How was Google boss's 2022? He got paid $226M as stock awards kicked in
(2023/04/24)
- Reference: 1682339174
- News link: https://www.theregister.co.uk/2023/04/24/google_boss_paid_226_million/
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Timing is everything, and confirmation via a regulatory filing that Alphabet and Google boss Sundar Pichai’s total compensation package swelled to $226 million in 2022, comes - awkwardly - during a period of company belt-tightening.
Base salary for the big boss was unchanged at $2 million, however, it was the [1]triennial stock awards of $218 million that made up the bulk of his financial package. This was approved by the Equity Awards Committee in December, before Google launched its mega cost reduction strategy public the next month.
Back in 2019 when the last three-year stock award was implemented, Pichai was awarded a total of $281 million - nice work if you can get it. Pichai’s compensation also included $5.947 million for security detail, which is considerably less than Meta fork out to keep Mark Zuckerberg safe.
[2]
Word of the bumper payout comes amid a challenging time for Google: it hired heavily during the early years of the pandemic, growing from 120,000 employees to 187,000 from early 2020 to September.
[3]
[4]
When he announced [5]12,000 job cuts in January , Pichai said Google had hired for a “different economic reality to the one we face today.” The layoffs were made across the company. In addition to mass redundancies, Google is also [6]consolidating real estate , [7]clipping expenses including travel, and doing away with some office perks, at least on certain days.
It is worth noting that Google parent Alphabet still reported net profit of $59.972 billion for calendar 2022, albeit down from $76 billion in the prior year. Revenue fell to $257.6 billion from $282.8 billion.
[8]Microsoft ditches plans for 500,000 sq ft London office
[9]Accenture puts 19,000 staffers' heads on the chopping block
[10]Don't Be Evil, a gaggle of Googlers tell CEO Pichai amid mega layoffs
[11]Average Adobe staffer makes $170k a year, and 185 of them = 1 CEO
[12]Google staff asked to share desk space in latest cost purge
Executive bonuses for 2023 are [13]likely to be cut , Pichai warned Googlers at a town hall meeting in January with sentiments in the technology markets less positive than they have been in recent years.
So how did other Google generals do in 2022? Not nearly as well as the CEO but they won’t be queuing at food banks. CFO Ruth Porat was compensated to the tune of $24.5 million; Prabhakar Raghavan, senior veep for Knowledge and Information, got $37 million, and chief business officer Philipp Schindler got $37 million too.
[14]
The median employee total compensation was $279,802, which equates to a CEO pay ratio of 808:1, which leaves Nadella and co in the metaphorical dirt, and made Pichai one of the best paid exec in corporate America last year.
Get our [15]Tech Resources
[1] https://www.sec.gov/Archives/edgar/data/1652044/000130817923000736/lgoog2023_def14a.htm
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://www.theregister.com/2023/01/20/google_to_chop_12000_employees/
[6] https://www.theregister.com/2023/03/07/wfh_google_clouds_offices_empty/
[7] https://www.theregister.com/2023/04/04/google_cost_cutting/
[8] https://www.theregister.com/2023/04/05/microsoft_ditches_plans_for_500000/
[9] https://www.theregister.com/2023/03/24/accenture_19000_layoffs/
[10] https://www.theregister.com/2023/03/20/dont_be_evil_a_gaggle/
[11] https://www.theregister.com/2023/03/20/adobe_pay/
[12] https://www.theregister.com/2023/02/23/google_staff_asked_to_share/
[13] https://www.theregister.com/2023/01/24/google_exec_bonuses_cut/
[14] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[15] https://whitepapers.theregister.com/
Base salary for the big boss was unchanged at $2 million, however, it was the [1]triennial stock awards of $218 million that made up the bulk of his financial package. This was approved by the Equity Awards Committee in December, before Google launched its mega cost reduction strategy public the next month.
Back in 2019 when the last three-year stock award was implemented, Pichai was awarded a total of $281 million - nice work if you can get it. Pichai’s compensation also included $5.947 million for security detail, which is considerably less than Meta fork out to keep Mark Zuckerberg safe.
[2]
Word of the bumper payout comes amid a challenging time for Google: it hired heavily during the early years of the pandemic, growing from 120,000 employees to 187,000 from early 2020 to September.
[3]
[4]
When he announced [5]12,000 job cuts in January , Pichai said Google had hired for a “different economic reality to the one we face today.” The layoffs were made across the company. In addition to mass redundancies, Google is also [6]consolidating real estate , [7]clipping expenses including travel, and doing away with some office perks, at least on certain days.
It is worth noting that Google parent Alphabet still reported net profit of $59.972 billion for calendar 2022, albeit down from $76 billion in the prior year. Revenue fell to $257.6 billion from $282.8 billion.
[8]Microsoft ditches plans for 500,000 sq ft London office
[9]Accenture puts 19,000 staffers' heads on the chopping block
[10]Don't Be Evil, a gaggle of Googlers tell CEO Pichai amid mega layoffs
[11]Average Adobe staffer makes $170k a year, and 185 of them = 1 CEO
[12]Google staff asked to share desk space in latest cost purge
Executive bonuses for 2023 are [13]likely to be cut , Pichai warned Googlers at a town hall meeting in January with sentiments in the technology markets less positive than they have been in recent years.
So how did other Google generals do in 2022? Not nearly as well as the CEO but they won’t be queuing at food banks. CFO Ruth Porat was compensated to the tune of $24.5 million; Prabhakar Raghavan, senior veep for Knowledge and Information, got $37 million, and chief business officer Philipp Schindler got $37 million too.
[14]
The median employee total compensation was $279,802, which equates to a CEO pay ratio of 808:1, which leaves Nadella and co in the metaphorical dirt, and made Pichai one of the best paid exec in corporate America last year.
Get our [15]Tech Resources
[1] https://www.sec.gov/Archives/edgar/data/1652044/000130817923000736/lgoog2023_def14a.htm
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[5] https://www.theregister.com/2023/01/20/google_to_chop_12000_employees/
[6] https://www.theregister.com/2023/03/07/wfh_google_clouds_offices_empty/
[7] https://www.theregister.com/2023/04/04/google_cost_cutting/
[8] https://www.theregister.com/2023/04/05/microsoft_ditches_plans_for_500000/
[9] https://www.theregister.com/2023/03/24/accenture_19000_layoffs/
[10] https://www.theregister.com/2023/03/20/dont_be_evil_a_gaggle/
[11] https://www.theregister.com/2023/03/20/adobe_pay/
[12] https://www.theregister.com/2023/02/23/google_staff_asked_to_share/
[13] https://www.theregister.com/2023/01/24/google_exec_bonuses_cut/
[14] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_offprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZEanqGBJMHVlUwbMP0qLiAAAAI4&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[15] https://whitepapers.theregister.com/
Re: Nobody
Anonymous Coward
I am. Give it to me and I'll show you.
/s
Stuart Castle
That's where I think we have gone wrong as a society. $226M could help a *lot* of people, but instead it's likely going to site doing nothing in some tax haven.
IglooDame
I'd like to think that if it were me in that position, I'd at least be covering my personal security bills out of my own pocket. Admittedly that could be the paranoia talking, rather than some semi-profound embarassment at making more in a single day than most of the people that I (in my little fantasy) lead make in an entire year.
Fair for the exposure
Anonymous Coward
These execs are paid mega buck as they are responsible for the whole organisation and will be held accountable for all its miss-doings!
Oh, silly me, this is the USA and only the minimum wage scapegoat will face the music for the corporate issues.
Nobody
And I do mean nobody, is worth that sort of money.