thanks for the article. But this is published by a money making magazine and editor is well known on his views.
https://www.news.com.au/finance/work/leaders/how-much-australias-banking-and-finance-ceos-earn/news-story/3b4c9c9959955fb1637d5deec8172e21Lets 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.
