Earlier this year, we ranked the richest ad execs on the planet based on their annual income. But cash and stock aren't the full measure of economic life in adland's swankiest corner offices.
It's all about the perks, too. From private jets to country clubs, expert tax help to limo drivers, these guys — and yes, they're all men — want for nothing.
The numbers, as disclosed in corporate finance filings, substantially undercount the amount of money agencies spend on the lifestyles of advertising's rich and famous. Much of what these executives do includes wining and dining clients, often at fabulous restaurants; or taking them to sporting and cultural events. Execs also get a lot of their travel expenses paid for when they meet and pitch clients. Often their partners and other family members tag along.
And they expense all of it.
For instance, one of the execs has an eye-popping $41 million "golden coffin" — a payment that occurs if he dies.
Saatchi & Saatchi CEO Kevin Roberts probably has one of the most amazing travel packages in the business, considering how often he writes about exotic hotels and restaurants on his blog. But the value of it isn't fully disclosed by Publicis Groupe, his corporate parent.
Similarly, WPP CEO Martin Sorrell is known to be the best paid British adman (no mean feat in an industry where Brits over-index), but his perks package isn't detailed in WPP's annual report.
We've estimated their perks packages, based on those of their peers who have disclosed similar packages. For everyone else, we used corporate and SEC disclosures.
And, of course, we've ranked them all from poorest to richest.
Michael J. O’Brien, general counsel of Omnicom: $9,521 in "other compensation."
That's right: $10,000 is merely the entry level perks package on Madison Avenue. (We did find perks compensation that was even less than this, but it's so de minimis we decided to only start counting at $10K.)
Most of O'Brien's perks are a contribution to a savings plan.
Jack Klues, CEO at Vivaki: €6,432 "benefits in kind."
Parent company Publicis Groupe notes that Klues' benefits would not have been recorded if his car allowance had been "immaterial" to his compensation.
Philip Angelastro, svp/finance controller of Omnicom: $14,550 in "other compensation."
It includes an auto allowance of $7,200.
See the rest of the story at Business Insider
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