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Tuesday, 21 June 2011 11:51

Tech CEOs awarded higher salaries in 2010

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It’s a tough life
The crisis is over, at least judging by a jump in CEO salaries reported by major market players.

In 2010 average CEO salaries in 150 top tech companies rose 37 percent, more than in any other industry sector. So, Silicon Valley bosses are rolling in the green once again, but some are still a bit more equal than others.

Despite the fact that he took a 17 percent pay cut, Oracle’s Larry Ellison still tops the list with more than $70 million earned in 2010. Basically good old Larry made more than $190,000 a day, weekends and holidays included.

Atmel’s Steve Laub made $19.4 million, Cisco boss John Chambers had to make do with just $18.9 million, while Intel’s Paul Otellini ended the year with $15.5 million more in his chequebook. Gilead Sciences CEO John Martin made $14.2 million.

Now here are some interesting facts worht contemplating. When the global financial crisis struck, median CEO salaries dipped by 6 percent in 2008 and 5 percent in 2009. Hence, a 37 percent increase in 2010 sounds like a lot, especially as the average increase for all workers was 20 times lower. Not to mention the thousands of poor souls who lost their jobs in 2008 and early 2009.

More here.

 

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