Steve Jobs earns $1 per year?

Mr. Alex · 11-20-2010, 08:22 AM

Why does he work in Apple then?
I couldn't find an answer in Google...

lumak · 11-20-2010, 08:43 AM

Some share holders in large companies don't take a salary for many reasons. If they are a large share holder and independently wealthy, they don't really need the money but have a good interest in making the company succeed.

XavierP · 11-20-2010, 08:51 AM

It's not unusual. The outgoing CEO of HP had a $1m salary, but took about $50m per year in stock options, bonuses and so on. All Jobs is doing is giving himself a nominal salary so that their pay system can recognise him as an employee and then taking the real money via other means. It may even be made as a payment to "Steve Jobs Ltd" for "consultancy". That's the way these things work when you are absolutely loaded.

hughetorrance · 11-20-2010, 09:20 AM

He probably pays less tax and stuff so he gets more for his extra special favourite... himself !

frieza · 11-20-2010, 11:26 AM

Quote:

Originally Posted by hughetorrance

He probably pays less tax and stuff so he gets more for his extra special favourite... himself !

exactly thats how the rich get richer and the poor get poorer
rich people can afford to pay people to help them keep their money
poor people are too busy living paycheck to pacheck to sometimes even have a decent savings account, sad but true

rsciw · 11-20-2010, 12:19 PM

Larry Page, Sergej Brin and Eric Schmidt of Google afaik do the same, have a nominal salary of $1 per year

dv502 · 11-20-2010, 12:31 PM

I wish I could experience that kind of wealth.

lupusarcanus · 11-20-2010, 12:50 PM

Quote:

Originally Posted by dv502

I wish I could experience that kind of wealth.

Who doesn't?

But yeah, he makes $1 a year 'officially' at Apple, and then pulls in millions of dollars via other ways, like being a shareholder.

Jeebizz · 11-20-2010, 02:27 PM

This '$1 a year bonus' gimmick started out after the whole bonus stink from AIG. This is supposedly to demonstrate how 'sensitive' CEOs are in this kind of economic climate. Either way, I rather like how some European companies handle their CEO pays, they only get six figures for being a CEO, no reason to get millions. Thats the way it should be.

NirvanaII · 11-21-2010, 09:10 AM

Quote:

Originally Posted by frieza

exactly thats how the rich get richer and the poor get poorer
rich people can afford to pay people to help them keep their money
poor people are too busy living paycheck to pacheck to sometimes even have a decent savings account, sad but true

Or even a living wage for FoxxCon workers; but then living is nothing to the ipod.