The Korean electronics giant's entire executive team brings in less than individual executives at some US-based tech companies. March 18, 2014 7:05 AM PDT (Credit: James Martin/CNET) Samsung might be a giant company with massive amounts of revenue, but that doesn't mean that its executives make too much money. The company revealed at its annual shareholder meeting on Tuesday that its leadership executive team, comprised of its three co-CEOs and CFO, collectively make $30.6 million. Samsung went on to say that compared to competitors in the marketplace, it's far behind other companies, including Apple, which hit nearly $300 million in executive compensation during the 2012 fiscal year, and Google, which paid out well over $120 million. To make matters worse for Samsung executives, many individuals at those larger companies were paid more than the entire executive team. Apple CFO Peter Oppenheimer, for example, was awarded nearly $69 million in compensation during the same period. Of course, for four people to earn $30 million, that's not necessarily a bad thing. But it speaks to the difference between Samsung's compensation strategy and that of American-based companies. As Quartz, which earlier reported on the news, points out, Samsung executive compensation has been kept lower by cultural influence and corporate oversight. In fact, Korea has one of the lowest executive compensation levels in Asia. As Quartz points out, however, the US has watched executive compensation soar: it was up 876 percent between 1978 and 2011.
The Korean electronics giant's entire executive team brings in less than individual executives at some US-based tech companies.
Samsung might be a giant company with massive amounts of revenue, but that doesn't mean that its executives make too much money.
The company revealed at its annual shareholder meeting on Tuesday that its leadership executive team, comprised of its three co-CEOs and CFO, collectively make $30.6 million. Samsung went on to say that compared to competitors in the marketplace, it's far behind other companies, including Apple, which hit nearly $300 million in executive compensation during the 2012 fiscal year, and Google, which paid out well over $120 million.
To make matters worse for Samsung executives, many individuals at those larger companies were paid more than the entire executive team. Apple CFO Peter Oppenheimer, for example, was awarded nearly $69 million in compensation during the same period.
Of course, for four people to earn $30 million, that's not necessarily a bad thing. But it speaks to the difference between Samsung's compensation strategy and that of American-based companies. As Quartz, which earlier reported on the news, points out, Samsung executive compensation has been kept lower by cultural influence and corporate oversight. In fact, Korea has one of the lowest executive compensation levels in Asia. As Quartz points out, however, the US has watched executive compensation soar: it was up 876 percent between 1978 and 2011.
