Apple CEO Tim Cook earned $98.7 million USD (roughly $125 million CAD) last year, according to a proxy statement filed by the company.
Cook’s salary stayed consistent at $3 million ($3.8 million CAD) but saw the addition of $82.3 million (roughly $104 million CAD) in stocks, and $13 million ($16.4 million CAD) in other compensation, including incentives. This is almost seven times his 2020 pay and eight-and-a-half times his 2019 pay.
The increase in pay is reflective of Apple’s general success over the last year. When stock markets opened for the first time this year, Apple became the most valuable company in the world when it was (momentarily) valued at $3 trillion USD.
But this success wasn’t reflected throughout the company. As The Verge reports, Apple employees were vocal about a number of issues last year, including transparency on pay equity. Employees also launched a website to share statements on alleged mistreatment they faced at the company.
The statement further goes on to say the median compensation for employees in 2021 was $68,254 (roughly $86,000 CAD). This includes base salary, bonuses, and commissions. The compensation ratio between Cook and employees is 1,447 to 1.
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