The CEO of Alphabet Inc, the holding company of Google, Sundar Pichai, witnessed a substantial increase in his salary package in 2022 with a total of $226 million, making him one of the maximum-paid corporate leaders(CEO) worldwide. The central amount of Pichai’s pay package was a triennial stock grant of $218 million. In 2021, Pichai got a pay package of $6.3 million, and his salary remained the same at $2 million for the last three years.
The salary package awarded to Alphabet Inc. Chief Executive Officer(CEO) Sundar Pichai raised $226 million in 2022, enhanced by a triennial stock grant.
19% Increase
Pichai’s stock award got for three years, and he achieved almost the same sized salary package in 2019, where he was granted $281 million. Despite confronting the most prominent competition from AI products by OpenAI’s ChatGPT, Pichai was the leading leader through his challenging times.
The extensive tech slowdown affected the company’s existing shares, which decreased by 39% in 2022. yet, the shares recovered and rose by around 19% in 2023.
According to an index from the Google parent company Friday, the stock award of his pay granted to $218 million, and he received a total of $6.3 million in remuneration in 2021 when he didn’t get the award, his salary remained constant at $2 million in the last three years.
Average Employee Salary $2,95,884
According to the Securities and Exchange Commission database, the standard salary for Alphabet’s ordinary employees last year was almost $2,95,884. Compared to America’s 20 most prominent tech companies, Alphabet gives its employees around 153 per cent salary more than its competitors.
Detail Review
The 50-year-old CEO is steering a competitive initiative, with chatbot ChatGPT an AI product from OpenAI, endangering to sabotage Google’s authority in search engine. A more general tech slowdown carried a toll on the company, with its shares gliding 39% in 2022. Nevertheless, they have ascended a comeback in 2023, growing 19%.
Pichai’s stock grant comes on a three-year package, and he got almost a likewise sized package in 2019. That year, this executive was awarded $281 million.
Ceo Compensation In The Tech Industry
CEO salary has become a sensitive issue in the tech world, with current layoffs at Alphabet and other tech enterprises.
- Apple Inc.’s CEO Tim Cook cut his pay in 2023 after acquiring solid criticism for making a $100 million salary each of the last two years.
- Pichai’s package sets him nicely above other executives at Alphabet, like senior vice presidents of Google, Mr Prabhakar Raghavan and Mr Philipp Schindler, making almost $37 million, and CEO Ruth Porat’s payment of $24.5 million.
Alphabet’s Job Cuts And Median Total Compensation
- In January 2022, Alphabet began cutting 12,000 jobs, or decreasing 6% of its global force, pursuing months of other steps to reduce payout and develop new priorities.
- The median complete compensation for Alphabet workers was $279,802 in 2022, with Pichai’s reward being 808 times that amount.
- As part of his reward package, Alphabet spent almost $5.94 million on Pichai’s security.
- CEO compensation became a touchy matter in technology— particularly after a wave of dismissals at Alphabet and different significant companies.
- Pichai’s pay package set him above further managing directors of Alphabet in 2022.
- Philipp Schindler (chief business officer) and Prabhakar Raghavan (the senior vice president of Google’s) understood and knowledge and accepted about $37 million.
- Ruth Porat’s (Chief Financial Officer ) payment was $24.5 million.
- Their stock grants are handed out on annual grounds.
What Does Sundar Pichai Say About Another Layoff?
In mid-March, nearly 1,400 Alphabet Inc employees write an open letter to CEO Sundar Pichai, urging better staff behaviour. At the same time, the layoff process continues, and good respect for workers’ voices, as the effect of Alphabet’s decision to consolidate its workforce is multinational.
While many workers in the United States encountered immediate termination, the procedure has been gradual for countries with more decisive labour protection rules. Despite the complaint, Sundar Pichai upheld the company’s role in an email to workers, acknowledging that the company hired for a “different economic reality than the one we face today” and accepted “full responsibility” for the judgment.
