Apple’s Tim Cook gets a $6.7m bonus

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Apple CEO Tim Cook is taking home a $6.7m bonus this year – as well as a $1.7m salary and $774,176 in “other compensation”. Forget belt tightening – he should be switching to sweatpants.

timcook

According to PhysOrg, the hefty bonus – which works out at about £4.5m – is perhaps due to the iPhone 6 selling so well. Apple as a whole reported a $39.5bn profit last year. In total, Cook therefore took home about $9.2m. That’s enough for 46101 iPhone 6s (without applying any staff discounts) – with enough change left over for a nice case or spare Lightning connector.

According to ZDNet the average salary for someone working in the Chinese Foxconn factory at the end of 2013 (these are the latest figures I could find) was around 4400RMB a month – which at today’s exchange rate converts to $706.41. So that’s $8476.92 a year – meaning Chinese workers would have to work for over 1000 years to earn Cook’s salary.

Apparently the other top executives were similarly well remunerated.

James O’Malley