I was told yesterday that every VP at Cisco makes over $1M a year…Is there any validity to this? I’m sure it’s a combination of things and not just salary, but if this is true that is nuts.
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Dig up the employment contract info on MM. It was embarrassing what she was paid to contribute to the destruction of Cisco.
@4blm+1teWYiGu, $8M sign-on bonus!?! WTF?
https://www.sec.gov/Archives/edgar/data/858877/000119312520293020/d57787dex101.htm
This is pretty depressing but sadly normal. In my 20+ years at Cisco, some directors helped, most didn't and all my successful projects were done in spite of the VP not because of them. So for me it's less about the pure $, it's paying $1M to someone and the work has to get done in spite of them.
True
VP 900, 300-450k base 50% bonus with 1.5-2.0 IPF Stock is 700k/yr
SVP 500-600k base 100% bonus stocktarget 1.5m/yr
"A genuine question for Cisco - what do these extremely highly paid VPs bring to the table?"
Shucky and his puppet Fran will never answer this question, not to the employees and not to the corrupted board. In reality many of the VP's and above cause Cisco to lose money and after a few years collecting salary and compensation they leave. That is why Cisco is going downhill, because of weak corrupted leadership.
Just google, or ask chatgpt or glassdoor there are answers out there for this. Why do you want to be a VP?
Not sure about across the board but certainly in Sales: commission on their team's sales, bonus, RSUs, plus base.
It wouldn't be a problem (high compensation) if they have been held accountable. But they are not.
Collaboration, for example, was destroyed and non of the executives suffered any consequences. Engineers however, either lost their jobs, or won't see any salary increases, let alone promotions.
@szi+1teWYiGu “hard-working IC’s”? Really? SMH. You should be working at a non-profit.
What is a VP? There are VP, SVP, EVP, and so on. I'm sure many are on less than $1m and quite a few are on heaps more.
Then there are "positions" working for an EVP that are required to be at VP even if there is almost no difference between their role and the same role working for a Director (where they would only be a senior manager). Think corporate comms or business operations or even HR. I don't expect these "VPs" would earn anywhere near a business line manager that's responsible for a $500m - $5B run rate.
Between VP/SVP/EVP that’s about half a billion.
I was told yesterday that every VP at Cisco makes over $1M a year [..] , but if this is true that is nuts.
My buddy is flipping burgers at Mc Donalds. He is complaining about these high IT salaries at Cisco and elsewhere. Just because he is complaining, should we now feel bad and lower our salaries?
Cisco pays competitive salaries, at least they claim so. How much do VPs get at other companies?
@ @xkd+1teWYiGu, Why does it matter? Because Cisco lays off many talented and hard-working ICs almost every six months, bringing trouble to their families and making them pay for the failures of those overpaid VPs, SVPs, Directors.
Unsurprising. Directors easily knock down $750K.
Why does it matter?
"A genuine question for Cisco - what do these extremely highly paid VPs bring to the table?"
Cut costs. Corporations pay executives to cut costs without harming the brand.
CR can layoff 30,000 employees and a few people will whine about the lack of engineering innovation. That's why CR is paid the big bucks.
A more genuine question would be is as a male VP - do you get hard ? Or as a female VP do you feel se-y ? What do you do with the money outside of pay mortgage and kids school/insurance?
A genuine question for Cisco - what do these extremely highly paid VPs bring to the table? If they are paid a million plus, they must be bringing at least ten millions in revenue by their own individual efforts. Do they pass the litmus test and deserve a yearly salary that most ICs strive to save in their lifetime, if that is even possible… Creating a toxic culture and leading with fear and LRs is hardly a pass for their pay. Don’t we all agree there are just too many VPs? Close to 80% cut in their rank and file with save LRs and increase Cisco profits and stock price.
Yes, true. And there are a couple of grades of VP and SVP. A mix of base/stock/bonus, easily around $1m.
Probably a base salary of 500K and rest bonus and RSUs (which are really likely guaranteed I'd assume at that level no matter what the performance level is unless you are a terrible VP which is not an acknowledged thing here). So yes, 1M sounds about right to me.