Tim Cook earns the same as 1,400 Apple workers with average wages

Definitely being the CEO of Apple should involve great responsibilities, but it also has great benefits. As Tim Cook’s salary in 2021 shows, that was 1,447 times greater than the average employee of the tech giant.

Reuters disclosed that, according to a document, Apple’s leader made about $ 100 millionThanks to the stock awards that helped him earn that hefty sum last year.

Apple explained that in 2021, the median salary for employees was $ 68,254, noting that it had selected an average new employee to compare due to changes in hiring and compensation.

Median salary in 2020 was $ 57,583 and Cook’s salary-to-salary ratio, was then 256 times, because in that year he earned $ 14.8 million.

The Apple’s revenue increased more than 30% to $ 365.82 billion for fiscal 2021 and its shares briefly crossed $ 3 trillion in market capitalization this year.

These are undoubtedly great results, as the iPhone maker has benefited from strong demand during the pandemic, as consumers who worked from home were not limited to updates to the apple product.

In 2021 Cook’s salary remained at $ 3 million, but he received $ 82.3 million in stock awards, $ 12 million for reaching Apple’s goals and $ 1.4 million for air travel, 401 (k) plan, insurance premiums and others.

That is to say, that in total he earned $ 98.7 million, compared to $ 14.8 million in 2020. Or what is the same, in 2021 it earned as much as 1,447 employees, while in 2020 it earned as much as 256 workers with average salary.

A report from the Institute for Economic Policy revealed that in 2020 CEOs in the United States received 351 times more than the average worker. And while Compensation for top CEOs grew by approximately 60% Faster than the stock market from 1978 to 2020, the growth in the annual salary of a typical worker has been 18% in the same period.

Tim Cook told Fortune in 2015 that he plans to donate his wealth to charities.

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Reference-eldiariony.com

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