The average salary for CEOs in the Big Four Aussie banks is $8,193,636. That’s about 200 times the annual wage of a customer service representative, according to figures from the Australian Finance Sector Union.
Is this grossly unfair? Tell us your solution to the “problem” of executive pay in the banking sector. What would be your submission to the Productivity Commission?
Should executive salaries be capped? How would you tackle the thorny issue of taxing employee share schemes?
And should we really be bemoaning the bosses of Aussie banks, given that their firms are fighting the financial crisis with their reputations firmly intact? After all, CBA isn’t Citigroup and ANZ isn’t AIG.
Is pay reform necessary or not? Let us know below.