Thirty years ago, the only CEO’s that got multimillion dollar paydays were bigwigs in the oil, automobile, steel or railroad industries. The industry greats of years past have now been overshadowed by the new kings of wealth in the technology industry.
From computers to tablets to smartphones, technology has become a part and parcel of our lives. As technology companies emerge as some of the largest establishments worldwide, CEOs earn top dollar to ensure that their company strategies have the competitive advantage in the market while pleasing shareholders and consumers. Today’s tech companies boast more acquisitions and mergers than both banks and oil companies combined.
We found 10 CEOs that have established themselves at the top of the tech industry, earning big titles and big paychecks. Let’s start with a former engineer who decided to collaborate on a startup company in the 1980’s, at which point his entire life changed.
#10 – John Chambers (Cisco Systems, $21 Million/Year)
John Chambers traveled around the country as a young man to get his education. He earned degrees at both West Virginia University and Indiana University, and also attended Duke University. After Chambers completed his many years of schooling, he started working in tech sales at IBM when the company was still very young. After great success at IBM, Chambers moved on to Wang Laboratories and quickly climbed the corporate ladder, becoming their Vice President of Operations.
After almost a decade with Wang Laboratories, Chambers left the corporation to join Cisco, a company that had just gone public the year before. Due to Chambers success with one of Cisco’s startups involving IBM, Cisco quickly named him CEO. Chambers still holds the position and has increased Cisco’s revenue from $70 million to $46 billion during his tenure with the company. His reward has been a $21 million annual salary.
#9 – Marissa Mayer (Yahoo!, $24.9 Million/Year)
Marissa Mayer is just in her late 30’s and has been the President and CEO of Yahoo! since the summer of 2012. Before working with the internet company, Mayer was headed down a much different career path. She attended Stanford University with the initial intention to become a neurosurgeon. But after a short period of time, Mayer switched her program to symbolic systems, and was teaching classes by her junior year.
After graduating from college, Mayer was highly sought after by leading corporations. She was hired by Google in 1999 as an engineer and was promoted several times throughout her tenure. Yahoo! needed a new CEO in 2012 and intended to poach someone away from Google, the search engine that had been dominating the market. Mayer was the perfect fit. Although shares are not at an all-time high for Yahoo!, Mayer is still raking in almost $25 million per year.
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