I do not think it is a lot of money at all for someone in overall responsibility for the number of people in the armed forces. As Lurking intimates, it is a pittance compared to some (many) folks in the city, most of whom are paid that amount within 5-10 years of starting the job. I think the position and responsibility warrants around £400K per year. Whether the individual who holds the position deserves that amount for their performance is another argument.