Bloomberg Businessweek has reported that four out of the five highest-paid employees work for Apple, but surprisingly Tim Cook isn’t one of these 5.
According to fiscal 2012 compensation figures for top earners filed with the U.S. Securities and Exchange Commission the four executives from Apple include Bob Mansfield, Bruce Sewell, Jeffrey Williams and Peter Oppenheimer.
Mansfield — who is the Senior Vice President of Technologies – was the highest earner out of the four Apple employees, receiving $85.5 million during 2012. Coming in at a respectable second was Sewell, Senior Vice President, who earned $69 million.
Williams, Apple’s senior vice president of operations, earned only slightly lower with his earnings just around the $68.7 million mark. And lastly was Oppenheimer, the chief financial officer, earning $68.6 million.
It is important to keep in mind these figures are based around each executives base salary, bonus, equity and other benefits for the 2012 fiscal year, but they are impressive to say the very least.
The reason why these executives have such hefty earnings is because it is Apple’s retention strategy to keep key executives who were present in the Steve Jobs era. This ensures that the talents the bring are retained, and also to just retain confidence in leadership. If a lot of key executives moved on after Jobs passing, it would have been rocky times for Apple to say the least as Tim Cook transitioned into the role of CEO.
Speaking about Tim Cook, as mentioned previously, Tim Cook isn’t one of the 5 highest-paid employees, he actually comes in at 1,016, making $4.17 million last year. When you count the restricted stock awards he received last year however, which are set to vest over the next decade, Cook will have in his possession a whopping $378 million.