Nice job if you can get it....

[Chronic Snoozer]

From SMH.com.au

Qantas CEO Alan Joyce's record $25 million pay this year makes him just one of five CEOs to receive more than $20 million in reported pay in one year, and the first to top highs not seen since the financial crisis.

The Qantas annual report, released on Friday, showed that Mr Joyce's high pay reflects a large payout of his long-term incentives and shares (Mr Joyce's base pay was just $2.1 million) which have ridden the benefits of the growing company share price which has increased from a low of almost $1 in 2014 to close to $6 today.

Mr Joyce, who is widely credited for turning around the ailing airline, made a personal donation of $1 million to the 'yes' campaign for same-sex marriage earlier this week.

Three years ago, 97 per cent of Qantas shareholders voted to weight Mr Joyce's long-term incentives to pay-out this year if he could deliver the goods.

The Irish-born Australian citizen has delivered on his promise and seen his pay jump from $12 million in 2015 and $13 million in 2016 to $24.58 million this year.

His senior executive team have been equally well rewarded with CEO of Jetstar Jayne Hrdlicka receiving $8.13 million and CEO of Qantas International Gareth Evans receiving $8.18 million.

There is no question that these pay outcomes are high. That's because they reflect the company's exceptional performance", Qantas chairman Leigh Clifford AO said in a statement.

"The company's market value has risen from $2.5 billion to $10 billion. We have generated around $3.5 billion in profit. The share price has risen by about 350 per cent over three years. And the value of executive bonuses, which are mostly paid in Qantas shares, have risen with it," Mr Clifford said.

Qantas shares are down 0.9 per cent.

Is it just me or does $25mio pay appear to be a wee bit excessive for a 38 hour week? Nah, its probably just me....

[Rodney Rotorslap]

Well it's obscenely excessive for a 52 week year.

[PPRuNeUser0131]

It is ridiculously excessive for any period of time and for any reason.
How on earth does he get away with this?
Totally complacent Board and totally ignored shareholders?
No one is worth that much money, no one.

[ohallen]

Well what would you expect a Chairman to say reminds of Australia Post a few weeks ago....oh that's right his words attracted strident criticism because it did not pass the pub test and neither does this on so many levels.

When is someone going to stand up to this obscenity and remind them this is NOT their money and the company is not their play thing for self enrichment.

No one and I say again No one is worth that sort of pay for doing their damn job.

Hopefully the revolution is coming.

[wheels_down]

Maybe Alan and Jayne should get the bus.

r8ATOARgLO8

[busdriver007]

Alan Joyce is now the highest paid Aviation CEO in the world. All this based on an 18 month pay freeze for all full time staff. Since Alan became CEO the Airline has LOST $238 million! Revenue has remain fixed at around $15-16 billion since 2008. $1.6 billion of shareholder funds have been spent to keep the share price where it is when it should have been spent on future proofing the Airline with Fuel-Efficient jets. Maybe some of the Commentators in the Australian Media have been sweet talked by a Chairmans Club Membership!

[dragon man]

When we all start our one on one performance review with HR next year and they ask us what our goals for the next year are we could reply that taking the CEO as our role model to gouge as much money from the company as we can.

[goodonyamate]

This, along with the current issues around rostering, disruptions, loss of pay when extending etc should be kept right at the front of every SH pilots mind for the upcoming EA.

[Nick_F]

Alan Joyce parades around like he's saved the day. But I don't understand the glory he gets. Qantas were in a bad way. Then the embargo with Iran ended and oil prices dropped making fuel cheaper (the highest expense in airlines). Then he "rearranges" the company by sacking and pay freezes (hardly a strategic mastermind). Then surprise surprise Qantas makes a profit.

Anyone could have accomplished what he's done. Some may have even done a better job where less people were affected negatively.

I'm ashamed that my CEO is Alan Joyce.

[Qantas 787]

Cliffords email to staff justifying it was laughable.

Imagine how good $25 million could be reinvested in the business?

[dragon man]

Cliffords email to staff justifying it was laughable.

Imagine how good $25 million could be reinvested in the business?

You mean employ more staff to fill the gaps? Put enough meals on the flights to give the premium passengers their choice? Joyce would make Gordon Gecko blush!!!

[What The]

I wish every one of them a horrible painful death

[Global Aviator]

Yes not bad at all.

Not the best way to improve staff morale unless, I don't work for QF but if all staff have received a record bonus then this would be ok, well done guys well earned.

Thr banking sector seems to have fixed these payouts.......

What is the public perception of these pays? We all saw the Aussie post issue.... Ahh Aussie post profits must be up, 16 million letters sent and received this week.....

[BogeyBoy]

Alan Joyce parades around like he's saved the day. But I don't understand the glory he gets. Qantas were in a bad way. Then the embargo with Iran ended and oil prices dropped making fuel cheaper (the highest expense in airlines). Then he "rearranges" the company by sacking and pay freezes (hardly a strategic mastermind). Then surprise surprise Qantas makes a profit.



Lets not forget the "crisis" mega loss (on paper) when they wrote down the capital, nor ending the self imposed domestic war with Virgin.



Not the best way to improve staff morale unless, I don't work for QF but if all staff have received a record bonus then this would be ok, well done guys well earned.


Yes, and that's the magic of the QF PR team. Staff numbers slashed, while the remaining staff are forced onto a pay freeze. Subsequently, staff workload is through the roof, only to be "rewarded" with a cash "bonus" that is less than what the wage freeze took. The majesty of the QF PR play is that staff that voice objections over AJ's windfall are labelled as ingrates.

Furthermore, don't think the mega bonuses are limited to AJ and the board. Apparently any run-of-the-mill exec manager that was around when the LTIP was introduced got their windfall this year. That's in addition to their usual "performance" based bonus!

The divide between the top & the bottom has never been greater.

[Blitzkrieger]

The worm is turning......

[ramble on]

Big corporate board smoke and mirrors. How do these people sleep at night given what you lot were threatened with just a short while ago.

Millions spent on pointless livery, uniform and admin changes, coal face cutbacks (crew, staff, service). For mine the QF product falls short of many of its competitors (ANZ, EK, SQ EY and even many of China's carriers). Qantas isnt a regular international travellers first choice.

Nick E - I am ashamed that he's CEO of QANTAS too.

[QuarterInchSocket]

And just to twist the knife whilst it's in - he donates a mil $ of "his own money" to the gay cause.

This guy has to be one of the worst imports this country has permitted. To come to Australia and deny many young Australians a decent life on decent wages and conditions is despicable.

[porch monkey]

Geez, tough audience......:ooh: Didn't he save the company?. Going from a $3bn loss to $bn profits? At least that's what the media would have you believe... :rolleyes::\ Oh wait, maybe he's be interested in stepping across the road next, :ok:

[QuarterInchSocket]

You gest, but that's precisely what the minstrels are singing. My gut tells me he has a job wherever he wants in the world thanks to his handy work at q.

I wonder if him crossing the road could be anti-competitive? He knows the intricacies of q's operation and no doubt has made a roadmap for him or his incumbent. In any case, if that idiot board had any sense they'd bar him from being an exec on a domestic or foreign operator for the foreseeable in the exit contract.

[Pinky the pilot]

We all saw the Aussie post issue.... Ahh Aussie post profits must be up, 16 million letters sent and received this week.....

Ah yes, Aussie Post.

I posted on the 25th of August, via Priority Mail from Waikerie South Australia, a cheque to the AFAP offices in Melbourne for my annual subs.

As of yesterday, 15th September, the letter had not arrived!:mad::mad:

Further comment on this escapes me.:rolleyes:
(Apparently it arrived the day I posted this)

Re the subject of this thread; I concur with other posters who stated that no-one is worth that sort of salary. It is indeed an obscenity!