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The Myth of the $1 Salary

By Deborah Perelman  |  Posted 02-29-2008 Print Email

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Some tech gurus make $1 a year, but that's a very small piece of their total pay package.  

The $1 salary--it sounds so noble, doesn't it?

In recent years, more and more executives at big tech companies have opted for a salary of mere pennies, choosing instead to base their pay on the performance of the company's stock--in other words, on the company itself.

Executives who opt for the $1 salary include Yahoo CEO Jerry Yang, Google founders Larry Page and Sergey Brin and its CEO Eric Schmidt. One of the most recognizable examples is Apple CEO and co-founder Steve Jobs.

Read the whole story: The $1 Salary Creates Good PR, Fuzzy Math



 

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