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Business, Economics, Opinion

Pollie Pay > Too much or too little?

payexecutives It always surprises me to hear how much our politicians get paid.

Not because I think it’s too much. I often think it’s too little.

News Limiting is running this morning, a story revealing Julia Gillard is receiving a $90,000 pay rise to around $470,000, which is $40,000 more than US President Barack Obama and more than double UK PM David Cameron’s $221,000.

Maybe it has something with the resource rich nation that Australia is, or in compensation for the over the top emphasis the media places on Australia’s leadership role and our politicians in general.

No matter what people think of our  or any leader, they are the figure head and often the scapegoat for any decisions made. They’re on display 24/7 and part of the compensation for that, is higher pay. That’s forgetting whether or not they’ve been deemed successful in that role.

In any case, I find it bizarre that the compensation for running a country, is dramatically less than that of running a company.

The Australian Financial Review found that of the top 300 companies, the average Australian leaders are paid is $2.33million last year.

The Australian Council of Super Investors says across the S&P/ASX100, Ralph Norris of CBA was the highest paid in 2010 with a total remuneration of more than $16million, followed by Westfield’s Frank Lowy at $15.9million and then Leighton Holding’s Wal King at $14.7million.

Granted, companies stimulate, drive, grow and develop the economy of a nation, but they’re also there to provide the best possible return to shareholders.

So who should be paid more, executives that lead a business, or politicians that run a country?

I personally think journalists need a Christmas pay rise for pumping out more content than usual over the silly season because there’s less news to cover, but still the same amount of on air time to fill, but I’m kind of biased.

MEMO

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