LinkedIn CEO Jeff Weiner's pay increases more than 40

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Windfall: LinkedIn CEO Jeff Weiner's pay increased more than 40-fold last year. Photo: AFP

LinkedIn chief executive Jeffrey Weiner's compensation rose more than 40-fold in 2013 to $US49.1 million ($53.1 million) amid big gains in the professional networking service's stock price, according to a regulatory filing.

Weiner received $US1.2 million in 2012 and $US7.6 million in 2011, the year the company went public.

Weiner's salary totalled $US583,750 for the year, up from $US535,000 in 2012. The bulk of his 2013 compensation package came from stock and option awards totaling $US47.4 million. He did not get stock or option awards in 2012.

He also received a cash bonus totalling $US1.1 million and $US4664 in other compensation that included 401(k) matching contributions and an iPad that was given to every employee.

In addition to his compensation, Weiner exercised stock options in 2013, reaping a windfall of $US169.8 million.

Weiner's compensation exceeds those of several of his social-media peers. Twitter CEO Dick Costolo made $US130,250 in 2013, the year the San Francisco-based microblogging company completed its initial public offering. Facebook CEO Mark Zuckerberg's total compensation last year was $US653,165, including a $US1 base salary and including the passenger fees, fuel, crew and catering costs for his use of private planes for personal reasons, as part of his security program.

LinkedIn's stock gained 89 per cent in 2013. The company finished last year with a strong showing. Its earnings grew 24 per cent to $US26.8 million, or 23 cents per share, from $US21.6 million, or 19 cents per share, in 2012.

Revenue climbed 57 per cent to $US1.53 billion from $US972.3 million. But the company indicated that its performance will weaken this year as management ramps up spending while revenue growth slows. Weiner said in February that LinkedIn will be spending 'significantly' on data centres and long-term projects that may take several years to pay off.

newsandtalking.blogspot.com formula calculates an executive's total compensation during the last fiscal year by adding salary, bonuses, perks, above-market interest the company pays on deferred compensation and the estimated value of stock and stock options awarded during the year.

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