The money laundering scandal that engulfed Westpac Bank over the last weeks of 2019 has once again highlighted why so many people believe senior executive pay is divorced from reality.
However, it's safe to say that someone in the lower echelons of the bank who was sacked for poor performance wouldn't get a year's pay.Harvey Norman founder Gerry Harvey once quipped to this writer,"if a CEO can create billions of dollars of shareholder value, I'd happily pay him $100 million."At Macquarie Group the share price has risen more than five-fold in the past seven years.
And like any other seller of a service, senior executives are looking for the highest price they can get. As one explained, before approaching a potential hire, they already know what he or she is earning, which gives them a fair idea of how much it would cost to lure them away from their current employer.
In 2004, NAB gave Ahmed Fahour a $13 million sign on fee when he was poached from Citigroup to be head of its Australian operations.
Bloody oath they r. There GREED IS INTERRUPTING THE ECONOMIC GROWTH. FFS DO SOMETHING ABOUT IT. FKING GREEDY COMPANY'S.
Anything to do with those corporate tax cuts maybe?
What about the obscene salaries the abc are dishing out?
Absolutely their salaries and perks are obscene.
A long way the other side of too much.
Companies should be restricted to paying CEOs a fixed multiple of the salary of the lowest paid workers in their company. Is 200 too obscene a multiple (the lowest paid in their company would be on $100K)?
Before or after tax?
while getting the taxpayer to cover the cost of living of the lower wage earners and the 'democratic' political leaders letting them for donations and job opportunities
Hasn't anyone told yet that there is a rhetorical question mark that they can use on their headlines?
The list of CEO attributes missed the main differentiator at the top, particularly in finance. Willingness to put money above ethics and humanity. It is the ease with which they will do dirty deeds that got them to the top.
Just plain GREED
nah people at the top should get 10000x the worker wage, thy worker should also have crippling debt for their homes from the very bank they work for and to reamain wage slaves till death do us part 🤦♂️
Yes