Joyce should be paid no more than 30 x minimum wage lets be generous and say $30k therefore $900k total pay to Joyce
A little disingenuous to say 'minimum wage', the reference statistic is 'average wages'.
- FY16 Average wage at Qantas is AUD$131,797.
- 29,204 FTE staff
- $3,849,000,000 wage expenditure.
Simple arithmetic (average salary) $131,197 times 30 = $3,953,910 to Mr. Joyce
Given that group revenue is 5% lower(in real terms) than when he started, his tenure has been a random walk of despair. The business has 'advanced' to the rear. Sure it impaired a fleet, and has a 'game changing' aircraft with an MSN in the 6XX. And boy oh boy did they get lucky with fuel!
Now $24,800,000 represents 189 times the average Qantas wage.
As Mr. Dixon generated a similar profit in 2008, and had a final salary of $10,700,000 for revenues 5% higher than today, perhaps Leigh is a little long in the tooth or the remuneration committee another bunch of empty suits.