Google: $500,000 sign-on bonus
By Pulkit Sharma

On June 25, Google made a public announcement about the appointment of Patrick Pichette as its new Chief Financial Officer and Senior VP.  Patrick, 45, will be joining the Google HQ in USA on August 12, 2008. How much will Google pay its CFO? According to Google documents filed with the American Government, Patrick’s annual base salary will be $450,000 and his discretionary target bonus percentage will be 150 percent of his annual base salary. 

Google has agreed to pay Patrick a special one-time sign-on bonus of $500,000.

According to the filings with the US Securities and Exchange Commission: “ Google has agreed to pay Patrick an additional special bonus of $500,000 (taxed as supplemental income) upon completion of six months of employment. In the event that Patrick’s employment is terminated by Google prior to the end of this six-month period, this additional bonus will be paid out in full within 30 days of the date of termination”.

Last but not the least, Google will offer their new CFO millions of dollars of shares.

By the way, the last CFO George Reyes earned more than $200 million dollars in income and shares while at Google.

Patrick Pichette was President, Operations for Bell Canada when Google made the offer. Before joining Bell Canada, Patrick Pichette was a principal at McKinsey and Company from 1996 to 2000. He served as Vice President and Chief Financial Officer of Call-Net Enterprises, a Canadian telecommunications company, from 1994 to 1996.

Mr. Pichette did a BA in Business Administration from Montreal and an MA in Philosophy Politics and Economics from Oxford University, where he attended as a Rhodes Scholar.