During the last few days there is a lot of talk about what Tim Cook, CEO of Apple, earned in the last year.
Apple is one of the companies that best pays its employees, with an average salary of 68,254 dollars a year, but the CEO, Tim Cook, made almost 100 million dollars in 2021, adding salary, benefits and awards for meeting objectives.
This difference has been published in the media with alarmist headlines such as “Tim Cook made 1,400 times more than the average company employee,” and it is true, that was exactly the relationship.
The controversy is served, since seeing a CEO earn 1,400 times more than an employee is something that draws attention, but it is important to take into account other points that are not usually discussed:
– In 2020 Apple had 147,000 full-time workers. If what Tim Cook earned in a year were divided equally among all employees, they would earn about $ 50 more a month. It’s not a fortune, it wouldn’t make a big difference to someone who already earns $ 68,000 a year.
– Being CEO of Apple means not having a personal life. You cannot turn off your phones at night, or go on vacation quietly, or sleep with both eyes closed. Tim Cook, like many other CEOs, has decided to “sell his soul” to the project, and that, for many, cannot be paid for with money (for him, of course).
– Tim Cook’s salary is $ 3 million a year, but he had $ 82.3 million in stock incentives, more than $ 10 million for goal achievement, and other extras for travel and retirement. Having a portion of your salary in stocks is fine, but it’s only okay if stocks continue to rise, and that largely depends on him.
Being CEO of one of the largest companies in the world is not an easy task, and money can only pay for the peace of mind that that effort is worth it. Hopefully in the future he knows how to invest it in actions that benefit others, just as other great CEOs did in the past.