Top businessmen's $1 salary myth: How it works
Top Businessmen\'s $1 Salary Myth: How It Works. We have often hear of companies bragging about how less they pay their CEOs-$1 to be more specific. But we know better than to believe that such a thing is only a myth.
We have often hear of companies bragging about how less they pay their CEOs-$1 to be more specific. But we know better than to believe that such a thing is only a myth. Those holding plum posts and often receive $1 as salaries are worth much more for salary is only a proxy strategy to keep the other employee motivated. These CEOs actually get huge stock-and-option grants.
It's as simple as this: Hrithik Roshan doesn't charge a buck for his role in a movie but takes away huge chunk from the profits a producer makes.
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Does it sound clear? But the onus is on him to make the movie work by way of promotions. In case of a CEO, he works hard to improve the performance of his company's stocks so he can take home a fat check!
This more of less has become the norm in corporate world where a person who holds a top job demands not just a salary but the company's profit. So, the next time your CEO fools you into believing that he's working for peanuts, you know how much he's really worth!
Let's take a look at some top 10 businessmen who take home just $1 salary
- Steve Jobs, Apple
- Mark Elliot Zuckerberg, Facebook Inc.
- Eric Emerson Schmidt; Software engineer, Google
- Henry Samueli, Broadcom Corporation
- Margaret Cushing Whitman, Hewlett-Packard
- Elon R. Musk, Tesla Motors
- Mark Jonathan Pincus, Zynga Inc
- Sehat Sutardja, Marvell Technology Group
- Lee Iacocca, Chrysler
- Arnold Schwarzenegger, former Governor of California
