The CEO of Sony earned a whopping annual salary of $1.6 million. PS4 maker Sony is back to earn profits after five year and so Kazuo Hirai got 153 million yen as compensation.
Since the past five years, Sony has not seen the sort of profitability that came its way in 2013. That is why Kazuo Hirai, the CEO of the company, received an annual reimbursement of $1.6 million. According to Bloomberg, that is almost double of what he was getting a year ago. Besides, a year back he was the Executive Deputy President. Hirai, who is a ripe 52 years of age, received less than Toyota Corporation’s President. Toyota’s head had also revived profits for his company. And the Toyota President had joined five years ago.
Don't Miss: Nintendo Switch: Everything You Need To Know
Sony is the maker of PlayStation 4 consoles and Bravia TV sets. Hirai has recently vowed to drive up productivity and profitability. Sony is behind other big companies in the sales of its TVs and smart phones. The game plan is one of expanding into brand new markets and businesses. The giant corporation showed an increase of 1.7 % in the Tokyo Stock Exchange. This is a great improvement over the previous month’s figure. It shows a progressive growth of 8.4%. Other CEOs and heads had various different salaries. Apple’s CEO, Tim Cook rakes in $4.17 million. Nokia’s CEO, Stephen Elop earns $5.6 million per year. Ford Motor’s Alan Mulally took home a humongous salary that amounted to $21 million last year.
The salaries of individual heads of corporations have fluctuated with the times. But the ordinary rule is that they increase with time and that counts for every person in society. Where there is inflation there is a compensatory drive at work too. This is the increase in wages. The two do not always match equally in their proportionate values. Yet there is a connection that exists between the prices in the market and the salaries of individuals.
It is a natural law that with the progress of time everyone in society finds him or herself floating along in the economic Zeitgeist. While there are wide gaps between salaries, they are there for a reason. The competition set up due to greater rewards for a lucrative position means that people will strive for it. If a doctor got the same amount of money as a plumber, no one would be willing to undergo the hard work necessary to become a doctor. Thus we can understand the fact that Kazuo Hirai got the $1.6 million as his just desserts for helping Sony out of a rut. And he deserves each cent of that money.
Image Credit: Getty Images