7 ms·

$600k over 5 years is a big amount of money, but probably fairly small compared to his TC as a senior director. Not a great risk/reward tradeoff

rot13xor 4y ago
He probably didn't think he'd get caught or ego.
walrus01 4y ago
anyone want to make a guess at what this guy's gross W2 salary was?
- phphphphp 4y ago
  Considering he started there in 2008 when the market cap of apple was <$100bn I’m going to guess it was low 6 figures and that the insider trading represented a meaningful amount of money to him.
  - refulgentis 4y ago
    Cosign, usually wouldn't write a content-free post but this is downvoted yet aligns with my semi-informed understanding
scrose 4y ago
It’s worth considering that this is likely not the whole story. If he was corrupt enough to do this himself, there’s a non-negligible chance he had plenty of other family and/or friends who were also likely trading on privileged information and which he may have had some other beneficial deals with that haven’t been found out
- SrslyJosh 4y ago
  Unless he's incredibly dense, I imagine that all of the trades were actually made by friends, family, or outside accomplices.
gowld 4y ago
It was too easy. Imagine if every day you walked past a newsstand, and for some reason there is an envelope with $100K in cash there, every day, all the time. It's totally illegal to take it, but it's right there in front of you, and so easy to grab, and no one's going to notice...probably.
- cpncrunch 4y ago
  >and no one's going to notice...probably. Except someone usually does eventually notice, and most people are smart enough to realise this.
cptaj 4y ago
Thats what they pinned him for.
paulpauper 4y ago
apple is famous for not paying that well. this is not google.
- metadat 4y ago
  Uhm, no? This is false. Apple is literally swimming in money; my friends who work there are compensated well enough to buy one or more houses in the Bay Area. That's no small feat.
  - namecheapTA 4y ago
    My father works construction and owns two houses in California, both paid off even. Although in the central valley. If an apple engineer can't buy a house or two in the bay area, who can?
- wly_cdgr 4y ago
  ??? According to Levels, ICT5 at Apple is ~$440k TC averaged over more than 150 datapoints. That's not even management... I think it's safe to say that $600k couldn't have been more than 20-25% of his TC over 5 years, IF that. Absolutely braindead to take that huge a risk for that little reward (not to mention a deeply shitty thing to do given his position, obv). That's not even close to 1x, never mind an order of magnitude!
  - daniel-cussen 4y ago
    There's companies handling publicly available salary information for them, better than Levels can fight back against them. Same with Glassdoor. Coopting both. And the data isn't objective, they show different averages to different people. Same firms handle both, they're on the same lists, part of PR budget. But it does give a vague idea. Better than that get a better picture from the Bureau of Labor Statistics that does in fact compile that information for each job and is much harder to fuck with, it's illegal in fact. Salary data on this forum seem pretty inflated, well it's very warped. It's all to make it seem there's a giant pot of gold at the end of the rainbow if your program compiles and you "get hired."

rot13xor 4y ago

He probably didn't think he'd get caught or ego.

walrus01 4y ago

anyone want to make a guess at what this guy's gross W2 salary was?

phphphphp 4y ago
Considering he started there in 2008 when the market cap of apple was <$100bn I’m going to guess it was low 6 figures and that the insider trading represented a meaningful amount of money to him.
- refulgentis 4y ago
  Cosign, usually wouldn't write a content-free post but this is downvoted yet aligns with my semi-informed understanding

scrose 4y ago

It’s worth considering that this is likely not the whole story. If he was corrupt enough to do this himself, there’s a non-negligible chance he had plenty of other family and/or friends who were also likely trading on privileged information and which he may have had some other beneficial deals with that haven’t been found out

SrslyJosh 4y ago
Unless he's incredibly dense, I imagine that all of the trades were actually made by friends, family, or outside accomplices.

gowld 4y ago

It was too easy. Imagine if every day you walked past a newsstand, and for some reason there is an envelope with $100K in cash there, every day, all the time. It's totally illegal to take it, but it's right there in front of you, and so easy to grab, and no one's going to notice...probably.

cpncrunch 4y ago
>and no one's going to notice...probably. Except someone usually does eventually notice, and most people are smart enough to realise this.

cptaj 4y ago

Thats what they pinned him for.

paulpauper 4y ago

apple is famous for not paying that well. this is not google.

metadat 4y ago
Uhm, no? This is false. Apple is literally swimming in money; my friends who work there are compensated well enough to buy one or more houses in the Bay Area. That's no small feat.
- namecheapTA 4y ago
  My father works construction and owns two houses in California, both paid off even. Although in the central valley. If an apple engineer can't buy a house or two in the bay area, who can?
wly_cdgr 4y ago
??? According to Levels, ICT5 at Apple is ~$440k TC averaged over more than 150 datapoints. That's not even management... I think it's safe to say that $600k couldn't have been more than 20-25% of his TC over 5 years, IF that. Absolutely braindead to take that huge a risk for that little reward (not to mention a deeply shitty thing to do given his position, obv). That's not even close to 1x, never mind an order of magnitude!
- daniel-cussen 4y ago
  There's companies handling publicly available salary information for them, better than Levels can fight back against them. Same with Glassdoor. Coopting both. And the data isn't objective, they show different averages to different people. Same firms handle both, they're on the same lists, part of PR budget. But it does give a vague idea. Better than that get a better picture from the Bureau of Labor Statistics that does in fact compile that information for each job and is much harder to fuck with, it's illegal in fact. Salary data on this forum seem pretty inflated, well it's very warped. It's all to make it seem there's a giant pot of gold at the end of the rainbow if your program compiles and you "get hired."