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CEO Paid 275 Times The Full-Time Average Wage (Read 909 times)
whiteknight
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CEO Paid 275 Times The Full-Time Average Wage
Sep 17th, 2019 at 12:48pm
 
CEO bonuses soar as Qantas boss Alan Joyce tops list of highest-paid executives

ABC News
September 17 2019


Qantas chief executive Alan Joyce has topped the list of Australia's highest-paid chief executives for 2018, taking home $23.9 million — which is more than 275 times the full-time average wage.   Sad
Key points:   

    A report by the Australian Council of Superannuation Investors (ACSI) has found most of the nation's top 100 CEOs got a big bonus in the 2018 financial year
    Pressure is growing on companies to be more transparent with shareholders about CEO pay
    The ACSI is calling for Australia to look to a UK model where CEO pay is to be measured against that of their company's average worker

The 2018 financial year was another bumper year for CEO bonuses, according to a report by the Australian Council of Superannuation Investors (ACSI).

Of the nation's 100 largest companies, only one CEO eligible for a bonus was not awarded one: Domino's boss Don Meij.

In the 2017 financial year Mr Meij had topped the ACSI's list with realised pay of $36.8 million, mostly gained via an exercise of options.   Sad

But this did not recur in FY18 with Mr Meij's realised pay (which includes cash and the actual value of equity that vested during the year) falling to $7.06 million, largely due to the company's share price declining.

Across the top companies, average realised pay dropped to $5.66 million from $6.23 million, following the departure of several highly paid CEOs.

It was also due to the fact that only two CEOs realised more than $20 million in FY18: Mr Joyce and Macquarie's Nicholas Moore (who has since been replaced by Shemara Wikramanayake as chief executive).

Mr Joyce reaped the rewards of a large long-term incentive allocation granted in 2014 when the share price was $1.26, which vested in full during FY2018, when the Qantas share price was $5.66. His pay has since halved.

Here are the top CEOs based on realised pay in the 2018 financial year:   Sad

    Alan Joyce, Qantas Airways ($23,876,351)
    Nicholas Moore, Macquarie Group ($23,855,580)
    Michael Clarke, Treasury Wine Estates ($19,024,334)
    Bob Vassie, St Barbara ($13,246,088)
    Craig Scroggie, NextDC ($12,515,914)
    Sandeep Biswas, Newcrest Mining ($12,083,392)
    Brian Benari, Challenger Group ($11,696,001)
    Raleigh Finlayson, Saracen Mineral Holdings ($11,284,256)
    Andrew Bassat, Seek ($10,744,472)
    Colin Goldschmidt, Sonic Healthcare ($10,017,376)

Median bonus for the ASX100 CEO hits $1.61 million

ACSI chief executive Louise Davidson wants to see more transparency on pay, noting the banking royal commission had resulted in a decline in the public's trust of major companies and their management.

Rich get richer
Australia's rich keep getting richer, with the top 1 per cent of Australians owning more wealth than the bottom 70 per cent combined.   Sad

Ms Davidson is calling for Australia to look to a UK model where CEO pay is to be measured against that of their company's average worker.

The ACSI also wants to see board directors be elected annually, rather than every three years as is the case presently.

    "The way bonuses are being handed out suggests there is a culture of entitlement whereby supposedly 'at risk' pay is not very risky at all," Ms Davidson said.

The ACSI's report found more than half of ASX100 CEOs received at least 70 per cent of their maximum entitlement — a figure almost unchanged in four years.

The median bonus awarded to an ASX100 CEO in FY18 was $1.61 million — the second highest in the history of the survey, which is in its 18th year.

There were five ASX100 CEOs in FY18 who received 100 per cent of their maximum bonus.

This included Treasury Wine Estate's Michael Clarke, who in his four full years as CEO has received maximum bonus every year.

The others were Crown's John Alexander, TPG Telecom's David Teoh and Adelaide Brighton's Martin Brydon.
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aquascoot
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #1 - Sep 17th, 2019 at 1:06pm
 
Roger federer paid 275 times average tennis player.
Taylor Swift sells 275 times more records then average singer.
Toyota sell 275 times as many cars as average manufacturer.
Tokyo has 275 times the population of average Japanese town
Winx wins 275 times as much as average horse.
Blue whale is 275 times the weight of average mammal.


It's called the Pareto principle and there's nothing sinister about it.
It's just how the world is.
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Jasin
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #2 - Sep 17th, 2019 at 1:08pm
 
aquascoot wrote on Sep 17th, 2019 at 1:06pm:
Roger federer paid 275 times average tennis player.
Taylor Swift sells 275 times more records then average singer.
Toyota sell 275 times as many cars as average manufacturer.
Tokyo has 275 times the population of average Japanese town
Winx wins 275 times as much as average horse.
Blue whale is 275 times the weight of average mammal.


It's called the Pareto principle and there's nothing sinister about it.
It's just how the world is.


Cool
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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.
 
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minarchist
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #3 - Sep 17th, 2019 at 9:42pm
 
If a cleaner stuffs up his job, a floor or a bench feels stickier than usual. If a CEO stuffs up his job, it could potentially cost the company tens of millions of dollars and dozens of jobs. That's why a CEO gets paid more - their decisions have a greater effect on the company. They get paid much more with the expectation that they make decisions that could be highly beneficial for the company.
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People accuse Capitalism of being a "dog eat dog" system, yet it was the Communists who ate each other when they were starving!
 
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Captain Nemo
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #4 - Sep 17th, 2019 at 10:39pm
 
CEOs are obscenely overpaid.

They don't actually run the companies. The next level down or even 2 levels down actually run companies.

CEOs are overpaid speech deliverers with free meals, accommodation, travel and expense accounts.





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The 2025 election could be a shocker.
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #5 - Sep 17th, 2019 at 10:52pm
 
minarchist wrote on Sep 17th, 2019 at 9:42pm:
If a cleaner stuffs up his job, a floor or a bench feels stickier than usual. If a CEO stuffs up his job, it could potentially cost the company tens of millions of dollars and dozens of jobs. That's why a CEO gets paid more - their decisions have a greater effect on the company. They get paid much more with the expectation that they make decisions that could be highly beneficial for the company.


when CEOs fail, they are not held accountable for it.

They should be.
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Modern Classic Right Wing
 
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Grappler Truth Teller Feller
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #6 - Sep 17th, 2019 at 11:25pm
 
Ridiculous amount to pay some clown to hold a few meetings and not even actually work to implement decisions or even gather the information needed to make a decision.

Other people do all that at far lesser remuneration... yet some dick you wouldn't throw a burning stick at in a snowstorm walks off with all the kudos and all the money.

Amazing... simply amazing.
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Grappler Truth Teller Feller
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #7 - Sep 17th, 2019 at 11:29pm
 
aquascoot wrote on Sep 17th, 2019 at 1:06pm:
Roger federer paid 275 times average tennis player.
Taylor Swift sells 275 times more records then average singer.
Toyota sell 275 times as many cars as average manufacturer.
Tokyo has 275 times the population of average Japanese town
Winx wins 275 times as much as average horse.
Blue whale is 275 times the weight of average mammal.


It's called the Pareto principle and there's nothing sinister about it.
It's just how the world is.


And clearly why the world is so dysfunctional and incites the many to demand change... not a good way to run an orderly herd, eh? talent, ability and hard work have nothing to do with it - what is their secret?  Can't be ability - look at the economic disaster the world is....

BTW - tennis players and singers etc actually produce something - CEOs do not... all they do is put a staple on the paperwork already done by others and go to the teacher and say how good they are...

No company yet has ever been built that could not do without them... but what is their secret? 

Do they give great head or something?   Roll Eyes
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Sir lastnail
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #8 - Sep 18th, 2019 at 11:07am
 
minarchist wrote on Sep 17th, 2019 at 9:42pm:
If a cleaner stuffs up his job, a floor or a bench feels stickier than usual. If a CEO stuffs up his job, it could potentially cost the company tens of millions of dollars and dozens of jobs. That's why a CEO gets paid more - their decisions have a greater effect on the company. They get paid much more with the expectation that they make decisions that could be highly beneficial for the company.


and if they get the boot for doing a bad job they still get a golden handshake. That makes perfect sense too Cheesy LOL
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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.
 
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aquascoot
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #9 - Sep 18th, 2019 at 11:12am
 
Harsh grappler very harsh

Absolutely everything about the world is based on hierarchies
Ants chickens even trees in the forest are all subject to hierarchies

Singers authors sports people get to the top of the hierarchy by being more competent
Take a bunch of plumbers
Some plumbers will just be better at making pipes that don't leak
They are more competent
Word gets out
They become more popular
They make more cash
As far as planet earth is concerned
Hierarchies are essential and hierarchies are about competence

You do not seem to realise the miracle of the current world you inhabit

Law and order
You probably won't get speared by another tribe
Lions and Tigers are unlikely to eat you
It's highly likely that you will have a meal tonight
It's unlikely that you will be shivering and cold
You probably have fresh drinkable running water
if you get sick you probably have access to healthcare
You probably can go to the dentist and you can probably have a needle so you don't feel pain

These things are god damn miracles
Until century or two ago you would have had none of this

It has all been brought to you by the marvellous market capitalist system which has the most competent people at the top contributing their skills

you constantly seem to call for a revolution all the storming of the Bastille

I really think you need to reflect and develop some gratitude for what the modern Western capitalist market society has done for you

And it's all based on hierarchies
It's all based on rewarding the most competent people with the most cash
And there is a message for all
Find something you are competent at
Pursue it with all your vigor
Compare yourself with who you were yesterday and try to improve .000 1% each day
And don't give a fig about what some CEO at Qantas earns
It's none of your goddamn business
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Grappler Truth Teller Feller
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #10 - Sep 18th, 2019 at 12:46pm
 
Even so - how does anyone justify paying some jerk millions to hold a few meetings and put on the paper clips?

If they were so good the nation and businesses would be running like Swiss watches - instead they go to the wall daily...

In Joyce's case - how justify re-tooling with new aircraft of greater effiency etc - a natural progression for any business - as reason sufficient to hand him millions?

Bizarre - copping millions for doing what is a normal thing in a business... re-tooling as equipment ages....  Roll Eyes  Roll Eyes  Roll Eyes .. and as for re-structuring the workforce - a baggage handler on as much as a pension will not be flying QANTAS anytime soon.... more likely Pinchgut Airlines... and offshoring maintenance is a dangerous situation.......
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #11 - Sep 18th, 2019 at 6:08pm
 
minarchist wrote on Sep 17th, 2019 at 9:42pm:
If a cleaner stuffs up his job, a floor or a bench feels stickier than usual. If a CEO stuffs up his job, it could potentially cost the company tens of millions of dollars and dozens of jobs. That's why a CEO gets paid more - their decisions have a greater effect on the company. They get paid much more with the expectation that they make decisions that could be highly beneficial for the company.

Cool
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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.
 
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #12 - Sep 18th, 2019 at 6:15pm
 
aquascoot wrote on Sep 18th, 2019 at 11:12am:
Harsh grappler very harsh

Absolutely everything about the world is based on hierarchies
Ants chickens even trees in the forest are all subject to hierarchies

Singers authors sports people get to the top of the hierarchy by being more competent
Take a bunch of plumbers
Some plumbers will just be better at making pipes that don't leak
They are more competent
Word gets out
They become more popular
They make more cash
As far as planet earth is concerned
Hierarchies are essential and hierarchies are about competence

You do not seem to realise the miracle of the current world you inhabit

Law and order
You probably won't get speared by another tribe
Lions and Tigers are unlikely to eat you
It's highly likely that you will have a meal tonight
It's unlikely that you will be shivering and cold
You probably have fresh drinkable running water
if you get sick you probably have access to healthcare
You probably can go to the dentist and you can probably have a needle so you don't feel pain

These things are god damn miracles
Until century or two ago you would have had none of this

It has all been brought to you by the marvellous market capitalist system which has the most competent people at the top contributing their skills

you constantly seem to call for a revolution all the storming of the Bastille

I really think you need to reflect and develop some gratitude for what the modern Western capitalist market society has done for you

And it's all based on hierarchies
It's all based on rewarding the most competent people with the most cash
And there is a message for all
Find something you are competent at
Pursue it with all your vigor
Compare yourself with who you were yesterday and try to improve .000 1% each day
And don't give a fig about what some CEO at Qantas earns
It's none of your goddamn business

Cool

Cool... but.

Capitalism/Heirachy/etc is slightly flawed.
It is just a Robin Hood: Rob from the Rich, Give to the Poor.

But 'real' Societies are not like that.
Rob from the Evil Rich and give to the Good Poor.
Protect the Good Rich against the Evil Poor.
Is something that operates more successfully than such.

So a Hierachy can be a 'negative' reaction (The Spanish Inquisition of Homos in Power).

Ahh, its a fine line describing a Hierachy of Power in an 'Egalitarian' nation too.  Wink
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AIMLESS EXTENTION OF KNOWLEDGE HOWEVER, WHICH IS WHAT I THINK YOU REALLY MEAN BY THE TERM 'CURIOSITY', IS MERELY INEFFICIENCY. I AM DESIGNED TO AVOID INEFFICIENCY.
 
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Gnads
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #13 - Sep 18th, 2019 at 8:04pm
 
aquascoot wrote on Sep 17th, 2019 at 1:06pm:
Roger federer paid 275 times average tennis player.
Taylor Swift sells 275 times more records then average singer.
Toyota sell 275 times as many cars as average manufacturer.
Tokyo has 275 times the population of average Japanese town
Winx wins 275 times as much as average horse.
Blue whale is 275 times the weight of average mammal.


It's called the Pareto principle and there's nothing sinister about it.
It's just how the world is.


Rubbish.
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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais
 
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #14 - Sep 18th, 2019 at 8:06pm
 
Captain Nemo wrote on Sep 17th, 2019 at 10:39pm:
CEOs are obscenely overpaid.

They don't actually run the companies. The next level down or even 2 levels down actually run companies.

CEOs are overpaid speech deliverers with free meals, accommodation, travel and expense accounts.


Correct
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"When you are dead, you do not know you are dead. It's only painful and difficult for others. The same applies when you are stupid." ~ Ricky Gervais
 
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #15 - Sep 18th, 2019 at 8:39pm
 
Jasin wrote on Sep 18th, 2019 at 6:15pm:
Cool... but.

Capitalism/Heirachy/etc is slightly flawed.
It is just a Robin Hood: Rob from the Rich, Give to the Poor.

But 'real' Societies are not like that.
Rob from the Evil Rich and give to the Good Poor.
Protect the Good Rich against the Evil Poor.
Is something that operates more successfully than such.

So a Hierachy can be a 'negative' reaction (The Spanish Inquisition of Homos in Power).

Ahh, its a fine line describing a Hierachy of Power in an 'Egalitarian' nation too.  Wink


Quote:
It is just a Robin Hood: Rob from the Rich, Give to the Poor.



Look at the topic and the story ?

It is the exact opposite, we rob from the poor to give to the rich. It is reverse Robin Hood we see in action.

This is the Liberals prefered as well, this is what tax cuts for the wealthy amount to also.
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Bobby.
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #16 - Sep 18th, 2019 at 10:04pm
 
Gnads wrote on Sep 18th, 2019 at 8:06pm:
Captain Nemo wrote on Sep 17th, 2019 at 10:39pm:
CEOs are obscenely overpaid.

They don't actually run the companies. The next level down or even 2 levels down actually run companies.

CEOs are overpaid speech deliverers with free meals, accommodation, travel and expense accounts.


Correct



The workers can always eat cake.

...
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Re: CEO Paid 275 Times The Full-Time Average Wage
Reply #17 - Sep 19th, 2019 at 1:46am
 
"(The Spanish Inquisition of Homos in Power)."

By George - you're getting it right!  Been that way since the advent of the social scientist type of politician... even John Setka is saying what I've said times many - the current Labor party is not worth supporting by the ordinary worker, and in reality the only hope lies with the proles ... good old Joe and Jo Redundant... if they ever wake up .....

We've had the Spanish Inquisition rampant since the advent of affirmative action, and all the other legislations and policies to 'protect' women and other  Grin "minorities" from the realities of having to work .....

(Been waiting for this one)....

In Shakespeare's "The Tempest" (as modern portrayed  in "Forbidden Planet") - the highly advanced race (the Krell) are destroyed by Monsters From The Id (their own Ids or unconscious personae).. through a machine designed by 'science'....

What we have here (is a failure to communicate) ... what we have here is fresh Monsters From the Id - social science and its 'advances' are based on pseudo-science and are based on anecdotal evidence and 'feeling' .. ergo they are true Monsters From the Id and are not true creations of science but are instead a machine devised to perpetuate the desires of the Id, and like the mindless and invisible monster in Forbidden Planet, feed off the unconscious (and remorseless) desire for revenge, domination, hatred, and killing - and thus are destructive without genuine thought or consideration or even humanity.

Only at the very end does Morbius realise, with the pending destruction of all that he holds dear - that this very Monster is from his own Id... the social science Monster created .... is devouring and destroying all without reason or thought or humanity... it simply does not know the difference between 'good' and 'bad' - it only knows that it must act on feeling........

Truly Shakespeare was a prescient man.... and social science is the translation of humanity into a Nazi style Ubermensch 'reasoning', making it easy to obliterate 'Untermenschen' without remorse, thought or humanity** ....



**that is why, from Day One, I have opposed discussion of men and women as 'male' and 'female', and why I continue to my last breath to oppose 'social science' - people and other sentient beings are not specimens to be used and pushed around the board at whim or at will.... hence my opposition to such things as 'domestic violence laws' and other social science nonsense..... (you'll all get there one day)...

.. and you can hardly understand what power is destroying you .....
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« Last Edit: Sep 19th, 2019 at 2:05am by Grappler Truth Teller Feller »  

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams
 
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