INTOUCH : No fat cats in public sector?

The financial rewards of running large private sector organisation are still way ahead of those for similar roles in the public sector.
That’s according to Strategic Pay survey which contains data on more than 2000 executives and shows that those heading New Zealand’s biggest companies can expect an average pay packet of $1 million plus incentives compared to an average of $404,000 for the heads of our largest public sector organisations. However the difference dwindles as organisation size decreases with CEOs in the sub-$15 million public sector organisations earning virtually the same $166,000 fixed pay as private sector counterparts.
That differential holds true for other executives with overall private sector outpaying overall public sector for every job, bar top IT executives who can earn slightly more in the public sector. In the financial area, private sector work (averaging $196,400) is quite lot better paid than public ($149,800).
Other key findings from the survey included the low level of variable pay received relative to target, indicating incentives are well below those expected in better year. It also indicates which skills are best to have. It seems median total earnings of $300,000 for senior engineering executives in our larger companies outstrips those of their peers in other functions possibly reflecting the number of large infrastructure projects currently being undertaken in New Zealand.
More at www.strategicpay.co.nz

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