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Paul's princely pay

In line with exec pay average…which went up 32 percent from previous year

Qualcomm's Paul Jacobs raked in $20.7 million in total compensation last year — 62nd among 200 chief executives of companies with capitalization of at least $1 billion filing proxies last year by May 30. The data, compiled by Equilar, were printed yesterday (June 8) in the New York Times.

Paul Jacobs's 2013 pay was about in line with the average of the 200 chief executives; that average was up a whopping 32 percent from the previous year.

On March 4 of this year, Steve Mollenkopf replaced Jacobs as chief executive of Qualcomm. Jacobs became executive chairman.

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Qualcomm's Paul Jacobs raked in $20.7 million in total compensation last year — 62nd among 200 chief executives of companies with capitalization of at least $1 billion filing proxies last year by May 30. The data, compiled by Equilar, were printed yesterday (June 8) in the New York Times.

Paul Jacobs's 2013 pay was about in line with the average of the 200 chief executives; that average was up a whopping 32 percent from the previous year.

On March 4 of this year, Steve Mollenkopf replaced Jacobs as chief executive of Qualcomm. Jacobs became executive chairman.

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6

Now that he has been replaced as CEO, might we expect Paul's salary to drop or vanish? Or is is far more likely that he will continue to draw an ever-growing salary as the son of the founder, regardless of his role then, now, or in the future?

June 9, 2014

Visduh: My guess is that next year, we might see two Qualomm executives -- one of them Paul Jacobs -- in the top 200 CEO salaries. That's just a guess. Best, Don Bauder

June 9, 2014

I fear you are right. And if so, it means that the corporation will be paying two super-fat salaries to get one capable executive. Mollenkopf holds the future of that corporation in his hands. Son Paul is just along for the ride, but how well it pays to ride!

June 10, 2014

Visduh: As chairman, Paul Jacobs will be doing long-term strategizing, supposedly. Mollenkopf is said to be an excellent executive. Best, Don Bauder

June 10, 2014

Do you guys think the "say-on-pay" provisions in Dodd-Frank (allowing shareholders non-binding votes on CEO pay) have made much difference in CEO pay?

June 12, 2014

ImJustABill: I don't know about shareholder votes on CEO pay. Trouble is, so much stock is held by Wall Street institutions, which almost always vote with management. (And the Wall Streeters have even more obscene compensation than the CEOs.)

Recently, shareholders of high-flying Chipotle Mexican Grill complained that each of the co-chief executives brought in about $25 million last year. Only 23% of shareholders voted for this compensation. But the matter isn't settled. Best, Don Bauder

June 12, 2014

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