a day ago
- Business
- Sydney Morning Herald
Big salaries back at the big end of town
As bizoids descend on Canberra to talk productivity, living standards and artificial intelligence, CBD thought it was wise to see how the 1 per cent are travelling.
Commonwealth Bank boss Matt Comyn is one of 23 guests at the government's economic reform roundtable, and, sadly for him, his company is short a couple of bil. The boss of Australia's biggest business by market capitalisation pocketed $7 million in the year to June, compared with almost $9 million in the year prior.
While Comyn's fixed pay and cash bonus increased, he received less from deferred awards that vested during the year. Better that than being replaced by AI chatbots, as happened to dozens of CommBank call centre staff recently.
At the Big Australian, big salaries are also par for the course – even as profits and dividends fall. Chief executive Mike Henry trousered a 16 per cent annual pay rise to $US8.5 million ($13.11 million). His colleagues Brandon Craig and Vandita Pant have also dug up healthy pay rises, netting $US3.15 million and $US4.24 million, respectively.
Speaking of jobs, Comyn's predecessor Ian Narev is ensconced at job search business Seek. He's sitting on an 8.1 per cent annual pay rise to $5.4 million.
Canavan's energetic table
Not everyone is getting into the roundtable spirit. Nationals senator Matt Canavan sat himself at a table across from Parliament House with a sign that screamed: 'ENERGY PRICES ARE THE REAL PRODUCTIVITY ISSUE! CHANGE MY MIND'.
