Tuesday, February 12, 2013

How much is enough?

A question was asked on the news this morning on the theme of executive pay. A certain large bank was reporting numbers, and the speculation concerned the pay of the CEO. One of the presenters suggested they ought to ask the public what they though was an acceptable salary for the post.

Well, a not too thorough search of the internet showed that in 2011 the CE of a certain bank earned £20.9 million in salary and bonuses. Apparently the starting salary at Barclays, according to UNITE is £13,500. That means that in 2011 the CE was paid 1,500 times the potential amount of the lowest paid worker.

Perhaps the question isn't about what is an appropriate salary but what is an appropriate gap. 1,500 does not seem to be the right answer as far as I am concerned.

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