Google raises the salaries of senior officials to one million dollars

Google has given four of its top executives a big pay boost, raising their salaries from $650,000 to $1 million, weeks after the company told employees it would not automatically adjust salaries to account for inflation.

The executives' new salaries were disclosed in a file submitted to the US Securities and Exchange Commission.

According to the filing, the Alphabet Board of Directors' Leadership Development and Compensation Committee approved on December 28, 2021 a new compensation arrangement for senior members of its 2022 executive team.

This includes executives Ruth Porat, Prabhakar Raghavan, Philip Schindler and Kent Walker. As of January 2022, their basic salaries will be increased from $650,000 to $1 million.

In addition, they are eligible to participate in a maximum annual bonus program of $2 million, based on contributions to Google's performance against the 2022 Social and Environmental Goals. Actual bonus payments are reduced if target performance is not achieved.

The Board of Directors also approved the stock awards. Borat will receive a slice of PSU performance stock with a target value of $5 million, and a slice of GSU restricted stock of $18 million.

Raghavan is getting a slice of PSU with a target value of $12 million. and a slice of GSU for $23 million.

Schindler is awarded a tranche of PSU with a target value of $12 million. and a slice of GSU for $23 million.

Meanwhile, Kent Walker is giving away a slice of PSU with a target value of $5 million. And a slice of GSU for $18 million.
This came after Google refused to increase employee wages

The company has been a huge financial success recently, posting a fifth consecutive quarter of record profits in the month of October.

But in contrast to giving huge pay increases to the four executives, the company's vice president for compensation told workers in December that the company did not plan to make broad salary adjustments to account for rising US inflation.

The increases also come as the company faces a legal battle with employees. This is about accusations of illegal dismissal in 2019.

The staff plans to call one of the new $1 million salary earners, Kent Walker, to testify as an opposing witness.

Reportedly, employees are unhappy with the company's remote work policies, which appear different to higher-ranking employees.

Senior Vice President of Technical Infrastructure, Urs Holzel, announced in July that he was moving to New Zealand. Two employees said this is emblematic of double standards for CEOs.