(BC Bilten) How it looks like to live with salary of 1 USD ?


In the Syllicone valley there are more and more companies that reduce the significance of the salaries and offer compensation packages related to the business results and bonuses in the stocks to the executive managers. Yahoo has announced that the Administrative Board cut the annual salary of the executive manager Terry Sernel to only 1 USD. However, his future compensations in form of stocks and other compensations have been increased. Semel will get annual bonus in amount of 1 million stocks of the company, whereas the real value of the annual bonus will depend on the results of the company. During the last three years, his annual salary amounted to $600 000. Since 2004, Google pays its managers only 1 USD per year, but its co-founders Larry Page and Sergey Brin, as well as executive manager Eric Smith, who are, by the way, billionaires, receive compensation in form of stocks of other compensations.