The salary of Apple Inc CEO Tim Cook in 2021 was 1,447 times that of the average employee of the tech giant. It reads in a document that showed Cook’s pay inflated by stock premiums that helped him earn a total of nearly $ 100 million.
In 2021, the average salary for employees was $ 68,254. Apple had to recalculate the average employee’s pay due to changes in hiring and compensation. The median salary in 2020 was $ 57,783 and the salary ratio was 256 times Cook’s salary.
The iPhone maker has benefited from the strong demand for its products and services over the past couple of years. Apple’s revenue increased more than 30% to $ 365.82 billion for its fiscal year 2021, which resulted in its shares recently exceeding 3 trillion market cap this year.
Cook in total received $ 98.7 million in salary compared to $ 14.8 million in 2020. The current CEO took office in August 2011 after company founder Steve Jobs resigned months before his disappearance. Shares of Apple have risen more than 1000% since then.