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Apple CEO Tim Cook's total pay drops to $63 million for 2023. (9to5mac.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Apple CEO Tim Cook's total pay drops to $63 million for 2023.::Apple today published its annual proxy statement for investors, revealing a number of details about executive compensation, shareholder proposals, and more. Notably,...

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[–] Poayjay@lemmy.world 102 points 8 months ago (5 children)

If you figure each engineer costs apple $250,000 a year, that’s the equivalent of 250 engineers. Could you imagine what apple could accomplish with 5 extra engineering departments? In what world is this one guy worth that much?

[–] vexikron@lemmy.zip 34 points 8 months ago* (last edited 8 months ago)

Our world!

You know, the Clown World timeline!

[–] rottingleaf@lemmy.zip 9 points 8 months ago

If we use our own criteria to evaluate Apple's success (and wage distribution), then it makes no sense from its very beginning. Just like with any company.

[–] lung@lemmy.world 0 points 8 months ago

I'm pretty sure that you could use one of those departments to fully automate management. Just go full data-driven and tie salaries to revenue. The engineers can take it from there, they're plenty smart

[+] YurkshireLad@lemmy.ca -19 points 8 months ago (2 children)

An engineer costs a lot more than that if they have health and life insurance and any other benefits through the company. Disclaimer - I don’t know if Apple employees have benefits.

[–] fluxion@lemmy.world 35 points 8 months ago* (last edited 8 months ago) (1 children)

Like, 10% more. Don't think that really changes the comparison.

[–] abaddon@lemmy.world 3 points 8 months ago* (last edited 8 months ago)

250k is probably below the average pay for an Apple engineer, not to mention other costs and benefits. ICT3 numbers (just above entry level SDE) are 230k and ICT4 are 340k. 500k isn't that difficult at the more competitive software companies located in tier 1 and 2 markets. But yes, CEOs and E levels make far too much for their impact.

[–] HootinNHollerin@lemmy.world 8 points 8 months ago* (last edited 8 months ago)

As an (mechanical) engineer, this is bullshit