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by Zigurd 567 days ago
There's a strong case to be made that Intel CEO is the worst job in tech, and also the most complex, and it also has mediocre upside. Which prompts the question: Is there someone better than Pat Gelsinger who actually wants that job?
1 comments
rsanek 567 days ago
$50m yearly salary is limited upside? interesting take
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BeetleB 567 days ago
> $50m yearly salary is limited upside? interesting take

OK. Rule of thumb. Any sensationalist headline about CEO making $N dollars is always wrong.

The real details are in the Proxy statement they are now required to file. As an example, when Pat signed on, his compensation package was worth over $160m. How much did he actually get? $10M. Why? Because the rest of the package was contingent on high share prices (I think $80 was the lowest target). He got none of it.

And the punchline: His total payout during his whole tenure is $46-49M. That's over almost 4 years. And includes his sign on bonus and severance bonus.

So yes, your claim of $50m yearly salary is ludicrous.

https://finance.yahoo.com/news/pat-gelsinger-lost-massive-14...

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nimish 567 days ago
Incredible that they set his performance targets on stock price and not on market share and technological superiority.

Priorities and incentives matter

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eric-hu 567 days ago
That’s a lot of money to you and me, but we’re not in the running for a CEO position at Intel. For the people who might be, I wouldn’t be surprised if that’s peanuts.
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Earw0rm 567 days ago
It's also, weirdly, not going to make a lot of difference to the person earning it.

If you're next in line to that, you can already afford literally everything. Or stop working tomorrow and still afford _almost_ everything.

So it's about whether or not it's a good job to work in, and one that will enhance your reputation and status.

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aitchnyu 567 days ago
IIRC 10 year old report states 100 million usd net worth is enough to buy whatever you want.
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Earw0rm 567 days ago
Depends on your appetite of course. But I think it's safe to say that if you're not satisfied at $10m net worth, you're never going to be, and you'll just keep on chasing til circumstances force you to stop.
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njtransit 567 days ago
50M in salary is actually quite high. The S&P 500 average is less than 20M. I’ve seen companies half the size of Intel pay their CEOs ~11M.
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BeetleB 567 days ago
It is high. And it is wrong. See details here:

https://news.ycombinator.com/item?id=42341514

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alecco 567 days ago
When you can get fired by the board within 6 months, it matters. This could be a death blow gig for a competent career CEO.
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