Archived CEO Pay Watch: Target's Brian Cornell made $19.2 million in last fiscal year

[qmosqueen]

well there you have it, this is where all the money is going.
what is the hell is that other compensation .... 263 K ???



Brian Cornell, Target Corp.

Chairman, CEO

Total compensation: $19,153,827 for the year ended Feb. 3, 2018

Salary: $1,300,000

Non-equity incentive pay: $4,836,000

Other compensation: $263,208

Value realized on vesting shares: $12,754,619


Total 2017 shareholder return: 18.57 percent

CEO pay ratio: 408:1

Median employee pay: $20,581

Note: Target, which had low expectations going into last year, ended up performing better than expected as overall consumer spending improved. CEO Brian Cornell’s compensation for the last fiscal year of $19.2 million was much higher than the previous year’s $9.1 million. That is a reflection of a $4.8 million bonus (the previous year he received no such bonus) and that he realized more vested shares than in 2016.

The board recently changed the timing of when makes stock awards until after the fiscal year ends so they were not reflected in 2017. If those awards are considered, the CEO pay ratio would rise to 657:1. While the company’s better-than-expected performance warranted a full payout, the board decided to reduce it by 28 percent, feeling it would be premature to give a full payout since the company is still in the early stage of a multi-year plan.

Kavita kumar


this was found here:
CEO Pay Watch: Target's Brian Cornell made $19.2 million in last fiscal year - http://www.startribune.com/ceo-pay-watch-target-s-brian-cornell-made-19-2-million-in-last-fiscal-year/481758221/

 

[Anelmi]

A $4.8 MILLION BONUS?!?!

 

[Panda13]

A $4.8 MILLION BONUS?!?!

Thanks for the 12 bucks

 

[NPC]

If you divide $19.2 million among target's 300k employees, we'd all get $64 bucks.

If you added $5k to all TM salaries, it would cost Target $1.5 billion dollars.

There are lots of things Target could do better to support their workers, but thought I'd drop some numbers before everyone made their "where's my yacht" jokes.

 

[BullseyeBlues]

If you divide $19.2 million among target's 300k employees, we'd all get $64 bucks.

If you added $5k to all TM salaries, it would cost Target $1.5 billion dollars.

There are lots of things Target could do better to support their workers, but thought I'd drop some numbers before everyone made their "where's my yacht" jokes.

I could still use the 64 bucks, my car’s practically junk! Also thanks for doing the math for everyone.

 

[On6]

I could still use the 64 bucks, my car’s practically junk! Also thanks for doing the math for everyone.

That’s $64 for a year. If your car is junk I doubt that would make a difference.

 

[unknown]

If you divide $19.2 million among target's 300k employees, we'd all get $64 bucks.

If you added $5k to all TM salaries, it would cost Target $1.5 billion dollars.

There are lots of things Target could do better to support their workers, but thought I'd drop some numbers before everyone made their "where's my yacht" jokes.

You're right on both counts.

Maybe Cornell could cut his hours so that he's considered part time.

 

[2Spooky4U]

If you divide $19.2 million among target's 300k employees, we'd all get $64 bucks.

If you added $5k to all TM salaries, it would cost Target $1.5 billion dollars.

There are lots of things Target could do better to support their workers, but thought I'd drop some numbers before everyone made their "where's my yacht" jokes.

$64 IS JUST BARELY AN EIGHTH AND A DUB COMBINED. DON'T YOU USE YOUR MATHEMATICAL WITCHCRAFT ON ME.

 

[BullseyeBlues]

That’s $64 for a year. If your car is junk I doubt that would make a difference.

. Eh, it could at least cover some of the cost of a tow truck to the scrap yard if it dies on me. I try to have a sense of humor about it.

 

[FlowTeamChick]

I've never been a redistribution-of-wealth advocate, and I don't begrudge someone in a higher position being paid more than I am. And frankly. $64 a year wouldn't make a whole lot of difference for my budget.
But. That 408:1 pay ratio is pretty extreme. Percentage-wise, the median is 1/10% of his total compensation. That's not one percent, that's one-tenth of one percent. That's not right. (But, to be fair, this is the case in a lot of other companies too.)

 

[unknown]

I've never been a redistribution-of-wealth advocate, and I don't begrudge someone in a higher position being paid more than I am. And frankly. $64 a year wouldn't make a whole lot of difference for my budget.
But. That 408:1 pay ratio is pretty extreme. Percentage-wise, the median is 1/10% of his total compensation. That's not one percent, that's one-tenth of one percent. That's not right. (But, to be fair, this is the case in a lot of other companies too.)

It's not a matter of right or wrong. But think of it this way .... what does he actually do? Did he found the company and build it into what it is today? No. Did he work his way up through the ranks of said company learning about it? No. What was his job before this? His 3 previous jobs were CEO of various companies. I'm not saying he doesn't deserve said compensation, but what does he actually bring to the table?

 

[CsideMaster]

And I’ve been getting one day a week since January because of *gasp* PAYROLL CONSTRAINTS!!!! What a crock

 

[can't touch this]

re: the $5K bonus thing, at one of my previous jobs, they decided to hand out some pamphlets one year during open enrollment explaining how much extra they invested in us beyond our hourly pay, with a fancy chart and bullet points. You had the option of choosing their AMAZING health plan for the low price of only $300 a month with a gazillion dollar deductible, plus 401(k) matching! Naturally our response was something along the lines of "fuck that shit that I'm not even using and just pay me the extra amount in cash and hours." I won't hit retirement age until 2053...what am I supposed to do with a 401(k) that I'll never see a dime of because the country will be a smoking post-apocalyptic ruin by then? Needless to say they didn't do those pamphlets again the following year.

I bet it's like this with most jobs. Lots of extra bullshit tacked on that a lot of employees don't use. At least give us the option to cash out of the extra nonsense if we aren't going to get bonuses or cost-of-living raises. I'm a Millennial with short-term horizons, it's what we do.

 

[NPC]

re: the $5K bonus thing, at one of my previous jobs, they decided to hand out some pamphlets one year during open enrollment explaining how much extra they invested in us beyond our hourly pay, with a fancy chart and bullet points. You had the option of choosing their AMAZING health plan for the low price of only $300 a month with a gazillion dollar deductible, plus 401(k) matching! Naturally our response was something along the lines of "fuck that shit that I'm not even using and just pay me the extra amount in cash and hours." I won't hit retirement age until 2053...what am I supposed to do with a 401(k) that I'll never see a dime of because the country will be a smoking post-apocalyptic ruin by then? Needless to say they didn't do those pamphlets again the following year.

I bet it's like this with most jobs. Lots of extra bullshit tacked on that a lot of employees don't use. At least give us the option to cash out of the extra nonsense if we aren't going to get bonuses or cost-of-living raises. I'm a Millennial with short-term horizons, it's what we do.

$300 a month for health insurance...FROM YOUR EMPLOYER is super expensive. I wouldn't call that a benefit by any means. I love me some 401K though. I just hope it's still worth a damn by the time I get to use it.

I feel like benefits are how companies got away with paying low wages. Somewhere in eHR, there's a page that says, "considering your benefits and discounts, it's like you ACTUALLY make $x.xx dollars an hour!" Example, if you made $12 an hour, the eHR thing says, "After benefits, it's like you're making $16 an hour!" I truly hate that they do that. It costs less for them to "offer benefits" rather than pay a wage that would allow you to buy those things on their own. I have no clue if it's good or bad, or how life would be otherwise. It's just a thought I have sometimes.

 

[On6]

It's not a matter of right or wrong. But think of it this way .... what does he actually do? Did he found the company and build it into what it is today? No. Did he work his way up through the ranks of said company learning about it? No. What was his job before this? His 3 previous jobs were CEO of various companies. I'm not saying he doesn't deserve said compensation, but what does he actually bring to the table?

This is what he brought to the company....

Total 2017 shareholder return: 18.57 percent

Like it or not he’s there so the shareholders make money. If they didn’t he wouldn’t be there anymore.

 

[SpilledTea]

$300 a month for health insurance...FROM YOUR EMPLOYER is super expensive. I wouldn't call that a benefit by any means

That's roughly how much I pay for health benefits for my family... per pay period.

 

[NPC]

That's roughly how much I pay for health benefits for my family... per pay period.

Shit, from Target? Glad I don't have their insurance.

 

[can't touch this]

18.5% over one fiscal year seems like a shitty ROI or am I missing something

 

[SpilledTea]

Shit, from Target? Glad I don't have their insurance.

Yup. Every time I look at my pay statement, I remember that I'm paying $8 for a prescription that I used to cost me $170. Could be worse, I guess.

 

[unknown]

This is what he brought to the company....


Like it or not he’s there so the shareholders make money. If they didn’t he wouldn’t be there anymore.

If you are implying that his core role at Target is to make shareholders money, I disagree. For example, greater short term profits could be detrimental in the long run.

 

[can't touch this]

...the long run

I don't think that's part of management school curricula

 

[Times Up]

18.5% over one fiscal year seems like a shitty ROI or am I missing something

It's not a very good return considering how much the market as a whole was up in 2017.

 

[Times Up]

If you are implying that his core role at Target is to make shareholders money, I disagree. For example, greater short term profits could be detrimental in the long run.

Actually Cornell is somewhat a job hopper, so yes, his goal is geared more towards short term gains and increasing shareholder wealth. Probably not too invested in setting up Spot to survive another 20-30 years.

 

[unknown]

Actually Cornell is somewhat a job hopper, so yes, his goal is geared more towards short term gains and increasing shareholder wealth. Probably not too invested in setting up Spot to survive another 20-30 years.

Isn't that nice? I mean, in the short term, I could sell all our fixtures for scrap and not worry about tomorrow. Shortsighted shit.

 

[Aredhel]

Poor Cornell how does he get by?