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Jobs Falls Big in Calif. Exec Pay Scale
by , 7:00 AM EDT, May 31st, 2005
Apple CEO and company co-founder Steve Jobs fell from 1st to 99th on the The Los Angeles Times' annual executive pay survey.
Jobs is next to last on the new list. But the rankings are somewhat deceiving when you take into account Mr. Jobs is compensated only US$1 a year despite having 10 million shares in company stock and a company-paid jet. Based on Friday's per share market close, the stock is currently worth $406 million.
The Apple co-founder was first in last year's survey thanks to restricted stock grants he got in 2003 through what the company's board labeled "a new retention and incentive plan."
Newcomers to the list included Charles Carey, CEO at DirecTV, with a salary last year of $33.5 million, and Eli Harari, head of SanDisk Corp., who earned $20.2 million last year, mostly from the estimated value of stock options.
The Times annual survey examined pay packages at California's 100 largest public companies, then ranked the executives based on what their take home pay in the latest fiscal year.
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