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 CEO pay packets reaching pre-GFC levels of $5m
Bear
 Posted: Mar 16 2018, 08:16 AM
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CEO pay packets reaching pre-GFC levels of $5m.


The average top chief executive in Australia is earning $5.2 million, a figure not seen since before the global financial crisis. It comes as wage growth remains stagnant for most workers.

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Wayne Swan said the report showed 'gross distortions in CEO pay relative to average worker earnings'. Photo ABC News: Matt Roberts.

A new report that analyses data from Australia's top 100 companies shows that the average chief executive pay dropped from $5.5 million before the GFC to $4.7 million in 2011. But it has steadily crept back to $5.2 million.

Australia's highest reported CEO salary peaked at $33.5 million before the GFC, fell to $11.8 million in 2011 and bounced back to $21.6 million in 2017.


The CEOs of NAB and CBA started out at 58 and 70 times average weekly earnings in 2000 and are now (2017) respectively 108 and 93 times average weekly earnings.

https://www.smh.com.au/business/careers/ceo-pay-packets-reaching-pre-gfc-levels-of-5m-20180314-p4z4b5.html

The greed of a few is dragging our economy backwards.


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Flin
 Posted: Mar 16 2018, 08:39 AM
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Was this made a story because the SMH wanted to post a photo of the World's greatest treasurer? http://fairdinkumnewschat.b1.jcink.com/uploads/fairdinkumnewschat/smiley_don_t_know.gif

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scepo
 Posted: Mar 16 2018, 04:50 PM
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Sure looks like it Flin. http://fairdinkumnewschat.b1.jcink.com/uploads/fairdinkumnewschat/smiley_don_t_know.gif

The poor old goose hadn't made the news lately. For quite a while actually. http://fairdinkumnewschat.com/blink.gif

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Jonno
 Posted: Mar 16 2018, 06:26 PM
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There was a time when local council councillors were small business owners or owner/managers of larger manufacturing local businesses and the elected mayor was the council head man.
Now that The Canberra Palace occupants have illegally created private corporations of Federa government (Commonwealth Of Australia)l, State governments and Local Councils the councillors have a full-time, salaried position with a mayor as a manager on an un-deserved high salary, add to this a CEO with a salary over $500,00.00 in his position with the Gold Coast City Council and are among the most corrupt, incompetent people in Australia.
To make matters worse Beattie and The Local Council are completely failing in the attempt to host a Commonwealth Games multi-ringed, world class circus in a kindergarten sand-pit, and is costing a gross loss of time, money, freedom, causing total disruption to the whole area.....and stated by the visiting assistant head of the Commonwealth Games Organisation that the organisers are un-organised and incompetent.

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