Google is known for having an informal corporate culture. On Fortune Magazine's list of best companies to work for, Google ranked first in 2007 and 2008 and fourth in 2009 and 2010. Google's corporate philosophy embodies such casual principles as "you can make money without doing evil," "you can be serious without a suit," and "work should be challenging and the challenge should be fun."
Google's stock performance following its IPO has enabled many early employees to be competitively compensated. After the company's IPO, founders Sergey Brin and Larry Page and CEO Eric Schmidt requested that their base salary be cut to $1. Subsequent offers by the company to increase their salaries have been turned down, primarily because their main compensation continues to come from owning stock in Google. Prior to 2004, Schmidt was making $250,000 per year, and Page and Brin each earned a salary of $150,000.
In 2007 and through early 2008, Google has seen the departure of several top executives. In October 2007, former chief financial officer of YouTube Gideon Yu joined Facebook[155] along with Benjamin Ling, a high-ranking engineer.[156] In March 2008, Sheryl Sandburg, then vice-president of global online sales and operations, began her position as chief operating officer of Facebook[157] while Ash ElDifrawi, formerly head of brand advertising, left to become chief marketing officer of Netshops, an online retail company that was renamed Hayneedle in 2009.
As a motivation technique, Google uses a policy often called Innovation Time Off, where Google engineers are encouraged to spend twenty percent of their work time on projects that interest them. Some of Google's newer services, such as Gmail, Google News, Orkut, and AdSense originated from these independent endeavors.[159] In a talk at Stanford University, Marissa Mayer, Google's Vice President of Search Products and User Experience, showed that half of all new product launches at the time had originated from the Innovation Time Off.
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