The “market rate” or average salary for CEO’s in the top four banks in Australia - Commonwealth, Westpac, NAB and ANZ is $8,193,636**.

That’s 200 times the salary of a Customer Service Representative.

CEO’s Salary compared to other Finance Workers
Below is a snap shot of average salaries in Banking and Financial Services according to MyCareer.com. Click here to see the full comparison of average salaries in the finance sector.



** Source AFR Salary Review 2008

Inquiry into Executive Remuneration
The Productivity Commission has established an Inquiry into Executive Remuneration. FSU’s submission includes a number of recommendations, including changes to the way short term incentives operate as a proportion of executive pay. Click here to read the FSU’s submission in full.

What do you think?
Should executive salaries be capped? Is criticism of high executive pay rates envy or is there too much greed to allow for unregulated pay rates for executives? How do we get the balance right?

Have your say
Join the FSU’s Online Forum on Executive Pay. Click here to have your say!