Broadcom’s CEO has seen his annual salary package more than double to a whopping 149 million euros ($161.8 million) during 2023. This mega salary does raise eyebrows within the industry.
The position of CEO of a large tech company often has its lucrative perks when it comes to financial aspects. The recent announcement of Hock Tan’s, CEO of Broadcom, mega salary package is a prime example. In 2023, the CEO received a salary package of a whopping $161.8 million. In 2022, Hock Tan “only” earned a salary of $60.6 million.
The main increase in his salary in the past year comes from a share package that is part of it. In 2023, this share package had a value of $160.5 million. In 2022, the value of the share package was still $53.9 million. Perhaps the acquisition of VMware by Broadcom influenced the increase in value. In addition to this share package, Broadcom’s top executive received a base salary of $1.2 million in 2023. This salary was the same in 2022.
High rewards for management standard
Equity package pay for C-level management is a standard at Broadcom. By the way, Hock Tan cannot benefit directly from his share package. These shares are not convertible for another five years.
However, questions do naturally arise about the inequality of these top salaries compared to those of other “regular” employees. For example, the average salary of a Broadcom employee would be 510 times less than that of CEO Hock Tan.
Tip: Liveblog Broadcom/VMware: VMware EUC finds new home at KKR for $4 billion
20 hours ago
