Starbucks CEO Howard Schultz gets 80% pay boost

Howard Schultz got $28.9 million in total compensation for the fiscal year ending Sept. 30 -- an 80% increase from $16.1 million a year earlier, reports the Seattle Times' Melissa Allison. Starbucks' board of directors more than tripled Schultz's stock awards to $18 million from $5.5 million in fiscal 2011.

Schultz received $200,000 to cover his security expenses last year.

Starbucks’ next highest paid executive in 2012 was channel development president Jeff Hansberry, who got $4.4 million. Cliff Burrows, president of U.S. and other American operations, trailed him at $4.2 million, while CFO Troy Alstead received $4.1 million.
* Starbucks boosts CEO Howard Schultz's pay 80%

Comments

[Colorado Barista]

Wow. As a five year barista I got .48 cents per hour for the year. Yea me.

[nycx]

I didnt get my cost of living increase when i moved to nyc because i am too close to the salary cap for my position...id like what i have earned i dont need 80%

[BurntBean]

Same as it ever was. Bastards like Schultz will be allowed to continue to loot and steal from hard-working people until things change.

[I <3 music]

I just when I thought I couldn't hate this company anymore than I already do. Howard has no soul.

[Herman]

Does that include tips?

It is a fact of life that CEOs at the top of the pile get big bucks because without CEOs like Howard there would not be a pile at all.

[.]

Wait a second... So the board can approve an 80% raise for Howie, but can only approve the "basic" 401(k) match for baristas? Makes no sense.

[KDH]

Oh boy, I hope I still get my 25 cents/hour pay raise when I get my 6 month review! That's about 3%! I sure hope I get it!!!

*snark*

[Judy]

The Board of Directors voted the increase, so shouldn't the gripe be with them?

[Herman]

Judy - Howard bought and paid for the BOD long ago.

[BurntBean]

Herman - You got it backward. Without the baristas who sling coffee every day Howard would have no job.

[Barista Ben]

The board of directors of a billion dollar company gave the founder and CEO a huge pay increase after he took the stock from $8 to $56? Stop the presses, this is headline news.

Right.

[BurntBean]

Howard didn't do a damn thing, Ben. He didn't roast the coffee, make a drink, clean the bathrooms, talk to customers, restock a condiment bar, or any of the other hundred or so things that get the job done and earns the profit.

He deserves not a single red cent of that raise, and definitely not while benefits remain piss-weak and gutted when compared to pre-2008 levels.

[BitterGrounds]

Hmm...and just where did our sick an personal days go?

[baristanon]

Wow, where do you live that you get a 25 cent raise? I've never heard of anyone in my area getting more than 11 cents. :(

[Grande Latte]

SM's still get their personal days.

[SarahB]

"Howard didn't do a damn thing"

Now you're just being silly.

[FormerVanBarista]

When I worked at SBUX, this kind of news always infuriated me.
I get the fact that he's done a lot of good, but to echo BurntBean's comment, the 6 years I was employed, I ran my ass off for up to 8 hours a day, 5, 6, 7..even 10 days straight, and could only ever hope for as much as a 2 or 3% raise every 6 months.
It's never seemed right to me, and it still doesn't.

[frapatte]

I will never forget how when a good chunk of our pay and benefits were taken away, very apologetically, "The recession is hurting us all and we need to make sacrifices to survive." Well, so much for that. We survived and now we're doing BETTER than before the recession. Better enough that Howie is getting an %80 raise. And no word on those sacrifices. Everyone in my store is taking on second or third jobs because this pathetic pay-rate and raises don't even come close to allowing one to afford basic necessities.

[BurntBean]

SarahB - Identify a single thing Uncle Howard actually did.

[Goose]

We really didnt get a raise since it was taken back in taxes and social security. So after a year of working my ass off, my take home pay is less.3% is actually depressing

[SarahB]

"SarahB - Identify a single thing Uncle Howard actually did."

I'm not privy to that kind of information. I don't even know what my DM does, but that doesn't me they don't do anything. I never said he deserved this raise, I was just pointing out that saying he does nothing is silly. Because it is.

[Monica]

Amazing!
Taking the stock from $8 to $56 is nothing, and someone doesn't deserve a better payment because he never did what he created, designed, planned, and managed for years.
Incredible how things have changed since I've been born.

[Mitt Schlag]

Some partners are just more equal than others ...

[bill king]

howard didnt do anything to get the stock up to $56. less work hours allotted to the stores meant everyone did more work for less money and every quarter had a "magic bullet" of revenue that they could report to the stockholders to keep them n the game. BTW< the largest stockholder is Howard himself, so no one benefitted more. The managers were made to fill in for the decrease in labor with their unpaid salaried hours...60-65 hrs per week became the norm. No holiday bonus, only a store setup that had to be ready by Dec 26th opening, so you do the math...he's a monster and the company is dead to me.

[SarahB]

I don't know any managers who work 60 hour weeks. In fact, I don't know that many managers who even work a 40 hour week.