NBCU President Steve Burke Earned Nearly $34 Million in 2014
Comcast CEO Brian Roberts came in just behind at $33 million.
NBCUniversal president Steve Burke is making more than his boss, Comcast CEO Brian Roberts.
Burke's overall compensation rose to nearly $34 million last year, up from $31 million in 2013. He benefited from more than a million dollars more in stock and options awards. His salary was up slightly to $2.65 million as well.
As for Roberts, Comcast's chief earned nearly $33 million in 2014, up from $31.4 million the previous year.
The increased pay, revealed in a securities filing on Friday, reflects a bump in the value of his pension and deferred compensation. His salary remained relatively stable at nearly $2.9 million. He also got $5.3 million in stock awards, about the same in options awards, plus was given $9 million under the company's non-equity incentive plan.
Neil Smit, chief at Comcast Cable Communications, was the company's third-highest earner with $23.2 million, up from $17.4 million. He got nearly $4 million more in stock awards.
Comcast CFO Michael Angelakis made $18.9 million, down from $19.2 million.
David L. Cohen, a vice president at the company, made $13.5 million, as his compensation package fell for the second straight year.
In assessing Burke's performance, the Compensation Committee wrote, "Burke successfully managed NBCUniversal, which had revenue growth of 7.5 percent, or 2.9 percent when excluding $1.1 billion of revenue generated by the Sochi Olympics in 2014, and operating cash flow growth of 18.1 percent in 2014. We believe Mr. Burke's strategic vision (including his commitment to continuing to invest in our programming assets and theme park attractions) has been a critical factor in NBCUniversal attaining such strong results."
Going forward, Roberts is earmarked for a 2.5 percent increase in his base salary while Smit's salary will be increasing 15.5 percent thanks to a new employment agreement that extends his service at the company through 2019.
Burke's compensation was last higher than Roberts in 2010 — not very long after the companies merged.
Correction: The story originally reported that Burke had never made more than Roberts.