Knowledge (XXG)

One-dollar salary

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67: 53: 39: 113:. U.S. law forbids the government from accepting the services of unpaid volunteers. Those employed by the government had to be paid a nominal salary, and the salary establishes their legal relationship as employees of the government. During World War I, about 1,000 such people were employed by the United States. While they received only a dollar in salary from the government, most executives had their salaries paid by the companies. 89:. The concept first emerged in the early 1900s, where various leaders of industry in the United States offered their services to the government during times of war. Later, in the late 1990s and early 2000s, many business executives began accepting one-dollar salaries—often in the case of struggling companies or startups—with the potential for further indirect earnings as the result of their ownership of 345:
Executives argue that remuneration through stock instead of salary ties management performance to their financial benefits. The assumption is that stock prices will reflect the actual value of a company, which reflect the management performance of the company. Detractors argue that this incentive may
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and stated plans to donate all of his salary during the term. Since then, President Trump donated his salary to various Federal Departments, fulfilling his campaign promise to do so. However, he did bill the US government, in particular the
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While many executives who take a one-dollar salary also choose not to take any other forms of compensation, a number earn millions more in bonuses and/or other forms of compensation. For example, in 2010–11
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on the Code of Fair Competition for the Petroleum Industry as Chairman of the Blazer Committee and a second time during World War II as Chairman of District II Refining for President Roosevelt's
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In the early-to-mid-20th century, "dollar-a-year men" were business and government executives who helped the government mobilize and manage American industry during periods of war, notably
1538: 1507: 2133: 1873: 1741: 1112:"'E Pluribus Unum!' 'One Out of Many' An Oil Company Grows Through Acquisitions, An Address at Lexington by member Paul G. Blazer, American Newcomen Society, copyright 1956 (page 6)" 1814: 1609: 1135: 2155: 1365: 204: 1906: 904: 2241: 2101: 2335: 2013: 2309: 1166: 2259: 2181: 1308: 1783: 1837: 2277: 1561: 2506: 2203: 1143: 768: 129: 121: 1640: 1416: 1530: 1499: 816: 1035: 2409: 2123: 2070: 1271: 1222: 1199: 1045: 1009: 1863: 1745: 1473: 393: 1806: 934: 2040: 1111: 645: 2378: 1953: 1391: 200: 794: 335: 1663: 1097: 1093:
National Archives Identifier: 7261744 HMS Entry Number: NC-79 28 Records Relating to the Blazer Committee Hearing, 1933 – 1936
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Captains of Industry Crewing the Ship of State: Dollar-a-Year Men and Industrial Mobilization in WWII Canada, 1939-1942
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Cuff, Robert D. (1967). "A 'Dollar-a-Year Man' in Government: George N. Peek and the War Industries Board".
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Some recent one-dollar salary earners worked in government as well, most notably former California governor
249: 2534: 1575: 1411: 821: 543: 363: 227: 760: 715: 623: 609: 359: 320: 280: 261: 231: 196: 195:(1890–1966), served twice as a government salaried dollar-a-year man: from 1933 to 1935 under President 155:
was the first businessman employed for a one-dollar salary. World War I, the Advisory Commission to the
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was a dollar-a-year man as legal counsel on various congressional committees, befriended U.S. Senator
1304: 467: 164: 128:, Secretary of Labor appointed a five-member Labor Advisory Board, of whom two members came from the 2461:
Serving two masters: Problems in the employment of dollar-a-year and without compensation personnel
457: 453: 241: 160: 2062: 1267: 1230: 1207: 988: 299:, to take up a $ 1 salary. The petition was unsuccessful but gained international media coverage. 2493: 2485: 1171: 956: 739: 725: 719: 553: 533: 389: 309: 16:
Nominal salary used in situations where an executive wishes to work without direct compensation
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made only $ 1 in salary, but earned over $ 77 million in other forms of compensation.
38: 2362: 2009: 1976:"WhatsApp founders Jan Koum and Brian Acton own nearly $ 9 billion in Facebook stock" 639: 603: 589: 519: 327: 176: 141: 125: 117: 2431: 2219:"MicroStrategy CEO reduces pay to $ 1 from $ 875,000 following criticism of stewardship" 982: 1945: 1715: 1387: 1074:"National Recovery Administration: Code of Fair Competition for the Petroleum Industry" 665: 655: 473: 413: 409: 192: 152: 133: 44: 2523: 2497: 705: 679: 659: 649: 629: 563: 549: 463: 313: 275:
After promising to take only a dollar a year in November 2016, former U.S. President
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In 2015, then 15-year-old Corbin Duncan petitioned the Australian Prime Minister,
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A number of top executives in large businesses and governments have worked for a
1244: 1096:. Record Group 232: Records of the Petroleum Administrative Board, 1924 - 1936. 695: 675: 599: 579: 569: 539: 479: 331: 265: 102: 689: 685: 559: 379: 324: 289: 223: 208: 110: 72: 2374: 1664:"IRS Extends Indefinitely Stock Option FICA/FUTA Tax Withholding Moratorium" 1566: 1167:"Doris Duke, 80, Heiress Whose Great Wealth Couldn't Buy Happiness, Is Dead" 709: 447: 419: 86: 2242:"MicroStrategy's Saylor Reaps a Stock Windfall During Bitcoin's Record Run" 354:
The following people have been employed for annual salaries of one dollar:
761:"A Dollar for Your Thoughts: Silicon Valley's Famed Single-Digit Salaries" 230:", created a rearmament program using "dollar-a-year men". An example was 1901: 593: 573: 493: 489: 2489: 1073: 1010:"The Century-Long History of Tapping Wall Street to Run the Government" 613: 483: 144:, and wound up as a dollar-a-year man in President Truman's cabinet. 2260:"Marvell Tech's CEO, Acting COO Take Salary Cut, Each To Be Paid $ 1" 845: 699: 513: 437: 427: 383: 93:. Many choose to reduce their salary so they can avoid income taxes. 2481: 159:
was staffed largely by dollar-a-year men, including Bernard Baruch,
2447: 583: 373: 212: 90: 1864:"The real story behind Snap CEO Evan Spiegel's $ 1-a-year salary" 1868: 1500:"Brisbane teenager calls on Malcolm Turnbull to take $ 1 salary" 503: 1531:"Why I want the Prime Minister to give up his $ 500,000 salary" 927:"One Dollar a Year Men May Lose Two Months' Pay Because of Tax" 2037:"The Goldman Sachs Crew That's Helping Run Trenton Government" 1571: 2124:"Facebook founder Mark Zuckerberg's base salary falls to $ 1" 967:
from the original on April 22, 2018 – via Google Books.
1407:"Is Donald Trump Actually Donating His Presidential Salary?" 2180:. KPCC. Southern California Public Radio. January 6, 2012. 1807:"Musk Gets $ 4.3 Million of Stock Options for Model X Work" 1474:"House panel: Trump's bills to Secret Service 'exorbitant'" 319:
In some cases, in lieu of a salary, the executives receive
21:"Dollar-a-year man" redirects here. For the 1921 film, see 244:, a position for which he served for free. Others include 2446:
Hamm, Sophia; Jung, Michael J.; Wang, Clare (Fall 2015).
1245:"The History of Metropolitan Vancouver - 1965 Chronology" 1037:
The United States in the First World War: An Encyclopedia
1562:"The myth of the $ 1 CEO – 1 – executive compensation –" 871:"31 U.S. Code § 1342 – Limitation on voluntary services" 288:, exorbitantly to protect him when he spent his time at 2404:. New York: Houghton Mifflin Harcourt. pp. 72–73. 2363:"Citigroup's Pandit Takes $ 1 in Compensation for 2010" 1268:"Zuckerberg's One-Dollar Salary: Why Do CEOs Do That?" 124:
employed several dollar-a-year men. On June 19, 1933,
2312:. Investor.apple.com. January 7, 2009. Archived from 120:, working for Theodore Roosevelt. After Pinchot, the 2338:. Investor.apple.com. April 16, 2007. Archived from 1744:. About.telus.com. December 31, 1999. Archived from 1742:"TELUS Annual Report 2011 – CEO letter to investors" 945:– via California Digital Newspaper Collection. 279:
donated the first three months of his salary to the
817:"Vanderlip Leaves Biggest Bank and Will Aid McAdoo" 346:drive short-term planning over long-term planning. 2094:"Zynga CEO volunteers to reduce his salary to $ 1" 846:"Why some of America's top CEOs take a $ 1 salary" 1780:"13 top executives who make a $ 1 salary or less" 728:(Chairman of the Office of Production Management) 240:, who was appointed Director of Licences for the 2240:Kharif, Olga; Contiliano, Tom (April 24, 2024). 1828: 1826: 1824: 1666:. Weil, Gotshal & Manges LLP. Archived from 2006:"10-Q Watch: Yahoo's Acquisitions; Yang Salary" 1603: 1601: 1599: 1597: 1595: 1593: 136:, was a dollar-a-year man. Progressive lawyer 791:"10 High-Powered Executives with $ 1 Salaries" 323:. In the United States, this approach impacts 2454:. Vol. 32, no. 3. pp. 941–972. 8: 1940: 1938: 984:Sidney Hillman: Statesman of American Labor 2463:(PhD dissertation). Princeton University. 2448:"Making Sense of One Dollar CEO Salaries" 1332:"Tax-Smart Billionaires Who Work For $ 1" 897:"How World War I Transformed Washington" 211:worked in a canteen for U.S. sailors in 2178:"How does a dollar a year salary work?" 1616:from the original on September 24, 2015 1510:from the original on September 10, 2016 1394:from the original on November 15, 2016. 1295:"How does a dollar a year salary work?" 751: 476:(former President of the United States) 122:United States Department of Agriculture 2290:from the original on September 7, 2012 2184:from the original on February 2, 2014. 2016:from the original on February 10, 2009 1956:from the original on November 15, 2016 1909:from the original on February 20, 2017 1857: 1855: 1817:from the original on January 16, 2014. 1643:from the original on September 7, 2009 1635:Mayerowitz, Scott (December 3, 2008). 1541:from the original on February 19, 2018 963:. New York. July 6, 1918. p. 16. 844:Crockett, Zachary (December 8, 2019). 771:from the original on February 16, 2013 31:Notable earners of one-dollar salaries 2381:from the original on February 2, 2017 1897:"15 top executives with $ 1 salaries" 1840:from the original on December 7, 2012 1773: 1771: 1769: 1767: 1765: 1763: 1311:from the original on February 2, 2014 1255:from the original on January 3, 2017. 303:Instances of alternative compensation 7: 2248:from the original on April 29, 2024. 1876:from the original on August 18, 2017 1786:from the original on August 16, 2015 1608:Herbst, Moira (September 14, 2007). 1356:Chandler, Adam (November 16, 2016). 1179:from the original on August 26, 2012 1142:. September 20, 1926. Archived from 1080:from the original on August 8, 2014. 797:from the original on January 6, 2013 394:Prime Minister of the United Kingdom 2229:from the original on July 26, 2024. 2217:Heath, Thomas (September 8, 2014). 2206:from the original on June 28, 2015. 2073:from the original on March 19, 2018 1946:"How common is Trump's $ 1 salary?" 1716:"How common is Trump's $ 1 salary?" 1560:Brush, Michael (January 17, 2012). 1419:from the original on June 26, 2017. 1388:"How common is Trump's $ 1 salary?" 1368:from the original on March 19, 2018 1293:Ferguson, Kevin (January 6, 2012). 1136:"Fuller Explains Refusal of Salary" 1100:from the original on April 2, 2015. 1034:Cipriano Venzon, Anne, ed. (1999). 937:from the original on March 20, 2018 907:from the original on March 20, 2018 877:from the original on March 12, 2014 2156:"HP CEO Meg Whitman's salary: $ 1" 2136:from the original on April 2, 2014 2104:from the original on April 9, 2013 2035:Chen, David W. (October 4, 2006). 1805:Durisin, Megan (August 10, 2013). 1778:Gillet, Rachel (August 14, 2015). 1637:"The Other Side of the $ 1 Salary" 1529:Duncan, Corbin (October 2, 2015). 1274:from the original on April 3, 2013 116:The first known such employee was 14: 2361:Dash, Eric (September 24, 2010). 2043:from the original on June 8, 2011 1330:Wood, Robert W. (April 5, 2014). 1266:Tuttle, Mike (February 3, 2012). 759:Isaac, Mike (February 10, 2012). 350:Notable one-dollar salary earners 268:, and former New York City mayor 234:, the owner and publisher of the 207:. During World War II, socialite 2514:(Thesis). University of Calgary. 2452:Contemporary Accounting Research 2092:Grubb, Jeffrey (April 5, 2013). 264:, former Massachusetts governor 201:National Recovery Administration 189:Ashland Oil and Refining Company 65: 51: 37: 1431:"Trump-O-Meter: Take no salary" 1405:Nguyen, Tina (March 13, 2017). 1165:Pace, Eric (October 28, 1993). 1040:. Routledge. pp. 203–204. 873:. Legal Information Institute. 334:(typically 7.65%) used to fund 205:Petroleum Administration of War 1610:"The Elite Circle of $ 1 CEOs" 524:President of the United States 404:President of the United States 1: 2196:"The 3.55 Billion Dollar Man" 1862:Wells, Nick (March 1, 2017). 2430:Kimes, Mina (June 1, 2011). 1227:Canada's Digital Collections 1204:Canada's Digital Collections 957:"Exit the Dollar-a-Year Man" 130:Amalgamated Clothing Workers 2470:The Business History Review 2459:Reagan, Michael D. (1959). 2432:"A $ 1 CEO isn't a bargain" 157:Council of National Defense 2563: 1390:. BBC. November 14, 2016. 20: 1535:The Sydney Morning Herald 1062:– via Google Books. 183:New Deal and World War II 2505:Stewart, Jeremy (2013). 2402:The Arsenal of Democracy 1834:"Google SEC Filing 2006" 1782:. Business Insider Inc. 1300:The Madeleine Brand Show 833:– via Google News. 670:Marvell Technology Group 2063:"The Dollar-a-Year Man" 1358:"The Dollar-a-Year Man" 1223:"John Wilson McConnell" 1200:"Clarence Decatur Howe" 250:Austin Cotterell Taylor 175:Massachusetts Governor 2400:Baime, Albert (2014). 1506:. September 26, 2015. 822:The Owosso Argus-Press 642:(Mayor of Los Angeles) 544:Governor of New Jersey 364:Governor of California 228:Minister of Everything 1952:. November 14, 2016. 1687:The Future of Success 1233:on November 27, 2009. 987:. Doubleday. p.  716:William Clay Ford Jr. 624:Capital One Financial 610:N. R. Narayana Murthy 360:Arnold Schwarzenegger 281:National Park Service 262:Arnold Schwarzenegger 232:John Wilson McConnell 197:Franklin D. Roosevelt 59:Arnold Schwarzenegger 23:The Dollar-a-Year Man 2336:"Apple's 2007 Proxy" 2310:"Apple's 2009 Proxy" 2278:"Apple's 2012 Proxy" 1986:on February 20, 2017 1690:. A. Knopf. p.  1670:on November 9, 2013. 1662:Margolis, Steven M. 1124:on December 1, 2008. 825:. September 25, 1917 574:Chrysler Corporation 468:Broadcom Corporation 165:Herbert Bayard Swope 132:union, of whom one, 2266:. January 16, 2008. 2223:The Washington Post 2166:on October 1, 2011. 1748:on February 4, 2013 1722:. November 14, 2016 1684:(January 9, 2001). 1249:vancouverhistory.ca 1210:on August 31, 2009. 1146:on November 3, 2012 1054:on February 2, 2017 454:F. Thomson Leighton 312:'s founder and CEO 242:Wartime Trade Board 161:Robert S. Brookings 2540:Wages and salaries 2367:The New York Times 2244:. Bloomberg News. 2012:. August 9, 2007. 1980:The Economic Times 1480:. October 18, 2022 1172:The New York Times 1140:The New York Times 979:Josephson, Matthew 933:. March 14, 1919. 740:Peppercorn (legal) 720:Ford Motor Company 554:Oracle Corporation 534:Whole Foods Market 390:David Lloyd George 215:at such a salary. 2545:Lists of salaries 2530:Corporate finance 2411:978-0-547-71928-3 2342:on April 13, 2014 2316:on April 13, 2014 2132:. April 2, 2014. 1895:Fox, Emily Jane. 1612:. Bloomberg L.P. 1047:978-0-8153-3353-1 901:Politico Magazine 500:Jeremy Stoppelman 270:Michael Bloomberg 218:In Canada during 191:founder and CEO, 97:Dollar-a-year men 83:one-dollar salary 2552: 2515: 2513: 2501: 2464: 2455: 2442: 2440: 2438: 2416: 2415: 2397: 2391: 2390: 2388: 2386: 2358: 2352: 2351: 2349: 2347: 2332: 2326: 2325: 2323: 2321: 2306: 2300: 2299: 2297: 2295: 2289: 2282: 2274: 2268: 2267: 2256: 2250: 2249: 2237: 2231: 2230: 2214: 2208: 2207: 2192: 2186: 2185: 2174: 2168: 2167: 2162:. 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Index

The Dollar-a-Year Man

Herbert Hoover

Arnold Schwarzenegger

Steve Jobs
volunteer
stock
World War I
World War II
Korean War
Gifford Pinchot
United States Department of Agriculture
Frances Perkins
Amalgamated Clothing Workers
Sidney Hillman
Max Lowenthal
Harry S. Truman
Bernard Baruch
Council of National Defense
Robert S. Brookings
Herbert Bayard Swope
Alvan T. Fuller
Ashland Oil and Refining Company
Paul G. Blazer
Franklin D. Roosevelt
National Recovery Administration
Petroleum Administration of War
Doris Duke

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