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Apple's Tim Cook is Bay Area's Highest Paid CEO

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Apple's Tim Cook is Bay Area's Highest Paid CEO

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CUPERTINO, CA - OCTOBER 20: Apple COO Tim Cook speaks during an Apple special event at the company's headquarters on October 20, 2010 in Cupertino, California. Apple announced a new version of it's iLife suite and is expected to announce a new operating system for its Mac computers. (Photo by Justin Sullivan/Getty Images)

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Apple chief executive Tim Cook was paid $378 million in 2011, making him the highest paid CEO of a publicly traded company in the Bay Area, according to reports.

Cook beat out Oracle chief Larry Ellison's $77.5 million, according to the San Jose Mercury News. If $378 million sounds like a fantastic number, it is. Cook's actual take-home salary is $1.8 million and the rest of the money is tied up in 1 million shares of Apple stock that will vest in 10 years.

Similarly, Ellison's take home pay is $14.9 million, with $62.6 million in stock options. Nonetheless that number still dwarfs the median $3 million salary for most Bay Area CEOs -- a 7 percent increase from $2.8 million in 2010.

Others included No. 9,  Intel's Paul S. Otellini  with $17.2 million; No. 10 HP's Meg Whitman with $16.5 million; No. 11 John J. Donahoe  of EBay with $16.5 million; No. 13 AMD's Rory P. Read made $15.6 million; and No. 16 Cisco's John T. Chambers, who made $12.9 million last year..

 
The survey of 198 companies with chief executives having been with the company two years or more showed that 100 CEOs got a raise, 62 had reduced pay and five stayed about the same  
 
CEOs seem to be doing well in the Bay Area, with more sure-thing raises and perks than their lowlier workers. However some, including former Yahoo CEO Scott Thompson, who left after only four months on the job -- and $6.8 million richer -- seemed to get paid an awful lot for not much of anything.
 
 
 

 

 

 

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