Time will tell, according to TheStreet's readers.

CUPERTINO, Calif. (TheStreet) -- Is Apple(:AAPL) CEO Tim Cook worth his whopping $378 million in total compensation? For most respondents to TheStreet's recent poll on Cook's compensation, the jury's still out.

While just 41% of people said Cook was well worth his $378 million in 2011, 29% said such high pay was unwarranted, noting that he still needs to prove himself in the Apple hot seat after the death of visionary Steve Jobs. A total of 30% said he may justify his compensation, depending on how he performs during the coming months.

Tim Cook, Apple's CEO

Apple revealed Cook's total 2011 compensation package in a proxy statement filed with the Securities and Exchange Commission on Monday, the same day Apple's stock hit an all-time high.

Cook, Apple's former COO, was promoted to the tech giant's hot seat when Jobs stepped down in August. A logistics guru who was deputized during Jobs' three medical leaves of absence, Cook was an obvious choice to succeed his boss, although he has an unenviable job stepping into the shoes of the man who reinvented the way we listen to music, talk on the phone and browse the Web.

The new CEO is expected to launch a host of new products in 2012, including the iPhone 5, iPad 3 and the eagerly anticipated Apple TV, although investors are keen to see whether he will carve off some of Apple's vast cash haul for a dividend.

Apple shares were down 49 cents to $420.9 in pre-market trading on Friday.

Check out TheStreet's new Tech Trends blog for more news on Apple.

-- Written by James Rogers in New York

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