Google bigwigs get executive pay boost
Four of Google’s leading executives are set for a massive 30 per cent pay rise next year, a filing has revealed.
It was revealed last week all employees at Google would be getting a 10 per cent pay rise, as well as a $1,000 (£622) bonus. However, the higher echelons are set to get a massive 30 per cent hike in wages in 2011.
The extra cash will go to four of Google’s top executives and bring their salaries up from $500,000 to $650,000.
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 $20 million for Pichette and Arora, $10 million for Eustace and $5 million for Rosenburg.
Chief executive (CEO) of Google Eric Schmidt, along with founders Larry Page and Sergey Brin, continue to keep a $1 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 $3.5 million to stop him making the move.