term (holds stock less than 12months) he pays 0% taxes!.. If he cashes in < 12 months he pays a whopping 10%...

My self, I am fortunate to be in the 28% tax bracket and will pay more in actual dollar taxes than Jobs if he holds his stocks issued this year for 12 months.. So will the bag boy bagging your groceries.. Something wrong with that picture?
 
chrispix said:
Capital gains.. wow..
http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Since his actual income is $1.00 he is really working the system.

Since the $1.00 would be the 10% Tax bracket, if he does a short term (holds stock less than 12months) he pays 0% taxes!.. If he cashes in < 12 months he pays a whopping 10%...

My self, I am fortunate to be in the 28% tax bracket and will pay more in actual dollar taxes than Jobs if he holds his stocks issued this year for 12 months.. So will the bag boy bagging your groceries.. Something wrong with that picture?
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Its how executive compensation works in many companies, just how things are. They are also a way of retaining employees for a certain period of time since the options cannot or should not be cashed out until a certain point (closer time to expiry means greater value if the stock has moved up). Low salary combined with the promise of greater return with stock options if you stick around is the basic gist.

What's funny is that new stock options that were issued a year ago to the main people there (Jonny Ive, iPhone VP, marketing VP, retail chief, etc etc) in conjunction with contract renewals. This was when the market tanked and the stock was worth around $85. They will mature in 2012 or so and can be cashed out afterwards. Gotta say, spectacular timing with those, not only in terms of nailing down a good entry level price (the stock is worth over $200) but also to retain those employees.
 
chrispix said:
Capital gains.. wow..
http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States

Since his actual income is $1.00 he is really working the system.

Since the $1.00 would be the 10% Tax bracket, if he does a short term (holds stock less than 12months) he pays 0% taxes!.. If he cashes in < 12 months he pays a whopping 10%...

My self, I am fortunate to be in the 28% tax bracket and will pay more in actual dollar taxes than Jobs if he holds his stocks issued this year for 12 months.. So will the bag boy bagging your groceries.. Something wrong with that picture?
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No, because all of Apple's employees pay income tax, as does Apple in corporate earnings, as does every iPod and iPhone sold, as does all the other Apple stockholders paying capital gains. How many bites of the Apple do you want? Go away, we all pay enough taxes, please stay away from my company! Jobs has paid millions and millions and millions of dollars in taxes in his lifetime, not to mention the billions in wealth he has created for shareholders.

Want some money? Go invest and stop trying to steal from others. Thank God we have companies like Apple in the US making stockholders money with all these loser banks and companies the government needs to prop up.

If Jobs was making $50 million you'd be bitching he makes too much. At least this way, there is incentive toed to his compensation.
 
uclajd said:
No, because all of Apple's employees pay income tax, as does Apple in corporate earnings, as does every iPod and iPhone sold, as does all the other Apple stockholders paying capital gains. How many bites of the Apple do you want? Go away, we all pay enough taxes, please stay away from my company! Jobs has paid millions and millions and millions of dollars in taxes in his lifetime, not to mention the billions in wealth he has created for shareholders.

Want some money? Go invest and stop trying to steal from others. Thank God we have companies like Apple in the US making stockholders money with all these loser banks and companies the government needs to prop up.

If Jobs was making $50 million you'd be bitching he makes too much. At least this way, there is incentive toed to his compensation.
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God I hope this is sarcasm.
 
SixtyWattMan said:
God I hope this is sarcasm.
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What part of it? You don't believe that someone who has generated tens of billions of dollars in tax revenue "isn't doing his fair share"?

Every time I see someone bitch and complain about a billionaire paying 10% (As if that were true) tax I have to stop and wonder... How many millions times more money must he contribute before he's reached his "fair share"?
 
*Edit*
How many millions of times more money then you must he contribute before he's reached his "fair share"?
 
God I hope this is sarcasm.
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Stockholders are a strange bunch. :p

How many millions of times more money then you must he contribute before he's reached his "fair share"?
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It's all about percentages. If you live in a particular country, your fair share is determined by the government and what tax bracket you fall in :) Though, since the rich own the country, it's really up to them what their fair share is, so it's all right.
 
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