Meta raises executive bonuses to 200% of base salaries to keep pace with competitors

Meta has approved an increase in the target bonus percentage in its annual executive compensation plan. Under the new plan, the company’s appointed executives can earn a bonus of up to 200% of their base salaries, up from 75% they were previously given.

A committee of Meta’s board of directors approved the change on Feb. 13 after determining that the total targeted cash compensation “for its executives was at or below the 15th percentile of the total targeted cash compensation for executives at comparable companies.”

After the increase, the total targeted cash compensation for appointed executives (excluding the CEO) is now at approximately the 50th percentile of the target cash compensation for the comparable group, according to CNBC.

The unveiling of the new executive compensation plan comes a week after Meta began laying off 5% of its total workforce. The company had previously said the decision would impact its lowest-performing employees.

Meta has also cut its annual distribution of stock options by about 10% to thousands of employees, according to a Financial Times report on Thursday. The report noted that the reduction in stock options could vary depending on where employees live and their position at the company.