Google is patting its executives on the back and offering them a hefty pay increase, according to a US filing.
It was revealed last week all employees at Google would be getting a 10 per cent pay rise, as well as a $US1,000 bonus. However, the higher echelons are set to get a massive 30 percent hike in wages in 2011.
The extra cash will go to four of Google’s top executives and bring their salaries up from $US500,000 to $US650,000.
The four fortunates are chief financial officer (CFO) Patrick Pichette, president of global sales Nikesh Arora, senior vice president of engineering Alan Eustace and chief technology strategist Jonathan Rosenberg.
They will also receive equity awards of $US20 million for Pichette and Arora, $US10 million for Eustace and $US5 million for Rosenburg.
Chief executive (CEO) of Google Eric Schmidt, along with founders Larry Page and Sergey Brin, continue to keep a $US1 per year salary and have “declined” to take part in the executive bonus plan, said the filing.
Rumours have been circling Silicon Valley that Google was boosting everybody’s wages to ensure they didn’t defect to the company’s biggest rival, Facebook, and TechCrunch reported one engineer was given stock amounting to $US3.5 million to stop him making the move.
This article originally appeared at itpro.co.uk
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Issue: 340 | July 2015