Have you ever wondered how much Tech CEOS are earning compared to the rest of their employees?
May 1, 2019
The technology industry is arguably the most exciting sector to work in due to its progressive attitude, immensely rapid pace and mind-blowing discoveries that are occurring by the minute. The industry has one of the greatest impacts on modern day society and could not have more of an influence as it does today in 2019. Constantly pushing for innovation and making processes quicker, faster and more efficient, the technology industry is only set to become even more exciting as new discoveries are made and implemented into both our work and personal lives.
Not only is the tech industry an inspiring sector to work in because of the information it is accessing and improvements it is making to how we go about our day-to-day lives, the industry also provides a good wage – with the average salary for a tech job being £62,000. Considering the average salary across the UK is £29,009, it’s safe to say that people working in tech are working in a successful sector. But on top of this, it’s the CEOs and those in the top-tier roles that see the seriously impressive benefits of the industry, which comes as no surprise with some of the world’s most famous and significant companies in the tech industry. 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 that holds immense wealth and success.
But in the industry, which tech CEOs are earning the most and how many days would it take their average employees to earn the salary of those at the top for just a single day’s work?
The results show that whilst being an employee in the tech sector can leave you with a better average wage compared to other industries, the real wealth of the industry is shown in the salaries of its CEOs and the astronomical difference some of these top individuals are earning compared to the rest of the company.
IBM comes out as the company with the biggest pay gap between its CEO and average employee. CEO Ginni Rometty has held the position since January 2012 and earns a staggering daily salary of $90,411. Joining the company back in 1981 as a systems engineer, Rometty’s wage has increased, making her one of the highest paid CEOs in the tech industry. With IBM’s average employee pay amounting to $277, per day it would take them just under a year (327 days to be precise) to earn just what Rometty earns in one day.
Apple comes in at second place for having the widest pay gap between its CEO and average employee. Tim Cook holds a daily wage of $43,014, which interestingly is not even in the top three highest CEO salaries studied, with Intel and Microsoft’s CEO’s earning at least $15,000 more each day. The average employee at Apple, however, earns the second lowest wage of all businesses analysed, at $152 per day. The lowest earning employees are Amazon at $78 each day. At Apple, it would take employees 283 days of work to reach Cook’s daily rate.
Do you still want to work for, arguably, one of the most influential and famous companies in the world?
Fortunately, not all of the tech industry 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, who earns $6,000 each day. Dell is close behind with employees needing to work 22 days to reach CEO Jo Seong-Jin’s daily salary.
How long would it take you to earn your CEO’s daily salary?
RS Components is the leading global distributor of electronic, electrical & industrial components for engineers, and has been supporting and inspiring generations of engineers since 1937.