Tuesday, July 16, 2019

Costco Wholesale Corp Top-Tier Executives Average Pay Raise Was a Very Reasonable 7.1% Per Year During the Past Ten Years (Aug 2009-Aug 2018)

From Company Proxy Statement filings with the SEC, below are Costco's Top-Tier Executives Annual Total Compensation for each of two consecutive full years of employment for the most recent ten years.

Costco has a stock market cap of $123 bil.  

Costco's Top-Tier Executive Group received an Average Annual Pay Raise of a clean 7.1% per year over the past 10 years and had an Average Total Compensation in 2018 of $4.761 mil per Top-Tier Executive.  Costco also pays its workers substantially above market ..... this is what I call US Capitalism As It Should Be.   

As one perspective, Goldman Sachs has a stock market cap of $78 bil.  That means it is worth 37% less than Costco.

Goldman Sachs Top-Tier Executive Group received an Average Annual Pay Raise of 122.7% per year for the past ten years and also had an Average Total Compensation in 2018 of $20.046 mil per Top-Tier Executive, more than FOUR TIMES that of Costco's Top-Tier Executives.

If all US Companies were as socially responsible as Costco, the most critical problem the US faces, which is at the root of so many other US problems, ..... Massive and Continually Growing Income Inequality ..... will be gone. 


FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE

Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Costco Wholesale
2018
2017
2017
2016
2016
2015
2015
2014
2014
2013
Top-Tier
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total
Executive
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
Craig Jelinek CEO       7,409       6,621       6,621       6,503       6,503       6,340       6,340       5,625       5,623       5,385
Richard Galanti CFO       4,287       3,989       3,989       3,906       3,906       3,746       3,746       3,353       3,352       3,147
Joseph Portera COO-Eastern and Canada Div       4,100       3,829       3,829       3,770       3,770       3,646       3,646       3,310       3,325       3,042
Paul Moulton Chief Information Officer       4,023       3,773       3,773       3,728       3,728       3,588  N/A   N/A     
James Murphy COO-International Division       3,985       3,713       3,713       3,654  N/A   N/A     
Jeffrey Brotman Former Chairman  N/A   N/A        6,482       6,311       6,311       5,630       5,630       5,103
Dennis Zook-COO Southwest Div & Mexico       3,846       3,777       3,777       3,625       3,625       3,294       3,295       3,028
Totals     23,804     21,925     25,771     25,338     28,166     27,256     23,668     21,212     21,225     19,705
Annual % Change vs Prior Year 8.6% 1.7% 3.3% 11.6% 7.7%
5 Year Average Per Year % Change 6.6%
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE
FYE

Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Aug
Costco Wholesale
2013
2012
2012
2011
2011
2010
2010
2009
2009
2008
Top-Tier
Total
Total
Total
Total
Total
Total
Total
Total
Total
Total
Executive
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
Comp
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
$ 000s
Craig Jelinek CEO       5,385       4,811       4,811       3,336       3,336       2,264       2,264       1,835       1,835       2,354
Richard Galanti CFO       3,147       2,826       2,826       2,390       2,390       2,233       2,233       1,832       1,832       2,385
Joseph Portera COO-Eastern and Canada Div       3,042       2,738       2,738       2,330       2,330       2,198       2,198       1,787       1,787       2,307
Paul Moulton Chief Information Officer       3,039       2,724       2,724       2,303  N/A   N/A     
James Murphy COO-International Division
Jeffrey Brotman Former Chairman       5,103       4,539       4,539       3,757       3,757       3,525       3,525       2,736       2,736       3,853
Dennis Zook-COO Southwest Div & Mexico  N/A   N/A        2,730       2,314       2,314       2,185       2,185       1,765       1,765       2,293
James Sinegal Former CEO  N/A   N/A        2,191       3,529       3,529       2,737       2,737       3,829
Richard DiCerchio Former COO  N/A   N/A        2,075       2,708
Totals     19,716     17,638     20,368     16,430     16,318     15,934     15,934     12,692     14,767     19,729
Annual % Change vs Prior Year 11.8% 24.0% 2.4% 25.5% -25.2%
10 Year Average Per Year % Change 7.1%