The Former CEO Of Domino's Had A Unique Job Perk — A Pizza Allowance
There's more to a job than just money. A study conducted by the U.S. Chamber of Commerce Foundation found that while paychecks definitely matter, nearly 56% of the employees surveyed said that the benefits influenced their decision when taking on a new job, and 63% agreed that the perks were one of the main reasons why they stuck with a company.
So what kind of perks are these? Paid time off, retirement planning, insurance, remote work, and free transport are all popular perks that come with a job. When it comes to working in the food and beverage industry, however, the perks look a tad different. Fast food chains like Chipotle offer tuition reimbursement on top of free food. Starbucks employees, or partners as they are called, get a share of company stocks along with free coffees to take home, and those working at McDonald's get access to McDPerks — a portal with all kinds of discount coupons.
Those who move up the rungs get even better benefits. In-N-Out managers, for example, get to go on all-expense paid holidays around the world upon meeting their goals. The CEOs of Domino's are no different. Their benefits packages often come with a spectacular perk on top of the usual — free pizzas!
Domino's gave its CEO thousands of dollars worth of free pizza
Domino's proxy filing with the SEC from last year lays out the compensation offered to its executive officers in 2021. Per the filing, Dominos paid then-CEO Richard Allison a whopping $7,138,002 including salary, stocks, and personal use of its corporate aircraft.
While a private jet may be a worthy plus, the former Domino's CEO had another perk. Allison was compensated $3,919 in "personal pizza purchases." Considering the price of the most expensive specialty pizza at the Domino's headquarters in Ann Arbor is $18.99, Allison probably got well over 200 free pizzas during his tenure as the CEO in 2021. Though it may seem like a lot of pizza, this was a surprisingly low year for Allison's pizza allowance. Financial Times reports that the former CEO received $5,000 in free pizza in 2019 and over $6,000 in 2020.
The former CEO wasn't the only one to enjoy a pizza allowance. Former COO and current CEO Russell Weiner was compensated $2,810 for his pizza orders whereas then International Executive Vice President Joseph Jordan ordered $2,252 worth of pizzas on the house. In contrast, former CFO Stuart Levy only cashed in a $252 pizza bill. While the exact number of pies the execs ordered isn't clear, a few thousand dollars in pizza allowance is a lot of free pizza. No wonder Allison called his time at Domino's the "privilege of a lifetime" in his retirement statement.