By Rolfe Winkler 

It's good to be Google Inc.'s chief financial officer.

Ruth Porat, who said Tuesday that she would leave her job as Morgan Stanley's finance chief to take the same role at Google, was awarded more than $70 million worth of restricted stock and bonuses to make the switch.

During her first seven months on the job, Ms. Porat stands to receive around $30 million in cash and stock. That would make her one of the highest-paid CFOs in the U.S. In 2013, the last year for which data are available, only Oracle Corp.'s then-CFO Safra Catz received more compensation, at $43.6 million.

She will also make more than most Wall Street CEOs, including her old boss, Morgan Stanley Chief Executive James Gorman, who was paid $18 million in 2013. Morgan Stanley hasn't reported Mr. Gorman's 2014 compensation yet; The Wall Street Journal reported in January his 2014 pay package increased from the prior year.

Among big banks that have reported CEO compensation for 2014, Citigroup Inc. said Michael Corbat made $14.5 million and Bank of America Corp. said Brian Moynihan made $15.3 million.

A California native, Ms. Porat is getting a substantial raise to come home. In 2013, she earned $10.1 million at Morgan Stanley. Ms. Porat begins her new job May 26.

Her total pay package includes a base salary of $650,000 as well as a $5 million one-time signing bonus, and $65 million of stock grants. The stock grants are broken into two buckets: a $25 million new-hire grant that will vest over the next three years as well as a $40 million grant next year that will vest through 2019.

Google's outgoing finance chief, Patrick Pichette, received compensation of $5.2 million in 2013 and $38.7 million in 2012, including stock awards. Google grants large stock awards to top executives every other year. Google hasn't yet filed its proxy for 2014.

Google investors reacted positively to the announcement of Ms. Porat's hiring, driving up the company's shares 2% on Tuesday. They are hoping for a more disciplined approach to expenses at a company that is investing in everything from residential Internet connections to self-driving cars. Investors are also hopeful that Google will decide to return some of its $64 billion cash pile in the form of dividends or stock buybacks.

In a securities filing, Google also said it changed Mr. Pichette's compensation agreements so that some equity awards vest more quickly.

Some of the outgoing CFO's equity grants were due to vest in April 2016 and April 2018, when he is likely to have left Google. The company changed this so he will be able to sell a portion of the stock sooner.

One restricted stock award was granted on April 4, 2012, and was due to vest on April 25, 2016. That was worth $33.9 million at the end of 2013, according to Google's 2013 proxy statement. If Mr. Pichette leaves Google this April, he would get roughly three-quarters of this award, worth just over $25 million based on Google's share price on Thursday.

Google said it made the changes to ensure Mr. Pichette "continues performing in the role until such time as Google determines that there has been a smooth transition to the new CFO."

Alistair Barr contributed to this article.

Write to Rolfe Winkler at rolfe.winkler@wsj.com

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