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Facebook Details Executive Salaries, Bonuses
An anonymous reader writes "Facebook has detailed the pay of 27-year-old Facebook co-founder and CEO Mark Zuckerberg as well as four other executives. These are people who are set to be billionaires at least on paper when the company goes public as part of its $5 billion initial public offering (IPO). All five individuals are in line for annual target bonuses of 45 percent of their salary plus other base wages. For Zuckerberg, the bonus could amount to roughly $225,000 this year, based on his annual salary of $500,000."
FTFA "These salaries of course don’t take into account the executives’ stocks in the social networking giant. If you were worried their salaries are on the low side, don’t be."
Oh thank god! I can finally sleep easy tonight. Phew!
It's a great free app that I can choose to use, or not to use. It has brought me in contact with people I haven't talked to for decades. I hope you become fabulously rich. I also hope that Facebook doesn't engineer itself into oblivion before an alternative comes along...
For in politics, as in religion, it is equally absurd to aim at making proselytes by fire and sword. - Publius
FWIW, Jobs only got $1 annual salary, plus lots of stock options (at a "special" rate). Since he didn't get paid a salary that could be taxed, he "borrowed" against his stock and options, which is not taxable until the options are converted to stock, or the stock sold, and then it is "capital gains", and not simple income, at a much lower tax rate... So, in effect, he was paid million$, but had a tax burden much less, percentage-wise, than the rest of us working schlubs!
Those cynics are idiots. His dividend/capital gains are going to be the same whether he has a salary or not. So yeah, he'd have to pay more taxes if he made more money, but he'd... wait for it... make more money! The cynics are right in cases where the employee takes a salary cut but is instead compensated in some other way which is taxed at a lower level.
Bonuses in shares instead of salary are just such compensation taxed at a very low rate and the employee can borrow against the stocks and still come out ahead of paying taxes. The executive is happy. The bank is happy. The government and the people who expect taxation to be fair and just... screwed.
Nobody gets where they are alone. Everyone relies on the society they live in for support. That's why you don't see people like Steve Jobs or Mark Zuckerberg coming out of Somalia.
No, no, no! Somalia's not like American because it doesn't have enough Jobses and Zuckerbergs! They're the job creators! If Somalians had more of that entrepeneurial spirit, they'd be rich too!
The correlation between ignorance of statistics and using "correlation is not causation" as an argument is close to 1.