The tech industry is famed for laid back offices, denim-clad employees, and astronomical CEO salaries. But which tech CEOs earn the most relative to their staff?
The tech sector is generally well paid, with the average salary for a tech job at £62,000 per year – well above the UK average of £29,009. Perhaps it is no surprise that many of tech’s rockstar CEOs have inflated salaries to match. From Mark Zuckerberg’s Facebook – the globe’s largest and most influential social media platform with over 2.23 billion monthly active users – and Elon Musk, founder of Tesla and SpaceX, who is literally reaching the stars in his career, the tech industry is a sector with huge capacity for wealth and success.
RS Components has published a study showing which tech CEOs are earning the most, and how many days would it take their average employees to earn the CEO’s daily rate.
|Rank||Company||CEO pay per day ($)||Employee pay per day ($)||Days employee needs to work|
While average tech employees may be ahead of other sectors, they are still far behind the tech CEOs.
IBM has the biggest pay gap between its CEO and the average employee. CEO Ginni Rometty has held the position since January 2012 and earns a daily salary of $90,411 (£69,480). With IBM’s average employee pay amounting to $277 (£213) per day, it would take them just under a year to earn Rometty’s daily rate.
At Apple, Tim Cook’s daily wage of $43,014 (£33,055) is not even in the top three highest CEO salaries studied, with Intel and Microsoft’s CEO’s earning at least $15,000 (£11,527) more each day. The average employee at Apple, however, earns the second lowest wage of all businesses analysed, at $152 (£116) per day. At Apple, it would take employees 283 days of work to reach Cook’s daily rate.
Not all of the surveyed companies have such significant pay gaps between their employees, with Panasonic employees needing to work just 17 days to reach the daily salary of CEO Kazuhiro Tsuga. Dell is close behind with employees needing to work 22 days to reach CEO Jo Seong-Jin’s daily salary.
The lowest earning employees are with Amazon at $78 (£60) each day, but so too is the lowest earning CEO, with Jeff Bezos taking a relatively humble daily rate of $4,658 (£3,580).