Recently, average CEO pay packets in the top 100 Australian companies surpassed $5 million, according to research from The Australia Institute:
Now, the latest CEO pay report from the Australian Council of Superannuation Investors (ACSI) shows that Australia’s top earning CEOs were paid 280-times the average Australian full-time salary of $85,000, which ACSI describes as “a culture of entitlement”:
ACSI CEO Louise Davidson said the survey showed there was a culture of “entitlement” in corporate Australia that resulted in bonuses supposedly paid for outperformance being delivered as a matter of course. “Supposedly ‘at risk’ pay is not very risky at all,” she said.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
