Author | Xiao Yisi, China Business News
How high is the annual salary of the car company's leader?
Recently, Toyota submitted the "Report on Marketable Securities", and the annual salary of the president Akio Toyoda was exposed.
As the world's second largest auto group after Tesla in market value, Akio Toyoda's salary in fiscal year 2021 (April 2021 to March 2022) reached 685 million yen (about 34 million yuan) , an increase of 55% year-on-year, setting a record for the highest salary of Toyota's previous presidents.
His above-mentioned compensation includes fixed compensation of 204 million yen, and stock-based compensation of 481 million yen.
Although Akio Toyoda's annual salary can be disdainful of the heads of many domestic car companies, but compared with other CEOs of European and American car companies, he can only rely on it.
In the past year, Tesla CEO Musk's salary has reached a staggering figure of 23.5 billion US dollars, or about 157.5 billion yuan, which is 4,632 times that of Akio Toyoda and 30 times that of Apple CEO Tim Cook. times.
With the vitality brought by the "New Four Modernizations", the myths of wealth creation in the auto industry continue one after another, and executive compensation continues to refresh people's cognition.
However, the first financial reporter counted the salaries of the top leaders of 13 car companies in the past year and found that the salary gap between the CEOs of different car companies is also very large.
4 CEOs with annual salary of over 100 million
In terms of the annual salary of CEOs of car companies, the reporter found through statistics that European and American companies are basically the highest, followed by domestic private car companies, followed by state-owned companies, but unexpectedly, domestic new car manufacturers ranked last.
The source of the first financial cartographic data: public information
In the past year, the CEO salaries of Tesla, Stellantis, GM and Ford all exceeded 100 million yuan.
Among them, Musk's annual salary of $23.5 billion (about 157.5 billion yuan) far exceeds that of other car company CEOs, and he earns 430 million yuan a day, mainly due to the stock options granted to him by Tesla in 2018.
That year, Tesla formulated a ten-year compensation plan, according to which Tesla did not need to pay Musk any salary and cash incentives for the next ten years, but if Musk led Tesla to the board of directors The market value and performance targets set will receive 78 billion US dollars (about 522.2 billion yuan) of stock options.
Therefore, Musk’s income at Tesla is directly linked to the company’s market value and performance.
With Tesla's performance and market value soaring in recent years, Musk's salary is also very amazing, and it has been "slaughtered" for four consecutive years.
At the end of May this year, "Fortune" magazine released a list of the 10 highest-paid CEOs in Fortune 500 companies, and Musk alone surpassed the combined salaries of the other 9 CEOs.
Behind Musk is Stellantis CEO Tang Weishi.
According to the data disclosed by Stellantis, Tang Weishi's salary in 2021 will total 19 million euros, plus the high stock awards and long-term salary incentives he has, the total salary will be as high as 66 million euros (about 465 million yuan).
This also makes Tang Weishi the highest paid CEO in the European auto industry in 2021.
Volkswagen Group CEO Diess, who is also a European car company, has an annual salary of 10.3 million euros (about 72.57 million yuan), which is less than 1/6 of Tang Weishi's.
Of course, Tang Weishi's high salary also made him controversial.
In addition to Musk and Tang Weishi, the other two CEOs with an annual salary of over 100 million are from American car companies, namely GM's Mary Barra (about 200 million yuan) and Ford's Jim Farley (about 150 million yuan). Yuan).
Among the 13 car companies in the statistics, most of the annual salaries of foreign car company CEOs are obtained in the form of stock or option incentives, which makes their salaries much higher than that of domestic car company CEOs.
Among the domestic auto companies, two private CEOs rank first and second in salary, BYD Wang Chuanfu's annual salary is nearly 5.8 million yuan, and Great Wall Motor's Wei Jianjun is nearly 5.75 million yuan.
Among state-owned enterprises, Changan Automobile Zhu Ronghua has the highest salary, exceeding 2.47 million yuan.
Unexpectedly, the salary of the CEO of the new domestic car-making force ranks at the bottom. Li Xiang of Lixiang has an annual salary of only 1.5 million yuan, and He Xiaopeng of Xiaopeng Motors is even lower, at 1.35 million yuan.
In this statistics, from Musk, who has the highest annual salary, to He Xiaopeng, who has the lowest, the gap between them is really more than "108,000 miles", and the salary of the former is 116,000 times that of the latter.
It is worth noting that in the past year, despite the impact of the epidemic, the shortage of cores in the automotive industry and the supply chain crisis continued to intensify, but many CEOs of foreign auto companies still achieved salary increases.
Among them, Musk's salary increased by more than 2.5 times year-on-year, Jim Farley increased by 93%, Toyoda Akio increased by 55%, and Mary Bora and Diess also achieved an increase of more than 20%.
This is mainly due to the improvement in business performance of the companies they lead.
Many executives are paid more than the CEO
In the process of calculating the executive compensation of the above-mentioned car companies, the reporter noticed that CEOs in many car companies are not the highest paid executives.
A few days ago, Toyota Motor's "Portable Securities Report" showed that the company's highest-paid executive is James Kuffner, head of digital strategy, with a salary of 906 million yen (about 45 million yuan), which is significantly higher than the Toyota chapter. Men are paid well.
It is understood that James Kuffner's salary comes from two aspects, one is Toyota itself, and the other is Woven Planet Holdings, a subsidiary of Toyota.
Among them, the compensation provided by Toyota Motor is 252 million yen, and the compensation provided by Woven Planet Holdings is 654 million yen.
In fact, in order to attract and retain talents, many domestic auto companies have experienced the situation where the top leaders' salary is lower than that of other executives. For example, Li Ke, vice president of BYD, received an annual salary of 7.962 million yuan last year, which is BYD's highest-paid executive. 2.16 million yuan higher.
This phenomenon is particularly common in the new forces of car building.
In February of this year, some media released a list of the top 50 executives in terms of annual salary, which attracted a lot of attention, because the top spot did not come from Internet giants, but from Gu Hongdi, vice chairman and president of Xiaopeng Motors.
His personal annual salary is 434 million yuan, surpassing Liu Chiping, president of Tencent Group, the "emperor of migrant workers", who has an annual salary of 428 million yuan.
The reporter found in the statistics that Gu Hongdi did receive an annual salary of nearly 435 million yuan, but it happened in 2020, when Gu Hongdi's salary was 415.6 times that of He Xiaopeng (1.046 million yuan).
As the matter fermented, Xiaopeng Motors once responded to the media that more than 99.5% of the executive's public salary was the equity incentive accumulated over many years, not a year's income, because the company's valuation before and after listing greatly increased As a result, the equity value has also risen. Gu Hongdi's actual annual salary is more than 2 million yuan.
In 2021, Gu Hongdi's annual salary will be reduced to 8.577 million yuan, but this is also 6.3 times that of He Xiaopeng's salary.
Among Xiaopeng Motors, in addition to Gu Hongdi, last year, Xia Heng, the president of Xiaopeng Motors, was also paid more than He Xiaopeng.
The phenomenon of the lower salary of the top leader is also common in the ideal car.
From 2020 to 2021, Li Xiang has the lowest salary among the three executives announced by Lixiang Auto.
In 2021, the salary of Shen Yanan, president of Lixiang Auto, is 87.5 million yuan, 58 times that of Li Xiang; Li Tie, the CFO of Lixiang Auto, is paid 2.706 million yuan, which is also more than 1.2 million yuan higher than Li Xiang.
Thanks to stock and option incentives, the salaries of the executives of the above-mentioned new car manufacturers are also more competitive with other multinational car companies.
Although NIO has not announced specific executive compensation, the figure in terms of share-based compensation is also huge.
In 2019, Weilai Automobile Co., Ltd. paid 333.5 million yuan in compensation expenses, in 2020 the value was 187.1 million yuan, and in 2021, it was 1.0101 billion yuan.
As of December 31, 2021, NIO's unrecognized share-based compensation expenses for share options and restricted shares were 5.909 billion yuan.
In addition, new car-making forces have further pushed up the average salary of ordinary employees of car companies.
According to the reporter's statistics, in 2021, the average salary of employees in the R&D department of Ideal Auto will be 609,000 yuan; the average salary of employees in sales and administrative management (excluding production) and other departments will be nearly 214,000 yuan.