Some Top Google Executives Get 30 Percent Raises
The same week that Google reportedly offered all employees 10 percent raises, it boosted pay for some senior executives by 30 percent.
According to a filing with the U.S. Securities and Exchange Commission, Google executives including Patrick Pichette, chief financial officer; Nikesh Arora, president of global sales and business development; Alan Eustace, senior vice president of engineering and research; and Jonathan Rosenberg, senior vice president of product management, saw their salaries go up to US$650,000 from $500,000. The raises are effective on Jan. 1.
They will also get a boost in their potential bonuses from 150 percent of their base salaries to 250 percent.
Top executives Eric Schmidt, CEO; Sergey Brin, president of technology; and Larry Page, president of products, will keep their base salaries of $1 each. Those executives don't receive bonuses. All three are listed among the 400 richest Americans by Forbes magazine.
The top three also won't get equity grants like the others. Pichette and Arora will get $20 million worth of stock and stock options on Dec. 1. Eustace gets $10 million in equity and Rosenberg $5 million.
The executive awards announcement comes the same week that Google reportedly gave a blanket 10 percent raise to all employees. Google didn't confirm the companywide raise, which was first reported by Silicon Alley Insider.
Google has been one of the most desirable technology companies to work for but has lost some notable employees recently. For example, Omar Hamoui, the founder of AdMob, which Google acquired, recently left Google. Another high-profile departure was Lars Rasmussen, known for his work on Google Maps, who recently joined Facebook.