Sundar Pichai, CEO of Alphabet & Google, has been named as one of the highest-paid executives in the world in 2019. Pichai’s annual compensation was worth $281 million which is approximately Rs 2,145 crore. This brings up his per day earnings to approximately Rs 6 crores.
The data was shared by Alphabet Inc. in a recent regulatory filing. The filing also states that his compensation is 1085 times the average of total pay of Alphabet employees.
Effective from January 1, Pichai’s base salary rose from $650,000 to $2 Million. As per the filing, the Leadership Development and Compensation Committee made increased his compensation in recognition of his expanded role as CEO of Alphabet and Google.
Apart from an increase in his annual pay, Pichai also received a $90 million PSU award. Aside from this. he also received GSU awards including $120 million (vesting quarterly in 12 equal installments starting March 25, 2020) and $30 million awards (vesting quarterly in 4 equal installments).
It is noteworthy that since a vast majority of his compensation package is stock awards, some of which will be paid out depending on the company’s stock return relative to other companies in the S&P 100 index, which means his earning may increase or decrease dependably.
However, as per IANS recent report, CEOs of other large companies earned less than $200 million in recent years, as per compensation tracked by Equilar.
In the wake of the coronavirus pandemic and its adverse effect on the global economy, Pichai may have to take some steps to ensure that the company stands strong. These steps might include cutting back on its marketing extravagance and hiring process in 2020.
