We all know that company leaders get paid a lot to sit at the top of the corporate food chain. But I’ve never considered just how big that glut of riches is, for those who reach the elite executive halls of Australia’s most high profile companies.
But a new article has revealed what Australian CEOs earn when compared to their average employees wage, and the results are interesting, to say the least.
They reveal exactly how much our business titans take home each week to compensate them for leading our biggest industries – banking, grocery, entertainment, resources and more – and for dealing with the stress, the media attention, the long hours, the travel away from family.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
I’ve seen first-hand the impact (both positive and negative) this type of job can have on a family, because one of my relatives appears on this list.
And according to the data, this person earns a staggering six-figure sum per week. Per week!
Can you imagine seeing that figure pop up on your payslip?! I’m sure their mortgage chews through a sizeable chunk of it, but still – it certainly casts a new light on the Christmas presents they post for the kids each year.
This ranking also makes me wonder whether the effort I put into scraping together thousands and thousands of dollars for health insurance every year is really all that it’s cracked up to be.
After all Christopher Rex, the CEO of Ramsay Health Care – which owns and operates Pindara Hospital in Benowa – ranks towards the top of the list. It certainly equates to a lot of patients to cover his wage each week, many of which are covered by health insurance (no wonder health insurance premiums are getting so expensive…)
Rex takes home a total annual CEO salary including salary, bonus and equity share of just over $4.6m. Or $383,000 per month. Or $88,400 per week.
For the sake of comparison: the average annual full-time salary is $81,921 pre-tax, according to the most recent ABS weekly wage data (May 2016).
So he earns more in five days than the average nurse, teacher or police officer earns in 12 months.
Do you ever wonder if our priorities as a society are supremely messed up?