ISS head of research Vas Kolesnikoff said it was not clear why senior staff at the nation's biggest bank should be rewarded with its share price significantly lower than where it was last year and many staff facing a pay freeze.
"In CBA's case, the stock price has gone down 30 to 40 per cent, results are down 11 per cent for the year and the bonuses are getting bigger," he said. "Since when do you get a bonus for fixing a failure?"
ISS has advised shareholders to vote against the company's remuneration report, but other groups including CGI Glass Lewis and the Australian Council of Superannuation Investors have endorsed it.
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