How Ahmed Fahour’s $5.6 million salary compares to other Australian CEOs, bosses and politicians
FOR the price of Ahmed Fahour, we could buy 28 Pauline Hansons or less than half of Alan Joyce. This is how his $5.6m salary compares to other Aussie CEOs and politicians.
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FOR the price of Australia Post’s outgoing CEO, we could buy 28 Pauline Hansons or just less than half of Alan Joyce.
The $5.6 million cash salary of Ahmed Fahour sparked enough outrage to force his resignation, but how does the pay compare?
We took a look at some of Australia’s most successful, high profile CEOs and politicians to see how Fahour’s salary stacks up.
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Westfield joint chief executives Peter and Steven Lowy: $24.7 million
The Australian Council of Superannuation Investors (ACSI) CEO Pay in ASX 200 Companies report revealed the Lowys topped the list of its highest paid bosses last year combined. As leaders of one of the world’s biggest retail development companies, they have hundreds of shopping centres across Australia, the UK, US and New Zealand.
Macquarie Group chief executive Nicholas Moore: $16.3 million
The ACSI CEO Pay in ASX 200 Companies report in August last year revealed Mr Moore was the highest-paid individual CEO on a reported basis. Mr Moore received a package worth $26 million in his first year at the helm of Macquarie, in 2008, when the group chalked up its then record profit of $1.8 billion.
Other CEOs who came in the top 10 of the ACSI CEO Pay in ASX 200 Companies report last year were Seek Limited’s Andrew Bassat ($19.3 million), Scentre Group’s Peter Allen ($17.8 million), James Hardie Industrie boss Louis Gries ($15.4 million), Ramsay Heath Care’s CEO Chris Rex ($15.4 million), Domino’s Pizza CEO Don Meij ($13.7 million), Caltex Australia’s Julian Segal ($13.4 million), Aristocrat Leisure CEO Jamie Odell ($12.6 million) and Brian Benari from Challenger who received $12.34 million.
Qantas chief executive Alan Joyce: $12.9 million
For the year to June 30 last year, Alan Joyce received $13 million in pay, incentives and entitlements, including his largest ever short-term cash bonus of $3.3 million.
Joyce’s salary was the talk of Qantas’ AGM in October last year, where shareholder Jack Tilburn took aim at the CEO’s salary, which he pointed out amounted to $250,000 a week.
“No CEO is worth this quite large and extensive and over-generous $250,00 per week,” Mr Tilburn said. “I don’t accept it.”
All of Qantas’ management team received pay rises in 2015-16, with Jetstar chief executive Jayne Hrdlicka earning $4.3 million, up from $3.9 million, and Qantas International boss Gareth Evans $4.4 million, also up from $3.9 million.
Commonwealth Bank chief executive Ian Narev: $12.3 million
The Commonwealth Bank boss received a 50 per cent pay rise to make him the nation’s highest-paid CEO of the big four banks, taking home $12.3 million, according to reports in August last year.
CBA’s annual report showed the total remuneration for Mr Narev lifted by more than 50 per cent, from $8 million a year earlier.
AFL chief executive Gillon McLachlan: $1.74 million
AFL boss Gillon McLachlan had to settle for a $20,000 pay rise last year but still took home a hefty $1.74 million.
McLachlan’s salary is still twice the size of superstars such as Patrick Dangerfield, Alex Rance and Joel Selwood. His salary is almost six times that of the average AFL player wage, The Herald Sun reports.
McLachlan was paid $1.7 million in his first full year in charge, the league’s financial accounts reveal, according to The Herald Sun.
McLachlan’s 2015 salary is a far cry from the $3.8 million in salary and bonuses paid to former chief executive Andrew Demetriou in 2013, his final full year at the helm.
Blackmores chief executive Christine Holgate: $2.84 million
Based on the Blackmores CEO’s salary and shares from the company’s 2016 annual report, she received a total of $2.84 million. It was a considerable increase from 2015 where she earned a total of $1.5 million in salary and shares. Blackmores was buoyed by increased sales to China last year, which led to them being able to deliver staff a bonus month of pay.
ABC Managing Director, Michelle Guthrie: $900,000
When Michelle Guthrie took over as the Managing Director of the Australian Broadcasting Corporation, she received an increased salary package after the ABC Board applied successfully to the Remuneration Tribunal. She was to receive a salary package of $900,000, up from the $833,000 Mr Scott earned in 2014.
Australian Bureau of Statistics head David Kalisch: $705,030
The head of the ABS, David Kalisch, whose official title is Australian Statistician, earns a base annual salary of $493,530 and a total salary of $705,030, which is determined by the Remuneration Tribunal.
Prime Minister Malcolm Turnbull: $507,338
The Australian Prime Minister, dubbed “Mr Harbourside Mansion” by Labor, lives in a luxurious home worth around $50 million in Sydney’s Point Piper. But he earns just over half a million dollars for running the country. Surprisingly, his chief of staff Drew Clarke earns almost $200,000 more than the PM. In November last year, Mr Turnbull defended his decision to pay Mr Clarke’s salary of $691,200, saying it matches the pay in his previous role as secretary of the Department of Communications.
Deputy Prime Minister Barnaby Joyce: $400,016
While Mr Joyce gets less than the Prime Minister, the government’s Ministers each receive $307,329 and Cabinet Ministers get $336,599. Treasurer Scott Morrison gets a total of $365,868.
Opposition Leader Bill Shorten: $360,990
While Mr Shorten is on just over $300,000, his Deputy Opposition Leader, Tanya Plibersek, gets $307,329, while a Shadow minister receives $243,912.
Senator Pauline Hanson: $199,040
From January 1 last year, each Senator and Member of the House of Representatives was paid a base salary of $199,040 per annum. This figure was determined by the Remuneration Tribunal.
This means One Nation leader Pauline Hanson gets close to $200,000. For Ahmed Fahour’s $5.6 million salary, we could hire 28 Senator Hansons.
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