Ruth Porat will Receive $70 Million for Joining Google
David Curry | | Mar 27, 2015 10:07 AM EDT |
Google has nice incentives for Ruth Porat in the CFO position.
Morgan Stanley ex-chief financial officer Ruth Porat is moving to Google to take the CFO role at the search giant, and it looks like Google has splashed out to get Porat interested.
Porat will receive a $5 million signing bonus alongside a $25 million stock grant this year. She will also receive a $40 million biennial stock grant that will vest from 2016 to 2019.
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On top of all the stock grants, Porat will start with a $650,000 annual salary.
This makes Porat one of the most highly paid executives in Silicon Valley, rivaling Apple's pickup of Burberry CEO Angela Ahrendts, who received around the same amount to become chief retail officer at Cupertino.
It's starting to become a wish-wash in Silicon Valley when it comes to executive salaries. Most large companies are offering millions right at the get-go, especially for talent with decades of experience based outside the normal parameters.
With Apple, Microsoft, Google and Facebook all moving into a new age of mobile, fashion, global internet and moonshot projects, they need to start sourcing talent from all parts of the globe. Incentives are required.
Even for the lower tier engineers, we're starting to see huge starting payments of over $100,000. This has brought some issues in San Francisco, as young engineers and developers start pushing local residents out of homes due to house and rent prices skyrocketing.
TagsRuth Porat, Google CFO
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