I’ve never wanted to use the hashtag #WishIWasHim more than I do right now.
We were a little envious last month when we heard staff across the Qantas network would receive a portion of the $90 million set aside for staff bonuses.
But now this new bit of news has us wishing we were the company’s CEO – without the stress of the job of course.
According to new reports, head honcho Alan Joyce’s total pay packet has tripled to nearly $12 million after he successfully brought the airline’s profits to pre-GFC glory days of just under $1 billion. Read on
The large bonus represents a 490 percent increase on the prior year, when the boss was earning $2 million due to a base salary freeze. The freeze had been in place since 2011 during the airline’s financial difficulties.
But now that the carrier is back on track, his take-home pay is believed to risen for the year to $6.7 million, the Sydney Morning Herald reported.
The news source says he is now the best paid CEO in the group and is followed by CFO Gareth Evans, who was paid $3,926 million.
The Flying Kangaroo’s Chairman, Leigh Clifford admitted payments ‘were substantial’ but said it was justified, particularly because Joyce had sacrificed a 40 percent cut in home pay last year.
“For executive there have been no pay rises for three years, no short term bonuses since 2013 and no long term bonuses since 2009.”
Leigh Clifford, Qantas Chairman
He continued, attributing the turnaround in profits to the tough performance hurdles, which have been ‘met and exceeded’.
“The numbers are driven by the market value of Qantas itself, which has increases from $2 billion to around $8 billion over the past three years,” he said.
“This turnaround is also enabling us to pay up to 28,000 staff a share of $90 million in bonuses.”
Congratulations to everyone at the Qantas team.
