It was announced today that Larry Ellison, CEO of Oracle has agreed to be paid a salary of $1 for the upcoming fiscal year, down from the $1 million he got in the 2009 fiscal year. The move comes after Ellison was criticized at last fall’s annual meeting for making $543.8 million when he exercised 36 million stock options. And it’s not only the stockholders expressing concerns over Ellison’s significant executive compensation.
Here’s what employees have to say:
Stock option grants are small and infrequent while Larry and his cronies give themselves millions every year. – Oracle Director (Redwood City, CA)
NO pay raises. No advancement opportunities. Too many management levels; almost no real communication from upper management. Executives get high pay and stock options; workers get nothing. Stock purchase plan for employees is a joke. – Oracle Systems Engineer (Location n/a)
Company does not reward company loyalty. Employees promoted from within are usually paid 30-40% below external hires. – Oracle Sales Representative (Dublin, Ireland)
Here’s how Oracle employees’ salaries compare to Ellison’s:
Larry Ellison currently holds a moderate 63% approval rating and a 13% disapproval rating, and interestingly, he falls among the top 100 highest rated CEOs on Glassdoor.com as of today (ranking #85 among CEOs with more than 25 reviews).