Are you looking for a fulfilling job that pays a lot? You might want to consider working at Alphabet, Google’s parent company.
A recent report in the Wall Street Journal said Alphabet is one of the top three highest-paying public companies in 2022.
The Wall Street Journal analyzed data compiled by public-company analyst MyLogIQ. Headquartered in Puerto Rico, MyLogIQ is a provider of SEC compliance and disclosure intelligence products. It provides 360-degree public company intelligence related to SEC disclosures and comment letters, corporate governance practices, and executive and director compensation, among others.
The analysts studied the median salaries of 278 companies in the S&P 500 index. S&P 500, or Standard and Poor’s 500, pertains to a stock market index that tracks the stock performance of 500 of the biggest companies listed in the U.S. stock exchanges.
Alphabet is one of the highest-paying companies in 2022
Landing on the top spot is Vici Properties, a real estate investment trust with just 22 employees. However, the company owns a range of casinos across the United States. It showed a median salary of around $415,000.
Coming in on the second spot is Meta – the parent company of Facebook, Instagram, and WhatsApp – offering its employees a median salary of almost $300,000.
Alphabet took the third spot with a median wage of $280,000.
High pay disparity between executives, employees
The Wall Street Journal analysis also talked about the wide pay disparity between CEOs and median employees. For Alphabet, its CEO, Sundar Pichai, earned a salary package of $226 million, which was 808 times more than the company’s median pay for its employees.
A piece of news from us here at PVP Live also previously reported about this. Pichai’s $226 million salary package in 2022 was even boosted by a triennial stock grant, giving him a spot on the list of the highest-paid corporate leaders worldwide.
Plus, he also received a stock award portion amounting to $218 million. In 2021 when a grant did not take place, the Alphabet CEO still received a total of $6.3 million in compensation. And, for the past three years, his salary has remained consistent at $2 million.
Amidst layoffs
It is also interesting to note that Alphabet is still able to keep its top three ranking of the highest-paid public companies in 2022 though it has done massive layoffs recently.
Google laid off 12,000 employees last January but has reportedly been planning this since late last year.
Companies usually conduct mass layoffs to cut costs, change their market dynamics, and do strategic restructuring.
Google’s median pay package slipped from the top spot last year, the Wall Street Journal added.