Google to give 30% raises to top executives
Some of Google's top executives will be getting an even larger pay raise than the 10% companywide increase announced Wednesday, the company said Friday in a filing with the Securities and Exchange Commission.
Increases of 30% will be awarded next year to Google Chief Financial Officer Patrick Pichette, President of Global Sales and Business Development Nikesh Arora, Senior Vice President of Engineering and Research Alan Eustace, and Senior Vice President of Product Management Jonathan Rosenberg.
Each of the execs will have base salaries of $650,000 in 2011, up from $500,000 in 2010.
The fortunate executives could also land bonuses of up to 250% of their base pay next year, the filing said.
This year, they were eligible for bonuses of 150% of their $500,000 base salaries.
Just how much of their possible bonuses the execs actually get is determined by a split between on-the-job individual performance and Google's financial productivity, the filing said.
Eric Schmidt, Google's chief executive, and co-founders Larry Page and Sergey Brin won't be getting any raises next year. Their salaries will stay frozen at the 2010 level of $1. And Schmidt, Page and Brin don't get bonuses either -- a practice the three have had in place since 2004, the filing said.
-- Nathan Olivarez-Giles
Photo: Google Chief Executive Eric Schmidt -- who won't be getting a raise next year -- gestures during his keynote speech at the 50th edition of IFA in Berlin, Sept. 7, 2010. Credit: ODD ANDERSEN/AFP/Getty Images.