Bill McDermott's Salary: A Deep Dive Into The Former CEO's Compensation
What is Bill McDermott's salary?
Bill McDermott, the former CEO of ServiceNow, received a total compensation of $17.3 million in 2021. This includes a base salary of $1.2 million, a cash bonus of $5.9 million, stock awards of $8.3 million, and other compensation of $1.9 million.
McDermott's salary is in line with other CEOs of large technology companies. For example, Salesforce CEO Marc Benioff received a total compensation of $21.2 million in 2021, while Oracle CEO Safra Catz received a total compensation of $26.9 million.
McDermott's salary is also reflective of his experience and success in the technology industry. He has been the CEO of three different publicly traded companies, including SAP and Symantec. He is also a member of the board of directors of several other companies, including Amazon and Uber.
McDermott's salary is a reflection of his value to ServiceNow. He is a highly experienced and successful CEO who has a proven track record of success in the technology industry.
Bill McDermott Salary
Bill McDermott's salary is a topic of interest for many reasons. He is a highly successful CEO with a long track record of success in the technology industry. His salary is also reflective of the value that he brings to ServiceNow, a company that he has led to great success.
- Compensation: Bill McDermott's total compensation in 2021 was $17.3 million.
- Base salary: His base salary is $1.2 million.
- Bonus: He received a cash bonus of $5.9 million in 2021.
- Stock awards: He was granted stock awards worth $8.3 million in 2021.
- Other compensation: He received other compensation worth $1.9 million in 2021.
- Comparison to other CEOs: McDermott's salary is in line with other CEOs of large technology companies.
These are just a few of the key aspects of Bill McDermott's salary. His salary is a reflection of his experience, success, and value to ServiceNow.
1. Compensation
Bill McDermott's total compensation in 2021 was $17.3 million. This includes a base salary of $1.2 million, a cash bonus of $5.9 million, stock awards of $8.3 million, and other compensation of $1.9 million. McDermott's salary is in line with other CEOs of large technology companies. For example, Salesforce CEO Marc Benioff received a total compensation of $21.2 million in 2021, while Oracle CEO Safra Catz received a total compensation of $26.9 million.
McDermott's salary is reflective of his experience and success in the technology industry. He has been the CEO of three different publicly traded companies, including SAP and Symantec. He is also a member of the board of directors of several other companies, including Amazon and Uber.
McDermott's salary is also a reflection of the value that he brings to ServiceNow. He is a highly experienced and successful CEO who has a proven track record of success in the technology industry.
The connection between "Compensation: Bill McDermott's total compensation in 2021 was $17.3 million." and "bill mcdermott salary" is that McDermott's salary is a reflection of his experience, success, and value to ServiceNow. His salary is in line with other CEOs of large technology companies and is a reflection of the value that he brings to the company.
2. Base salary
Bill McDermott's base salary is $1.2 million. This is the fixed amount of money that he receives each year for his work as CEO of ServiceNow. His base salary is a significant component of his total compensation, which also includes a bonus, stock awards, and other compensation.
The base salary is important because it provides McDermott with a guaranteed income. This is important for financial planning and stability. The base salary also serves as a foundation for his other compensation, such as his bonus and stock awards.
McDermott's base salary is in line with other CEOs of large technology companies. For example, Salesforce CEO Marc Benioff has a base salary of $1 million, while Oracle CEO Safra Catz has a base salary of $1.1 million.
Understanding the connection between "Base salary: His base salary is $1.2 million." and "bill mcdermott salary" is important because it provides insight into the compensation structure of CEOs of large technology companies. It also helps to understand the financial planning and stability of these CEOs.
3. Bonus
Bill McDermott's bonus is a significant component of his total compensation. In 2021, he received a cash bonus of $5.9 million. This bonus is tied to his performance as CEO of ServiceNow. The bonus is designed to incentivize McDermott to achieve the company's goals and objectives.
The bonus is also a reflection of McDermott's value to ServiceNow. He is a highly experienced and successful CEO who has a proven track record of success in the technology industry. The bonus is a way for ServiceNow to reward McDermott for his contributions to the company.
Understanding the connection between "Bonus: He received a cash bonus of $5.9 million in 2021." and "bill mcdermott salary" is important because it provides insight into the compensation structure of CEOs of large technology companies. It also helps to understand the importance of performance-based pay and the value that companies place on experienced and successful CEOs.
4. Stock awards
Bill McDermott's stock awards are a significant component of his total compensation. In 2021, he was granted stock awards worth $8.3 million. These stock awards are tied to his performance as CEO of ServiceNow. The stock awards are designed to incentivize McDermott to achieve the company's goals and objectives.
The stock awards are also a reflection of McDermott's value to ServiceNow. He is a highly experienced and successful CEO who has a proven track record of success in the technology industry. The stock awards are a way for ServiceNow to reward McDermott for his contributions to the company.
Understanding the connection between "Stock awards: He was granted stock awards worth $8.3 million in 2021." and "bill mcdermott salary" is important because it provides insight into the compensation structure of CEOs of large technology companies. It also helps to understand the importance of performance-based pay and the value that companies place on experienced and successful CEOs.
5. Other compensation
The "other compensation" category in Bill McDermott's salary package encompasses a range of benefits and perks that contribute to his overall remuneration. These may include:
- Retirement benefits: McDermott's retirement benefits are designed to provide him with financial security after he retires. These benefits may include a pension, 401(k) plan, and other retirement savings plans.
- Health and life insurance: McDermott's health and life insurance benefits provide him with financial protection in the event of illness, injury, or death. These benefits may include health insurance, dental insurance, vision insurance, and life insurance.
- Paid time off: McDermott's paid time off benefits allow him to take time off from work for vacations, sick days, and other personal reasons. These benefits may include vacation days, sick days, personal days, and holidays.
- Other perks: McDermott may also receive other perks as part of his compensation package, such as a company car, a gym membership, or a financial planning service.
These other compensation benefits are an important part of McDermott's overall salary package. They provide him with financial security, protection, and flexibility. Understanding the connection between "Other compensation: He received other compensation worth $1.9 million in 2021." and "bill mcdermott salary" provides a more comprehensive view of his total remuneration and the value that ServiceNow places on his leadership.
6. Comparison to other CEOs
Bill McDermott's salary is in line with other CEOs of large technology companies. This is because McDermott is a highly experienced and successful CEO with a proven track record of success in the technology industry. He has been the CEO of three different publicly traded companies, including SAP and Symantec. He is also a member of the board of directors of several other companies, including Amazon and Uber.
- Compensation Structure: McDermott's salary is similar to the compensation structures of other CEOs of large technology companies. This includes a base salary, a bonus, stock awards, and other compensation. The structure of McDermott's compensation is designed to align his interests with the interests of ServiceNow and its shareholders.
- Performance-Based Pay: McDermott's bonus and stock awards are tied to his performance as CEO of ServiceNow. This means that McDermott's compensation is directly linked to the success of the company. This is a common practice among CEOs of large technology companies, as it incentivizes them to achieve the company's goals and objectives.
- Industry Benchmarks: McDermott's salary is also in line with industry benchmarks for CEOs of large technology companies. This means that McDermott's salary is comparable to the salaries of other CEOs in the same industry. This is important because it ensures that McDermott is fairly compensated for his work.
- Company Performance: ServiceNow has been a successful company under McDermott's leadership. The company has grown significantly in recent years and its stock price has performed well. This has contributed to McDermott's high compensation, as his performance as CEO has been a major factor in the company's success.
Overall, McDermott's salary is in line with other CEOs of large technology companies because he is a highly experienced and successful CEO who has a proven track record of success in the technology industry. His compensation is structured to align his interests with the interests of ServiceNow and its shareholders, and his salary is comparable to other CEOs in the same industry.
FAQs on Bill McDermott's Salary
This section addresses frequently asked questions (FAQs) regarding Bill McDermott's salary, providing concise and informative answers.
Question 1: How much does Bill McDermott make?
In 2021, Bill McDermott's total compensation was $17.3 million, including a base salary of $1.2 million, a cash bonus of $5.9 million, stock awards worth $8.3 million, and other compensation of $1.9 million.
Question 2: How does Bill McDermott's salary compare to other CEOs?
McDermott's salary is in line with other CEOs of large technology companies. For example, Salesforce CEO Marc Benioff received a total compensation of $21.2 million in 2021, while Oracle CEO Safra Catz received a total compensation of $26.9 million.
Question 3: What is the structure of Bill McDermott's compensation?
McDermott's compensation includes a base salary, a bonus, stock awards, and other compensation. His bonus and stock awards are tied to his performance as CEO of ServiceNow, incentivizing him to achieve the company's goals and objectives.
Question 4: How has Bill McDermott's salary changed over time?
McDermott's salary has increased over time, reflecting his experience, success, and value to ServiceNow. In 2020, his total compensation was $15.6 million, while in 2019 it was $13.7 million.
Question 5: Is Bill McDermott's salary justified?
McDermott's salary is commensurate with his experience, success, and value to ServiceNow. He is a highly experienced and successful CEO who has a proven track record of success in the technology industry. Under his leadership, ServiceNow has grown significantly and its stock price has performed well.
Summary: Bill McDermott's salary is in line with other CEOs of large technology companies and reflects his experience, success, and value to ServiceNow. His compensation structure is designed to align his interests with the interests of the company and its shareholders, and his salary is comparable to other CEOs in the same industry.
Next Section: Bill McDermott's Leadership at ServiceNow
Conclusion
Bill McDermott's salary is a reflection of his experience, success, and value to ServiceNow. His salary is in line with other CEOs of large technology companies and is a reflection of the value that he brings to the company.
McDermott's compensation is structured to align his interests with the interests of ServiceNow and its shareholders. His bonus and stock awards are tied to his performance as CEO, incentivizing him to achieve the company's goals and objectives.
Under McDermott's leadership, ServiceNow has grown significantly and its stock price has performed well. This has contributed to McDermott's high compensation, as his performance as CEO has been a major factor in the company's success.
Overall, McDermott's salary is justified and is a reflection of his value to ServiceNow.
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