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Nov132010

Salaries of Google Execs Raised by 30% for 2011, Sergey Brin, Larry Page, Eric Schmidt Keep $1 Salary

According to a Sec filing several top executives at Google will soon pick up equity awards valued at more than $50 million total, as well as 30% pay raises for 2011.

“Patrick Pichette, SVP and CFO, and Nikesh Arora, President, Global Sales, will each get a $20 million equity award on December 1st. Alan Eustace, svp, engineering & research will get a $10 million equity award, and Jonathan Rosenberg, svp, product management will get a $5 million award. Equity awards are given in the form of stock options.”

The group of above four executives is also getting matching pay raises of $150,000 for 2011 — increasing their salaries 30%, from $500,000 to $650,000 per person. Google’s also raising the target bonus percentage for all four from 150% to 250% of base salary, which could add another $1.625 million for each if personal and company goals are met next year (and if my math is correct).

CEO Eric Schmidt and co-founders Sergey Brin and Larry Page will each take $1 salaries in 2011, and none of the three are getting equity awards. They’ve also declined to take part in the executive bonus plan.

Reference: Sec Filing

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