Tech companies are paying top tech executives millions to work on their products.
But if they’re doing it out of necessity, the companies are also not doing so because they’re trying to save money, according to new research from McKinsey & Co. The study shows that companies pay top tech execs more to work with them because they believe it’ll save money and keep them on top.
In other words, the paychecks they receive from the companies could go towards salaries, not just to get the technology they want.
The report also shows that the pay is contingent on a tech exec working on a product.
“If you have a product that you need, then the money you get from a top tech CEO will go towards that product,” said McKinsey’s co-founder Peter Fenn.
The research shows that tech companies are making money off of executives’ ideas, but they’re also paying top execs to help them build those products.
The companies are spending millions to hire top tech leaders.
They’re also doing this to keep their top executives on top, and keep their businesses afloat.
They are also using the money to hire a large number of engineers.
In addition, they are paying the top tech executive a salary that they can then spend on technology, or “other types of benefits,” according to the study.
The top tech CEOs in Silicon Valley make $10 million a year, according the study, and the pay for them is tied to their top-tier software.
The CEO of a tech company making $10m makes $4.9 million a month.
And for companies with revenues of $1 billion or more, the CEO’s salary is $3.9 billion a year.
“The reason they do it is because it’s their job,” Fenn said.
The findings of McKinsey and Fenn’s study come as companies struggle with slowing growth and declining sales.
The latest numbers from the tech industry show that the top 10 tech companies have revenues of just $2.2 trillion.
This year, it is expected to be even lower, at $1.3 trillion.
Fenn, a former venture capitalist, said that as tech companies try to slow down, they have to look for ways to keep tech executives on the payroll.
“I think the bottom line is that if they want people to be happy, they need to pay them more,” Fann said.
“And the best way to pay people more is to have more people with more experience and more knowledge.
The more knowledge and experience you have, the more people you can attract to your company.”
The study looked at how tech companies structured their compensation packages.
“Companies that have high retention rates, like Google and Facebook, and that have lots of high-quality engineers and the right skills, they tend to pay very well,” Finn said.
He said that the money that the CEOs get from their companies is dependent on the quality of the tech products they’re working on.
“You’re paying them to make sure that their products work,” he said.
FENN, who has been working on this research for years, said companies are going to be paying executives more if they are going after a specific goal.
The tech companies also need to ensure that their top tech hires will stay on for years.
“So they have this very good product that’s been developed and that they’re making money from,” FENN said.
But Fenn believes that there is more to the pay, than just the revenue.
“They need to have the right people and the talent to make that product work,” Fohn said.
As technology companies struggle to compete in a global market, they must also be careful about how much they pay their top employees.
“People need to understand that if a CEO is making a billion dollars a year and he doesn’t want to do more, he needs to be willing to pay less,” Faiden said.