UPFRONT Million dollar pay packets

The chief executives of Australia’s biggest listed companies received an average 16 percent pay boost in the past year taking their mean pay rate up to the A$1.9 million mark, according to recent report in the Australian Financial Review.
Those CEOs also earned an average bonus of $600,000 – up 22 percent in the past year.
And at the top end of the top end salary range, Leighton Holdings head Wal King earned the odd headline for taking home sizable A$36 million pay packet last financial year and then pocketing an added A$23 million in bonuses.
King, who has headed the construction company for 18 years, apparently believes everyone should be paid as much as possible after shareholders get fair return.
While at least one local top-ranking CEO (Theresa Gattung) has broken the $2 million barrier in terms of annual pay package, New Zealand boasts fewer big listed companies and there are no comparable figures.
A recent NZIM/Brookers salary survey put the average base salary paid to New Zealand CEOs (across public and private sectors) at around $150,000 representing 24 percent increase from the previous year.

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