Lets take this discussion to another level. In 2018 bank CEO's earned (approximately) a mixture of salary/bonuses/shares/etc etc etc etc ....even after some took a "pay-cut" CBA.... $8.4 million Westpac...$5.0 million NAB....$4.4 million ANZ....$5.3 million AMP....$8.3 million, but could reach $17.7 million (what the hell) ?? Macquarie....$24 million Challenger....$12 million (please bear with me)
Lets now compare these earnings vs the ongoing salaries of just one regular public secondary high school in the country. On average a secondary public school would have (say) 600-700 students (school fees are not mandatory) and about 55 teachers if not more (includes a Principal and another 54 classroom teachers with a salary on average of $100k each).
Therefore, each year the cost of running a school of this size is about $5.5 million plus resources. Are we seriously saying that the income earned by just 1 bank CEO (regardless of how good/bad they are) is equivalent to one-and-a-half times the total pay of all these teachers educating all these students?? Surely we cannot be serious. In the case of Macquarie, this is equivalent to four-and-a-half schools of this size, with Challenger it is two-and-a-bit
Other CEOs like those in mining, travel, etc produce similar numbers.
Banks are 'taking us for a ride' , but they are not alone.
