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Literally, nothing is unreasonable for Apple. They're among the richest companies on the planet. I'm over Corporate Equity and treating them the same as the mom
by 015a 5y ago
Literally, nothing is unreasonable for Apple. They're among the richest companies on the planet. I'm over Corporate Equity and treating them the same as the mom & pop grocery store down the street. Yeah, it'd be unreasonable for small businesses.
Its not unreasonable for Apple. Tim Cook could personally, out of his own salary, pay the salaries of every Apple employee in New York. He could give them all a 200% raise, and he'd still make twenty times more than ICU nurses who work 20 hour shifts to save his life if he ever needs it.
As an employee, it would help me feel pride to contribute toward a company that is willing to not just meet the law, but go beyond it and provide valuable and gainful employment for people like Richard. As a customer, it would make me proud to walk into an Apple Store and work with someone like Richard, to see that Apple were willing to pay an entire second salary simply to be accommodating. Comparatively, the salaries of an entire Apple retail stores' worth of employees is exactly the same as you accidentally dropping your change at a register, a penny rolls under the checkout lane, and you say "nah its not worth it".
Now, the reality of the situation is that, Apple Corporate would probably be fine with this, but the real problem is with this Middle Manager. To be clear, it reflects poorly on Corporate, and its their responsibility to set terms and culture to ensure Bad Store Managers don't pop up. But, they will. What matters is Apple's response, not necessarily the history of what happened (though, six years is a very long time).
- Bud 5y agoYou don't actually know Tim Cook's salary, do you? Please stop pretending that you do. Hint: the vast majority of his compensation is, and has always been, via stock grants.
- kevin_thibedeau 5y agoYou do know that high earners play this game to avoid the sort of tax liabilities ordinary people have to pay? They aren't nobler by taking a $1 salary.
- Bud 5y agoYes. The fact remains that Tim Cook could not do what was claimed out of his salary. Period, paragraph. Just as obvious: Tim Cook wouldn't do this if he weren't confident in his leadership. Apple stock is up more than 10x since he took over.
- iso1210 5y agoTim Cook was paid $264m in 2020 [0] Apple has 4,291 employees in the entire state of New York [1] That's $61,500 per person. The average salary for an "Apple Genius" (one of the people who work at apple stores?) in New York City is $53,230 [0] https://news.ycombinator.com/item?id=28573768 https://news.ycombinator.com/item?id=28573768 [1] https://www.apple.com/job-creation/ https://www.apple.com/job-creation/ [2] https://www.payscale.com/research/US/Job=Apple_Genius/Salary/daae66c4/New-York-NY https://www.payscale.com/research/US/Job=Apple_Genius/Salary...
- rmah 5y agoApple employs 147,000 people directly at the end of FY2020. That's $1,800 per employee that's going to Tim Cook, all up. Which is high, but it is what the owners (via the board of directors) think he's worth.
- Bud 5y agoTim Cook's salary is what we were talking about. So no. Please don't misstate your facts especially when the source you are citing was quite clear.
- iso1210 5y agoOnly the most pedantic arsehole would assume that money given to someone doesn't count as 'salary'
- Bud 5y agoActually, if you bothered to look into this for more than two seconds, which you obviously didn't, you'd discover that Tim Cook has been receiving far less TOTAL compensation than all his peers, as well, for a long time now. And that's without taking his performance into account, which is, of course, obviously the best performance by any CEO in the world. So I'm pedantic and an asshole? Fuck that. Two can play at that game: you're a lazy jerk who paints sloppily with a broad brush.
- 015a 5y ago> In 2020, Tim Cook's compensation included $3M in base pay, a $10.7M bonus, and $250.3M in stock grants. You do understand that, because Apple is a public company, all of this information is literally public knowledge, right? If you'd like to argue that stock grants are not part of a person's salary, that is a reasonable interpretation of the definition of "salary", but hardly relevant to the broader point, which is clearly not to assert that Timmy should open up his checkbook, but rather to illustrate how incredibly inane it is to suggest that a few hundred bucks a week for an hourly interpreter means anything at the scale Apple operates at. [1] https://www.bloomberg.com/graphics/2021-highest-paid-ceos/ https://www.bloomberg.com/graphics/2021-highest-paid-ceos/
- deleted 5y ago[deleted]
- geofft 5y agoDoes the argument meaningfully change if you replace the word "salary" with "compensation"? If not, please stop pretending that you made an interesting point.
- Bud 5y agoYes, it actually does, because the value of his compensation, 98% or so of which is in stock, would be worth over 10 times less right now if it were not for Tim Cook's performance as CEO. That makes a rather big difference, in my view. It also changes the argument meaningfully in a second way: liquidity. Tim Cook can't just go sell all that stock right now, since that would cause a rather big panic and also rob him of a lot of its value. Which means he could not actually pay all those folks' salaries. Whether my point is "interesting" is up to you. Whether it's factual isn't. It's factual.
- ric2b 5y agoReally? What amazing things did Tim Cook do to single-handedly make the company 10x more valuable that another CEO wouldn't have?