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Australian average earnings, CEO remuneration and CPI: 2001-2007

Over the period from 2001 to 2007, median fixed remuneration [of CEOs in Top 100 companies] increased by 96.4% in total, or 11.9% per annum compound... Over the same period, average adult weekly ordinary time earnings increased by 32.3%, while the consumer price index increased by 17.7%. As base salary and other aspects of fixed remuneration are (by definition) not explicitly tied to the company's performance, companies should disclose clearly the reason or reasons behind a significant increase in base salary. Few companies, despite requests from ACSI [Australian Council of Super Investors] and individual shareholders, provide explanations of fixed pay increases beyond generic disclosures stating fixed pay is reviewed annually with regard to movements in pay at other companies of a similar size. Source: CEO Pay in the Top 100 Companies: 2007 (http://www.acsi.org.au/documents/ACSI_Top100CEOPay_080903_FINAL.pdf), September 2008.

Full post as published by Lightbulb IP blog on March 16, 2009 (boomark / email).