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The thing is Steve Jobs was taking a $1 salary. Even if you can find a great CEO with a great plan with your company, I don't think paying him 10M$ instead of
by eloisant 9y ago
The thing is Steve Jobs was taking a $1 salary.
Even if you can find a great CEO with a great plan with your company, I don't think paying him 10M$ instead of 500k will make him more efficient or be necessary to retain him.
Also I don't think the CEOs salaries are a results of competition for the best (like tech workers), but CEO being generous with themselves (and their peers as they're all in each others' board).
- bluGill 9y agoYou are correct, but that doesn't invalidate anything I said. If someone is a great CEO for you, and they tell you they will retire to a less stressful job unless you pay them $10m it is worth it, even though you know next year (and $10m richer) they will retire. Their success over that one year should more than make up the money you spend. Of course this assumes that one more year of development is required for the next CEO to be ready. Great CEOs try to have a replacement (or several) in training at all times. Note that I'm assuming a great CEO - most are not great.
- mratzloff 9y agoJobs demanded a $40 MM private jet and large equity increases from the board.
- eloisant 9y agoI'm pretty sure he was well compensated, but still - the success he had at Apple was not a consequence of his compensation. And I don't think he was more expensive than the previous Apple CEO (Gil Amelio?) or any alternative they had at the time.