How much is your boss earning?
Posted: Saturday, September 21, 2013 by Tyler Durden in Labels: career , money
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EVER wondered how much cash your boss is taking home each week? If you work for some of Australia's top listed companies, it could run into the hundreds of thousands of dollars.
Figures from The Australian Council of Super Investors released today show the salary details of Australia's most high profile bosses.
They only take into account CEOs that have served a full financial year - the reason why Commonwealth Bank chief Ian Narev doesn't feature - as well as companies domiciled in Australia.
Results also include both statutory pay, which is the amount officially reported, and realised pay, which takes into account the value of any equity vested during that financial year.
Here are the highest paid CEOs among S&P/ASX 200 companies
• Peter Lowy/Steven Lowy, Westfield $21,080,055 (statutory) $19,338,1231 (realised)
• Mike Smith, ANZ $9,674,493 (statutory) $19,173,603 (realised)
• Gail Kelly, Westpac $9,591,984 (statutory) $11,677,193 (realised)
• Marius Kloppers, BHP Billiton $9,519,835 (statutory) $12,733,430 (realised)
• Louis Gries, James Hardie Industries $9,039,155 (statutory) $9,231,306 (realised)
• Tom Albanese, Rio Tinto $8,790,712 (statutory) $4,003,151 (realised)
• Cameron Clyne NAB $8,779,731 (statutory) $7,868,548 (realised)
• Grant King, Origin $8,347,992 (statutory) $6,862,390 (realised)
• Patrick Snowball, Suncorp $8,265,000 (statutory) $4,046,000 (realised)
• Richard Goyder, Wesfarmers $8,010,045 (statutory) $7,361,480 (realised)
The top spot was jointly held by Peter and Steven Lowy, who serve as CEOs of the property empire after the retirement of their father, Frank. Combined, their income was $21.08 million, meaning that even individually the pair pull in more than $100,000 a week.
Other high profile CEOs include
• Gerald Harvey, Harvey Norman $1,035,000 (statutory) $1,035,000 (realised)
• Paul Zahra, David Jones $1,659,058 (statutory) $2,404,272 (realised)
• John Borghetti, Virgin Australia $4,072,000 (statutory) $2,501,000 (realised)
Overall, the average CEO fixed pay among the companies surveyed fell 2.4 per cent to $1.9 million. However the average bonus is up 4.8 per cent to $1.315 million in the 2012 financial year.
Big bonuses are still a reality for 82 per cent of bosses, particularly in the finance sector. However the proportion of people who did not receive them is at the highest level since 2003.
There are seven cases where CEOs missed out on their bonus for not making performance targets, including Myer, David Jones, Paladin Energy, Echo Entertainment Group, Incitec Pivot, Bendigo and Adelaide Bank and Regis Resources.
These CEOs got the biggest bonuses in 2012
• Gail Kelly, Westpac $2,268,000
• Nick Moore, Macquarie Group $2,046,811
• Mike Smith, ANZ $1,900,000
• Mike Wilkins, IAG $1,567,000
• Patrick Snowball, Suncorp $1,475,000
• Craig Dunn, AMP $1,407,000
• Cameron Clyne, NAB $1,215,000
What do you think about the amount CEOs get paid? Continue the conversation on Twitter @newscomauHQ | @Victoria - Craw.
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