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Geek Culture / $1 Annal Wages?

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Killswitch
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Location: School damnit!! Let me go!! PLEASE!!!
Posted: 2nd Apr 2006 16:51
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I was just reading an article about the wages of Googles directors - it's $1 a year and they don't recieve any bonuses! It's a very gracious gesture on their behalf, actually, as they're so rich anyway (they all own millions of shares in google, which are worth $340ish each).

But a thought occured to me - $1 a year is way, way less than the legal minium wage. Surely there's some sort of penalty or fine Google would have to face because they're not paying their employes (however insanly rich they are) a fair wage?

~Heed my word hobags: Jism~
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John Y
Synergy Editor Developer
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Posted: 2nd Apr 2006 16:54
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Haha, it's a way of getting around certain taxes. Directors can pay themselves what they want, and then take the rest out of tax free shares.


Http://synergyide.thegamecreators.com
Http://omegabasic.thegamecreators.com
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soapyfish
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Posted: 2nd Apr 2006 16:55
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Maybe it's legal as long as the employees agree to be paid $1. I've read the same thing about Steve Jobs, not sure if it's true or not though.

I AM A MORON
and won't change my sig until I get off my oversized behind and finish a project.
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lagmaster
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Posted: 2nd Apr 2006 18:12
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they made their money from the shares so why do they need more money?

1$/year seems wise if you've earnt millions/billions from a company. puts more funding into other things.

lagmaster
Devhat IRC Network [href=irc://irc.devhat.net] -> MIRC link <- [/href]
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1tg46
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Posted: 2nd Apr 2006 22:26
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Their was situation like this with Microsoft I do believe. I just tried looking through my TheCodeProject Daily Developer News emails, but I had no luck finding the article.

Regards,
1tg46

Reality is an illusion brought on by the absence of alcohol-do not take literally
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Philip
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Posted: 2nd Apr 2006 22:36
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Directors are not necessarily employees of a company. They can be but only if they sign an employment contract. Most directors don't do that and instead sign service contracts. You may be wondering - what on earth is the difference? The answer that in common law there is a fundamental difference.

Cheer if you like bears! Cheer if you like jam sandwiches!
Quote of the week: "I highly recommend Philip's Vector Tutorials" (RiiDii)
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Xander
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Posted: 3rd Apr 2006 01:46
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Quote: "$1 Annal Wages"


That just sounds wrong to me

Xander Moser - Bolt Software - Firewall
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French gui
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Posted: 3rd Apr 2006 20:11
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By chance, it's written with two N ...

Eye candy!
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Freddy 007
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Posted: 3rd Apr 2006 21:36
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Quote: "[quote]Quote: "$1 Annal Wages""


That just sounds wrong to me[/quote]

Yes, I was afraid to enter this thread when I first read that.


My Place
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re faze
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Posted: 4th Apr 2006 00:53
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annual wages.

Dont code slowly be SWIFT about it!
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Seppuku Arts
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Location: Cambridgeshire, England
Posted: 4th Apr 2006 00:59
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Quote: "Quote: "$1 Annal Wages"

That just sounds wrong to me"


And there was me hoping I was gonna say something about it, I know bosses tend to talk out of that end, surely they don't pay you that way too?

Don't ask, I just have to put my friends duck in my sig
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Pincho Paxton
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Posted: 4th Apr 2006 01:09
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I wouldn't sell my Googles for any annal wage!!!

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Flindiana Jones
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Posted: 4th Apr 2006 01:23
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I accidentely removed an "n" from the title on the initial read...maybe an "annual" is in order?

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Matt Rock
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Posted: 4th Apr 2006 01:30
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Quote: "I know bosses tend to talk out of that end, surely they don't pay you that way too?"

Depends on your boss. If you work for some super model like Jenna Jameson or something, then annal wages are pretty dang good. Forget dental insurance!

I, too, entered this thread under false pretenses, expecting this to be some sicko thread that I might catch a glimpse of before it became locked I'm willing to bet we'll get to page three before the annal jokes stop coming


"Hell is an Irish Pub where it's St. Paddy's day all year long" ~ Christopher, The Sopranos
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Jeff Miller
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Location: New Jersey, USA
Posted: 4th Apr 2006 02:38
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In most of the United States, minimum wage laws do not apply to corporate officers or directors, commissioned sales reps, or professionals LIKE COMPUTER PROGRAMMERS.
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