$21.7 million and he can't afford a financial planner?

Qualcomm CEO receives $25,000 perk for financial planning ... and he's not alone


Qualcomm CEO Paul Jacobs last year earned $21.7 million in total compensation, up 23% over the paltry $17.6 million he took home in 2010.

And as part of that handsome pay package, Jacobs received a specified sum -- $25,000 -- for "financial planning."

Don't ask me why.

(2012's 25 Geekiest 25th Anniversaries)

Personally, I would think that someone taking down north of $20 million should be able to afford the services of a financial planner out of his own pocket. Or that he could forgo professional financial advice altogether and just wing it; I mean he's got to be pretty good with money to earn all that money, and short of blowing it all in Vegas, how much harm could he do?

But there it is right in Qualcomm's SEC filing: $25K to the big guy for financial planning.

So I asked my Network World colleague Ann Bednarz, who wrote our story about Jacobs' pay, if she thought the financial planning item was unusual. No, was her answer, and she sent me this passage from a story she wrote last year about executive perks:

Symantec CEO Enrique Salem didn't receive a lot of perks in 2010, but he did net $10,000 as a reimbursement for tax services. Other tech CEOs who benefited from expert financial and advice include: Motorola Mobility's Jha ($25,348 for legal fees); HP's Lesjak ($18,000 for financial counseling); EMC's Tucci ($15,000 for financial planning); AT&T's Stephenson ($14,000 for financial counseling, including tax preparation and estate planning); and former HP chief Hurd ($13,500 for financial counseling).

Nice work if you can get it.

Join the Network World communities on Facebook and LinkedIn to comment on topics that are top of mind.
Now read: Getting grounded in IoT