Tim cooking up the dough as his Apple pay rises 18% to $74.6M
- Reference: 1736859611
- News link: https://www.theregister.co.uk/2025/01/14/tim_cook_apple_salary/
- Source link:
The total remuneration package consisted of a $3 million base salary – unchanged in recent years – as well as $58.1 million in stock awards, $12 million in non-equity incentive plan compensation, and $1.52 million in terms of all other compensation.
Apple quietly admits 8GB isn't enough in 2024, M4 iMac to ship with 16GB as standard [1]READ MORE
This compared favorably to $63.2 million the Apple CEO made in 2023 but less so to the near $100 million that Steve Jobs' successor was handed in 2022. Still, with a net worth of $2.5 billion, it's doubtful Cook ever blinks at the fluctuating financial figures.
"Mr Cook's performance, as well as Apple's significant size and scope, support the positioning of Mr Cook's total target compensation within this targeted range," Apple says in its [2]Notice of 2025 Annual Meeting of Shareholders and Proxy Statement. [PDF]
Presiding over one of the most valued brands on the stock market, with a market capitalization of $3 trillion, comes with its own set of pressures and rewards. It was a decent year for [3]Apple [PDF] with net sales up 2 percent to $391 billion and operating income up 8 percent to $123.2 billion.
[4]
Other highlights include Apple Services reaching an all-time high, up 13 percent to $25.12 billion, and gross margin growing 2.1 percent to 46.2 percent. Those reassuringly expensive Macs no doubt played a part here, the installed base of devices reaching 2.2 billion – all the better on which to peddle those services as Apple reported more than one billion subscribers.
[5]
[6]
Perhaps more importantly, Apple returned some $11 billion to shareholders in the year.
[7]Microsoft CEO Nadella's compensation drops... to $48M
[8]HP CEO pay for 2023 = 270,315 printer cartridges
[9]Nvidia chief Huang given 60% pay increase amid AI hysteria
[10]IBM CEO pay jumps 23% in 2023, average employee gets 7%
In addition, the [11]iPhone 16 debuted, coming loaded with Apple Intelligence – first in the US, before landing in the UK last month and [12]upsetting the BBC . The GenAI software comes to the European Union in April, belatedly, due to regulatory concerns and the Digital Markets Act (DMA). Apple said it is worried the DMA "could force us to compromise the integrity of our products in ways that risk user privacy and data security."
Other, erm, successes include Apple Vision Pro VR goggles reaching 13 markets. Unlucky for some.
Others in the C-suite didn't get anywhere near matching the CEO's pay package. Former chief financial officer Luca Maestri got $27.1 million, up from $26.9 million, and chief operating officer Jeff Williams was roughly in the same ballpark.
[13]
It's tough at the top. ®
Get our [14]Tech Resources
[1] https://www.theregister.com/2024/10/28/apple_imac_m4/
[2] https://d18rn0p25nwr6d.cloudfront.net/CIK-0000320193/d5ac8341-3708-4b1d-89f5-6a0dcec45aa0.pdf
[3] https://www.apple.com/newsroom/pdfs/fy2024-q4/FY24_Q4_Consolidated_Financial_Statements.pdf
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2Z4aYNiqfLBQIO550D_86eAAAAQY&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44Z4aYNiqfLBQIO550D_86eAAAAQY&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[6] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33Z4aYNiqfLBQIO550D_86eAAAAQY&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[7] https://www.theregister.com/2023/10/20/microsoft_ceo_nadellas_compensation_drops/
[8] https://www.theregister.com/2024/02/15/hp_ceo_pay_for_2023/
[9] https://www.theregister.com/2024/05/16/nvidia_chief_huang_gets_60/
[10] https://www.theregister.com/2024/03/15/ibm_ceo_pay_jumps_23/
[11] https://www.theregister.com/2024/09/23/iphone_16_teardown_ifixit/
[12] https://www.theregister.com/2025/01/07/apple_responds_bbc_complaint/
[13] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/personaltech&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44Z4aYNiqfLBQIO550D_86eAAAAQY&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[14] https://whitepapers.theregister.com/
Re: Comparison
I suspect it compares favourably to any single employee, not just the average.
I can never fathom how some executives get a double digit percent rise of their already sometimes stupid number pay, whereas the workers have to fight for a 4% rise to their often meagre pay. We're all equal in that there's only so many hours in a day, it's not as if Tim can do more hours work in a day than his office cleaner. Shit! I sound like some commie loon!
Thats simple. Cost x Volume. Its always going to be simpler to justifiy an eye watering increase for 1 person versus a meager increase for thousands because guess which one hits the bottom line more?
Its especially easy when you have to look the one person in the eyes vs averting your gaze from the unwashed masses.
It's all down to perceived value to the company. Fire any one ordinary peon and neither the company or the stock price will notice. Fire the CEO and it should have more of sn impact.
>I can never fathom how some executives get a double digit percent rise
We did ask the CEO in charge of setting the level of the CEO pay rise but they haven't replied
Why is executive pay refered to as "compensation"?
Compensation for not being on their yacht or on the golf course.
Because it's usually not just simple pay, but instead things like RSUs, et cetera. They can take a nice pay cut, but their “compensation” rises and rises, for example. To hell with them all, the spongers.
Tax efficient remuneration package!!
The total remuneration package consisted of a $3 million base salary – unchanged in recent years – as well as $58.1 million in stock awards, $12 million in non-equity incentive plan compensation, and $1.52 million in terms of all other compensation
Only the $3 million base salary is taxed as pay, the rest is tax in a different way, and I would guess at a lot lower rate too.
Re: Tax efficient remuneration package!!
There were laws introduced in the Clinton administration (IIRC) to limit CEO "pay"
In lots of white collar jobs pay and benefits are referred to as compensation. Covers things like Private Healthcare, stock options, pension contributions and the like....
One of my previous employers policies was never to refer to your gross or net salary but always Total Comp (-ensation) - so they could inflate it to some ridiculously large number you would never see or need until you told the recruiter for your next job "my total package is worth X".
Useful of HR to supply it for me ;)
screw tim apple the trump turd gurgler.
never bought any apple shit
Oooo you're nice.
If I were to use your charming vernacular I think most reasonable Non-AC's would suggest that Tim and Apple are gurgling less Trump turds than the rest of the whole sorry US IT industry.
Cripes...
I thought the picture was of Max Headroom.
Elon Musk wants about 700 times as much for running Tesla. That is for every day he wants about twice Cooks annual income. Twice rejected by courts, now we’ll see what Trump does about that.
And that Tesla job is not even a full time job.
Think how little time he'll be able to work in Tesla while he's busy ripping about the federal government, and getting that house in order. They better pay him even more, so he remains interested. It's the only way!
There are different sorts of people I suppose. I can't comprehend what keeps these people going.
If I had the multi-millions I would find a nice property with space for a four post lift and about a tennis courts worth of indoor parking/workshop and retire there.
Which is why I'll never have the multi-millions.
>Elon Musk wants about 700 times as much for running Tesla.
Well to be fair, Apple has an excellent product line beloved of it's customers and an insanely profitable captive app-store and streaming market.
Tesla is a disastrously unprofitable company, with a disastrous production line and new product launches that are a laughing stock and many competitors making much better offerings that can only be kept out by tariffs.
So Musk deserves much more money for having to manage this shit sandwich
He could buy 49,766 and a half MacBook Pros
Does that allow for staff discount?
RAM upgrade
He might be able to buy all those macbook pro's but he will need another pay rise to double the RAM on them and then they might be useable state.
Re: RAM upgrade
I can't currently think of any other context in which I'd get to type the start bit, so: **thanks to AI** Macs finally have a floor of 16gb. Even those that currently have a ceiling of 24gb.
Comparison
How does his 18% pay rise compare to the average Apple increase?
Quite favourably, I'd wager