Google gave all of its employees raises earlier this week, but it saved the best raises for its senior management team.
Four of Google's seven named executive officers--Patrick Pichette, Nikesh Arora, Alan Eustace, and Jonathan Rosenberg--are getting 30 percent raises for 2011, bringing each of their base salaries to $650,000 from $500,000, Google announced in a filing with the U.S. Securities and Exchange Commission late Friday. Earlier in the week, Google gave everybody else a 10 percent raise, along with a $1,000 bonus, as it tries to hang on to employees amid a talent war in Silicon Valley.
Those executives are also getting hefty restricted-stock awards, with Pichette and Arora receiving $20 million, Eustace getting $10 million, and Rosenberg getting $5 million in grants and options. The numbers are interesting, considering that TechCrunch reported this week that a single Google "staff engineer" was given a restricted-stock award of $3.5 million as an incentive to remain with the search company and pass up an offer from Facebook.
The Google ruling triumvirate--CEO Eric Schmidt, and co-founders Sergey Brin and Larry Page--will continue to accept a salary of $1 and did not take any additional stock rewards. Not that they really need it: together, the three control more than half of Google's outstanding stock, with Brin and Page supplementing their incomes this year by selling off shares in a diversification strategy.