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Qantas CEO Alan Joyce. Photo: Alan Joyce at Boeing, Wikimedia Commons

Qantas CEO Alan Joyce ranks #1 highest paid Australian executive

CEO of Australian airline Qantas has ranked #1 in the list of Australia’s highest-paid bosses in 2018. His salary, 23.9 million AUD, is estimated to be 275 times the average wage.

The Australian Council of Superannuation Investors (ACSI) said that 2018 saw large increases in CEO bonuses. Of the 100 largest companies in Australia, Domino’s boss Don Meij was the only boss not to be awarded a bonus.

In achieving his result, Mr Joyce enjoyed the fruits of incentive allocation in 2014 when the price of company shares was $1.26 which was fully vested for FY2018 when the share price rose to $5.66.

The full top ten list of Australia’s highest paid CEO’s is:

  1. Alan Joyce ($23,876,351)
  2. Nicholas Moore ($23,855,580)
  3. Michael Clarke ($19,024,334)
  4. Bob Vassie ($13,246,088)
  5. Craig Scroggie ($12,515,914)
  6. Sandeep Biswas ($12,083,392)
  7. Brian Benari ($11,696,001)
  8. Raleigh Finlayson ($11,284,256)
  9. Andrew Bassat ($10,744,472)
  10. Colin Goldschmidt ($10,017,376)

Chief executive of ACSI Louise Davidson had said she wants to see greater transparency on CEO pay, especially following the banking royal commission in which public trust in executive conduct was shaken. She wants Australia to follow a UK model where CEO pay is measured against the average pay of their employees.