New Delhi: Boss Apple Inc.
Boss Tim Cook in 2021 is 1,447 times from the average employee at Giant Tech, submission on Thursday showed, driven by the stock award that helped him get a total of almost $ 100 million.
In 2021, paying median for employees was $ 68.254, said Apple, added that it had chosen a new median employee for comparison because of changes in recruitment and compensation.
Pay median in 2020 was $ 57,783 and a salary ratio was 256 times the salary of the cook.
The iPhone maker has benefited from strong demand for its products and services for the past two years as consumers who work from home shell out on an upgrade.
Apple’s income rose more than 30% to $ 365.82 billion for Fiscal 2021, which prompted its shares to briefly cross $ 3 trillion in market capitalization this year.
Cook, whose salary remains at $ 3 million, received $ 82.3 million in a stock award, $ 12 million to hit Apple’s target and $ 1.4 million for air travel plans, 401 (k), insurance premiums and others.
In total, he received $ 98.7 million compared to $ 14.8 million in 2020.
Cook took over in August 2011 after the founder of Steve Jobs’s company resigned from his death.
Apple shares have surged more than 1,000% since then.
In September, Cook received 333,987 limited stock units, in his first stock grant since 2011 as part of a new long-term equity plan.
He will be eligible to receive additional units based on performance in 2023.
For American companies, CEOs are paid 351 times more than typical workers in 2020, a report by the Institute of Economic Policy shows.