QANTAS Execs.....Pigs at the Trough.
Whilst I dont disagree with some of the comments about large bonuses, some form of bonus system is required to get the talent the board thinks is best. Its here to stay whether we like it or not. It only takes one or two companies to offer them and every one else must then follow suit.
All those who think the Qantas result was a foregone conclusion just because Ansett collapsed is not thinking straight. How about the fact the the City Flyer initiative is considered to be one of the final nails in the Ansett coffin, one of many good management decisions there I think.
The comment about near third world wages is absolute rubbish; 5 year Second Officers on the 400 pulling in around 120K a year to do very little and senior 400 Captains pushing 300K. In a few years time I will be earning more (as a Second Officer if I chose to) than a Squadron CO in the RAAF that is responsible for $640 million worth of aeroplane and 150 men. Im quite sure he will be putting in quite a few more hours at work than I ever will.
There is absolutely no relevance in comparing pay rates in Australia with those achieved in the US; and when they are its invariably selective quoting to make the difference look as big as possible.
None of this means I wont be pushing for a pay rise if it can be achieved, but it can only be argued on merit and must be cognisant of the current environment, not some crap about the US guys getting more than me.
All those who think the Qantas result was a foregone conclusion just because Ansett collapsed is not thinking straight. How about the fact the the City Flyer initiative is considered to be one of the final nails in the Ansett coffin, one of many good management decisions there I think.
The comment about near third world wages is absolute rubbish; 5 year Second Officers on the 400 pulling in around 120K a year to do very little and senior 400 Captains pushing 300K. In a few years time I will be earning more (as a Second Officer if I chose to) than a Squadron CO in the RAAF that is responsible for $640 million worth of aeroplane and 150 men. Im quite sure he will be putting in quite a few more hours at work than I ever will.
There is absolutely no relevance in comparing pay rates in Australia with those achieved in the US; and when they are its invariably selective quoting to make the difference look as big as possible.
None of this means I wont be pushing for a pay rise if it can be achieved, but it can only be argued on merit and must be cognisant of the current environment, not some crap about the US guys getting more than me.
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Quote: "Nobody at QF has a gun at their head, if you don't like it leave!" (Messiah)
That's a thoughtless but pretty common statement when subjects like this one are being tossed around.
To a lot of people their jobs do represent a gun at their head - lose the job and that's it - penthouse to sh*thouse in one move.
That's a thoughtless but pretty common statement when subjects like this one are being tossed around.
To a lot of people their jobs do represent a gun at their head - lose the job and that's it - penthouse to sh*thouse in one move.
Grandpa Aerotart
ftr plt,
I agree with your wage comparison comments...as far as I'm concerned USD300,000 at United or wherever and AUS300,000 at QF is near enough the same thing in relative terms...I think what some do is say US300K is A$580K odd and then whinge that they are under paid in world terms...this is a rediculous and invalid comparison.
If you want to earn big net $ then do what a lot of us have done and/or continue to do...go overseas and work as an expat. If a pilot wants to live in Brisvegas and fly jets for VB on A70K/120k then compare his package to a similar operation in the US/EU BUT you must take into account relative costs of living...and don't forget US regional jet drivers are paid very little until they reach the top rungs within that system and they spend years in the company before they get more than 10 days or 2 weeks annual leave....many, many US F/Os in regionals actually qualify for food stamps
But if CEOs either don't wind it in, or the Govt/ share holders don't rein them in there will be massive reaction from the workers..whether they realise it or not their greed is becoming more and more under the spot light...and viewed for what it is!
As you say, companies are forced to compete for talent...time for the Govt to tax that talent to the point where these spiv packages are no longer viable.
Chuck.
I agree with your wage comparison comments...as far as I'm concerned USD300,000 at United or wherever and AUS300,000 at QF is near enough the same thing in relative terms...I think what some do is say US300K is A$580K odd and then whinge that they are under paid in world terms...this is a rediculous and invalid comparison.
If you want to earn big net $ then do what a lot of us have done and/or continue to do...go overseas and work as an expat. If a pilot wants to live in Brisvegas and fly jets for VB on A70K/120k then compare his package to a similar operation in the US/EU BUT you must take into account relative costs of living...and don't forget US regional jet drivers are paid very little until they reach the top rungs within that system and they spend years in the company before they get more than 10 days or 2 weeks annual leave....many, many US F/Os in regionals actually qualify for food stamps
But if CEOs either don't wind it in, or the Govt/ share holders don't rein them in there will be massive reaction from the workers..whether they realise it or not their greed is becoming more and more under the spot light...and viewed for what it is!
As you say, companies are forced to compete for talent...time for the Govt to tax that talent to the point where these spiv packages are no longer viable.
Chuck.
Ftr Pilot
You can do better than that.City flyer?Surely more.
Being on the winning team the euphoria can some times be delusionary.
QF`s magic formula has a lot more to do with luck and powerful political lobbying then many care to admit.
I agree,QF wages fair.
Raising the issue of RAAF wages may be as irrelevant to some as perhaps,comparisons to United wages.
How do the VB and Qantas bonuses to staff compare?
How will Godfrey`s bonus(After a float) compare to Dixons?
With VB`s low wages won`t that be a rort?
You can do better than that.City flyer?Surely more.
Being on the winning team the euphoria can some times be delusionary.
QF`s magic formula has a lot more to do with luck and powerful political lobbying then many care to admit.
I agree,QF wages fair.
Raising the issue of RAAF wages may be as irrelevant to some as perhaps,comparisons to United wages.
How do the VB and Qantas bonuses to staff compare?
How will Godfrey`s bonus(After a float) compare to Dixons?
With VB`s low wages won`t that be a rort?
The difference
Gnadenburg
I may have this wrong, but didn't Godfrey help start an Airline in this country, from scratch. It could have gone either way, and he could have trashed his reputation and a few years momentum by failing. Thankfully for the shareholders he has succeeded.
Contrary to popular belief on this forum, shareholders own companies and are in it to maximise their returns. The penultimate people Dixon and Godfrey are the shareholders, not the employees.
Of course, you can always go too far... as some of the flops of recent years have proved.
And really, if it's that easy to run a business (especially a fickle one like airlines), then get out there and do it.
I may have this wrong, but didn't Godfrey help start an Airline in this country, from scratch. It could have gone either way, and he could have trashed his reputation and a few years momentum by failing. Thankfully for the shareholders he has succeeded.
Contrary to popular belief on this forum, shareholders own companies and are in it to maximise their returns. The penultimate people Dixon and Godfrey are the shareholders, not the employees.
Of course, you can always go too far... as some of the flops of recent years have proved.
And really, if it's that easy to run a business (especially a fickle one like airlines), then get out there and do it.
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As everyone has said, the bonuses make no sense, whether it be to shareholders or employees, and it is only management and board types feathering their own nests. As I have said before it is time the government stepped in to protect shareholders and employees by making the practice illegal.
As for some comments about needing to pay these amounts to attract the best people, I can only say what a lot of crap!
You could probably pick almost any tech crew member from within the Qantas group who has been with the company for a couple of years, and therefore has a bit of background on the different areas of the company, give them a couple of months of briefings on the more detailed workings of the company, and they would be able to do just as good a job as GD, and would be happy to do it for a miserly $500,000 a year. (not that anyone really wants to sit in an office!)
Give GD 2 months training on our jobs and he would still be about 4 years and a lot of luck away from being remotely capable.
As for some comments about needing to pay these amounts to attract the best people, I can only say what a lot of crap!
You could probably pick almost any tech crew member from within the Qantas group who has been with the company for a couple of years, and therefore has a bit of background on the different areas of the company, give them a couple of months of briefings on the more detailed workings of the company, and they would be able to do just as good a job as GD, and would be happy to do it for a miserly $500,000 a year. (not that anyone really wants to sit in an office!)
Give GD 2 months training on our jobs and he would still be about 4 years and a lot of luck away from being remotely capable.
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Possible solution
Some solutions/scenarios:
1.Workers agree to accept 2-3% increase, on the proviso that, in good faith and in the interest of securing the company's future and profitability, the management not accept the 50% bonuses.
2.The employees - flight crew, ground staff, bureaucrats, everyone - form a syndicate, and attempt to buy a major/controlling stake in QF.
3. A series of indefinite strikes by all workers in protest at senior management conduct. Retaining a good PR/advertising company would be worth the investment: Not many Aussies like to hear of companies making huge profits, paying execs ridiculous bonuses and stripping pay and conditions off the 'workers'. This should hep get the point across.
Best time to do this is NOW whilst there is a monopoly - company will be denied turnover, and the competitors are not big enough (yet) to take advantage of this.
You need to have the courage to play this brinksmanship with these people, or soon, Australian Airlines will be doing most of your flying, on C scale pay rates. I remember when I was in GA--it seems a thousand centuries ago--we went into a interview to join the company. I left the office after I had completed an interview, and this old man came running after us, and he was crying. He couldn't see. We went there, and they had come and crossed off every question I answered. There they were in a pile--a pile of little answers. And I remember...I...I...I cried, I wept like some grandmother. I wanted to tear my teeth out, I didn't know what I wanted to do. And I want to remember it, I never want to forget. And then I realized--like I was shot...like I was shot with a diamond...a diamond bullet right through my forehead. And I thought, "My God, the genius of that, the genius, the will to do that." Perfect, genuine, complete, crystalline, pure. And then I realized they could stand that--these were not monsters, these were men, trained pilots, these men who flew with their hearts, who have families, who have children, who are filled with love, who may have even flown in GA--that they had this strength, the strength to do that. If I had ten divisions of those men, then our troubles here would be over very quickly. You have to have men who are moral and at the same time were able to utilize their primordial instincts to kill without feeling, without passion, without judgment--without judgment. Because it's judgment that defeats us……… But I digress….where’s that medication gone……
1.Workers agree to accept 2-3% increase, on the proviso that, in good faith and in the interest of securing the company's future and profitability, the management not accept the 50% bonuses.
2.The employees - flight crew, ground staff, bureaucrats, everyone - form a syndicate, and attempt to buy a major/controlling stake in QF.
3. A series of indefinite strikes by all workers in protest at senior management conduct. Retaining a good PR/advertising company would be worth the investment: Not many Aussies like to hear of companies making huge profits, paying execs ridiculous bonuses and stripping pay and conditions off the 'workers'. This should hep get the point across.
Best time to do this is NOW whilst there is a monopoly - company will be denied turnover, and the competitors are not big enough (yet) to take advantage of this.
You need to have the courage to play this brinksmanship with these people, or soon, Australian Airlines will be doing most of your flying, on C scale pay rates. I remember when I was in GA--it seems a thousand centuries ago--we went into a interview to join the company. I left the office after I had completed an interview, and this old man came running after us, and he was crying. He couldn't see. We went there, and they had come and crossed off every question I answered. There they were in a pile--a pile of little answers. And I remember...I...I...I cried, I wept like some grandmother. I wanted to tear my teeth out, I didn't know what I wanted to do. And I want to remember it, I never want to forget. And then I realized--like I was shot...like I was shot with a diamond...a diamond bullet right through my forehead. And I thought, "My God, the genius of that, the genius, the will to do that." Perfect, genuine, complete, crystalline, pure. And then I realized they could stand that--these were not monsters, these were men, trained pilots, these men who flew with their hearts, who have families, who have children, who are filled with love, who may have even flown in GA--that they had this strength, the strength to do that. If I had ten divisions of those men, then our troubles here would be over very quickly. You have to have men who are moral and at the same time were able to utilize their primordial instincts to kill without feeling, without passion, without judgment--without judgment. Because it's judgment that defeats us……… But I digress….where’s that medication gone……
Colonel.
My favourite of yours and to quote-"I watched a snail crawl along the edge of a straight razorblade.That`s my dream,that`s my nightmare".
Smoke some good **** in Cambodia?
My favourite of yours and to quote-"I watched a snail crawl along the edge of a straight razorblade.That`s my dream,that`s my nightmare".
Smoke some good **** in Cambodia?
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I'm sure that if or when Virgin management decides to so brazenly reward themselves for doing nothing more than what they were hired to do, then all of us will sharpen our verbal knives as much as we have against the Big Red Vampire.
In the interim, back to Qantas.
I find it interesting to note that if QF management had allocated part of their "performance" bonuses to QF staff (THE most important part of the company, make no mistake), then not only would the pay freeze and reduced salary increments enforced upon employees not have been required for so long (or at all, in a perfect world) but also 15 (that's right, 0.045% of the QF workforce) Impulse pilots would have kept their jobs and been saved the ignomany of renegotiating car and home loans, going to other operators and asking for work in a market where jobs are as rare as hen's teeth, and, in some cases, lining up in a Centrelink queue.
I'm trying to be positive at the moment, but I hope I can be forgiven for seeing red (pardon the pun
) in the face of such blatant opportunism at the helm of Australia's flag carrier.
P.S - It would be lovely if pilots got a performance bonus;
Pilot: "Oh, look - I landed the plane smoothly on a wet runway in nil-wind conditions"
Board of Directors: "Congratulations. Here's a cheque for 50% of your base salary."
In the interim, back to Qantas.
I find it interesting to note that if QF management had allocated part of their "performance" bonuses to QF staff (THE most important part of the company, make no mistake), then not only would the pay freeze and reduced salary increments enforced upon employees not have been required for so long (or at all, in a perfect world) but also 15 (that's right, 0.045% of the QF workforce) Impulse pilots would have kept their jobs and been saved the ignomany of renegotiating car and home loans, going to other operators and asking for work in a market where jobs are as rare as hen's teeth, and, in some cases, lining up in a Centrelink queue.
I'm trying to be positive at the moment, but I hope I can be forgiven for seeing red (pardon the pun
) in the face of such blatant opportunism at the helm of Australia's flag carrier.P.S - It would be lovely if pilots got a performance bonus;
Pilot: "Oh, look - I landed the plane smoothly on a wet runway in nil-wind conditions"
Board of Directors: "Congratulations. Here's a cheque for 50% of your base salary."
Last edited by 2daddies; 1st Sep 2002 at 14:20.
Moderate, Modest & Mild.
As Lead Balloon has pointed out, Mr Godfrey DEVISED the business plan for Virgin Blue from scratch - certainly a very different scenario than the responsibilities and work incentives taken on by the QF upper management. An airline that has been flying profitably for more than half a century (having been bankrolled by successive Australian governments for the majority of that time.)
And here`s an interesting FACT that I learned today from CNN ("Money Line").
Q. How does the salary of the AVERAGE CEO compare with that of the AVERAGE worker?
A. 400 times MORE! OINK, OINK.
And here`s an interesting FACT that I learned today from CNN ("Money Line").
Q. How does the salary of the AVERAGE CEO compare with that of the AVERAGE worker?
A. 400 times MORE! OINK, OINK.
Godfrey`s money?
Poorly paid staff will do him just fine.
Love the new EBA too.3 years time 128K a year for VB Captains.Just beautiful for future VB shareholders eh Kapt M.
Lock em in.Float next year and you still have VB pilots the poorest by a country mile for many shareholders meetings to come.
Not the first time the Poms have done us over.
If Australian Airlines is a success Dixon has devised his own airline too.Albeit Australian workers renumerated to a fair standard.
One-eyed at best Kapt M.
I wish the QF boys had gone on strike too.Maybe pilots would be a little more respected and renumerated in Australia today.
Poorly paid staff will do him just fine.
Love the new EBA too.3 years time 128K a year for VB Captains.Just beautiful for future VB shareholders eh Kapt M.
Lock em in.Float next year and you still have VB pilots the poorest by a country mile for many shareholders meetings to come.
Not the first time the Poms have done us over.
If Australian Airlines is a success Dixon has devised his own airline too.Albeit Australian workers renumerated to a fair standard.
One-eyed at best Kapt M.
I wish the QF boys had gone on strike too.Maybe pilots would be a little more respected and renumerated in Australia today.
Last edited by Gnadenburg; 3rd Sep 2002 at 12:27.
Grandpa Aerotart
Dixon didn't devise AA...it was the idea of a PX F28 Captain mate of mine in Cairns...he put it in a letter to Dixon, got a favourable response, they corresponded for a short while (read he fleshed the idea out for Dixon!!) and then...nothing. Wasn't a year after that before the AA rumours coming from QF and wherever else.
Does he feel 'cut off'?
You bet he does!!
He had rather hoped for a job there to get him out of PX but no such luck.
Chuck.
Does he feel 'cut off'?
You bet he does!!
He had rather hoped for a job there to get him out of PX but no such luck.
Chuck.
Chimbu
Cool.
We can say it was 89ers who created the idea of Virgin Blue.
Just tire of some attidutes that VB has vindicated the actions or consequences of 89.
60 odd thousand a year and a Yankee Doodle Dandee two week self-funded 737 course.Professional pilots bow your heads.
But the AFAP is strengthening!
Cool.
We can say it was 89ers who created the idea of Virgin Blue.
Just tire of some attidutes that VB has vindicated the actions or consequences of 89.
60 odd thousand a year and a Yankee Doodle Dandee two week self-funded 737 course.Professional pilots bow your heads.
But the AFAP is strengthening!
Moderate, Modest & Mild.
Australian Airlines is the nothing more than a budget QANTAS carrier - using QANTAS aircraft.
The ploy of starting up an "express" subsidiary of the parent - QANTAS Express could just have easily been used - is nothing new in the airline world. It is, and has been for a decade or more, managements' strategy for introducing lesser conditions into established companies. ie, re-setting the clock.
It saves head-on industrial confrontation by slowly introducing more workers, on lower rewarded structures than existing workers. Slowly the "budget/express" (read Australian airlines) will take more and more flying away from QANTAS, as management declares more and more routes "unprofitable" or " able to be operated more efficiently by AA".
Experienced unions are aware of this, and so I expect there have been some trade-offs, or complicity with QF management in the passive acceptance of something introduced to maintain QF upper managements' salaries and bonuses at an "acceptable level" for themselves.
Why should THEY be expected to forego their multi-million dollar annual payouts, when they can send another hundred or more workers on $40-50k p.a. to the Dole queue, and reduce the remainders' pitiful salary by several thousand dollars?
At $20 MILLION a year (that was the figure quoted as being the salary of the AVERAGE CEO, on CNN) life is bloody tough!
Just to re-cap, that CEO salary of 400 TIMES (more than the average worker) was TIMES, and NOT 400%, which would only be 4 times!
So you see, Gnadenburg, Dixon has only COPIED a strategy (successfully) used in the USA, the U.K., and Europe, whereas Mr Godfrey ala Virgin Blue started from the ground floor - no existing infrastructure, staff, office space, terminals, and so forth, PLUS the gamble of a new brand.
Dixon has introduced Australian Airlines, riding on the back of QANTAS - even to allowing customers Frequent Flyer points credit and usage between the two.
The blow to Australia's professional pilots was dealt in 1989, when the scabs who went to work for Ansett, Australian, IPEC and East-West, EFFECTIVELY removed the decades of work previous pilots had put in, to make the AFAP our representative body. You can thank those @ssholes for the position that Australian domestic airline pilots are in today, and the long road that lies ahead in re-building the conditions.
The ploy of starting up an "express" subsidiary of the parent - QANTAS Express could just have easily been used - is nothing new in the airline world. It is, and has been for a decade or more, managements' strategy for introducing lesser conditions into established companies. ie, re-setting the clock.
It saves head-on industrial confrontation by slowly introducing more workers, on lower rewarded structures than existing workers. Slowly the "budget/express" (read Australian airlines) will take more and more flying away from QANTAS, as management declares more and more routes "unprofitable" or " able to be operated more efficiently by AA".
Experienced unions are aware of this, and so I expect there have been some trade-offs, or complicity with QF management in the passive acceptance of something introduced to maintain QF upper managements' salaries and bonuses at an "acceptable level" for themselves.
Why should THEY be expected to forego their multi-million dollar annual payouts, when they can send another hundred or more workers on $40-50k p.a. to the Dole queue, and reduce the remainders' pitiful salary by several thousand dollars?
At $20 MILLION a year (that was the figure quoted as being the salary of the AVERAGE CEO, on CNN) life is bloody tough!
Just to re-cap, that CEO salary of 400 TIMES (more than the average worker) was TIMES, and NOT 400%, which would only be 4 times!
So you see, Gnadenburg, Dixon has only COPIED a strategy (successfully) used in the USA, the U.K., and Europe, whereas Mr Godfrey ala Virgin Blue started from the ground floor - no existing infrastructure, staff, office space, terminals, and so forth, PLUS the gamble of a new brand.
Dixon has introduced Australian Airlines, riding on the back of QANTAS - even to allowing customers Frequent Flyer points credit and usage between the two.
The blow to Australia's professional pilots was dealt in 1989, when the scabs who went to work for Ansett, Australian, IPEC and East-West, EFFECTIVELY removed the decades of work previous pilots had put in, to make the AFAP our representative body. You can thank those @ssholes for the position that Australian domestic airline pilots are in today, and the long road that lies ahead in re-building the conditions.
From where I sit:
Godfrey,modelled on a European formula.Not his money.Will make millions and millions with his workers on below industry standard wages out of a float.
His workers rewarded with a taxed $1000 bonus and a case of wine that wholesales for $36.
As a further reward,just before the killing that will be made from a float,the pilots are being locked into a lousy EBA.
Can just see the prospectus now,our super professional pilots(pay for their training) are just super competitive(paid at least 30% less than our competitors).
Dixon,a mug from Wagga.His staff suitably renumerated.
On your last paragraph I have never argued.
Godfrey,modelled on a European formula.Not his money.Will make millions and millions with his workers on below industry standard wages out of a float.
His workers rewarded with a taxed $1000 bonus and a case of wine that wholesales for $36.
As a further reward,just before the killing that will be made from a float,the pilots are being locked into a lousy EBA.
Can just see the prospectus now,our super professional pilots(pay for their training) are just super competitive(paid at least 30% less than our competitors).
Dixon,a mug from Wagga.His staff suitably renumerated.
On your last paragraph I have never argued.
Last edited by Gnadenburg; 4th Sep 2002 at 03:18.
Gnandenburg
The point that I think Kaptin M and I are making is still valid - and is the way of the capitalist system.
Godfrey spent his own time and money developing a business plan. The fact it is not his money, is neither here nor there. In fact how many companies ever use their own money for expansion or start-up - they tend to go to the market for the best deal available. The money provided by Virgin to create Virgin Blue is probably worth three times any money that could have been provided by a less astute investor like a Saudi Bank or an Asian Infrastructure bank. This is where Godfrey gets his reward - in bringing forward a viable business plan that will turn a small investment into a large return via investments (Corrigan) and ultimately an IPO. Godfrey quite rightly deserves the return on his time and expertise he has invested.
The question of employees getting a return is answered quite simply: What risk have they taken to deserve a just return. I bet you there was a time for Godfrey where he had everything on the line and more whilst he was putting together this deal, as is the way of these things. High risk - High Return. Everything always looks easier with the 20:20 vision hindsight gives us.
If a Company is using monopolistic powers to drive down wages then we need more competition, which will then allow more choice for the employees that have something out of the ordinary to offer.
The question of Qantas execs getting paid a fair sum is for the board and ultimately the shareholders to decide. If the shareholders believe Dixon is not improving the value of Qantas then they will frog march him out of there in no time at all. So far, whether by good management or good luck, it would be hard to say that he is doing a bad job.
The point that I think Kaptin M and I are making is still valid - and is the way of the capitalist system.
Godfrey spent his own time and money developing a business plan. The fact it is not his money, is neither here nor there. In fact how many companies ever use their own money for expansion or start-up - they tend to go to the market for the best deal available. The money provided by Virgin to create Virgin Blue is probably worth three times any money that could have been provided by a less astute investor like a Saudi Bank or an Asian Infrastructure bank. This is where Godfrey gets his reward - in bringing forward a viable business plan that will turn a small investment into a large return via investments (Corrigan) and ultimately an IPO. Godfrey quite rightly deserves the return on his time and expertise he has invested.
The question of employees getting a return is answered quite simply: What risk have they taken to deserve a just return. I bet you there was a time for Godfrey where he had everything on the line and more whilst he was putting together this deal, as is the way of these things. High risk - High Return. Everything always looks easier with the 20:20 vision hindsight gives us.
If a Company is using monopolistic powers to drive down wages then we need more competition, which will then allow more choice for the employees that have something out of the ordinary to offer.
The question of Qantas execs getting paid a fair sum is for the board and ultimately the shareholders to decide. If the shareholders believe Dixon is not improving the value of Qantas then they will frog march him out of there in no time at all. So far, whether by good management or good luck, it would be hard to say that he is doing a bad job.
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Why do CEO's get huge salaries?
Because the shareholders percieve them as a scarce resource worthwhile of such rewards and responsibility, supply and demand.
Airline staff in general are not a scarce resource. These days I can shake a tree in the park and 50 pilots and F/A's will fall out of it, all qualified to work my new start up airline.
Ex AN CSO's, bagsnatchers and the like would love to return to the gravy train where your $38k base salary swells to nearly $100k on the back of overtime and roster hijacking.
But the CEO's and management types are harder to find, particularly good ones (just look at Ansett under Ables).
So what if Dixon gets $10 mill a year, the shareholders just want return on investment and capital growth, if management are delivering and exceeding expectations then I too would reward them with a bonus.
Funnily enough CEO's do not undercut one another on salaries, they do not leave school and become a CEO (of a karge company)one year later, they do not create seniority lists to protect their position even though other aspirants may be able to produce a better outcome, they take full responsibility when ANYONE in the company stuffs up.
Oh, and they don't jealously bitch about each other in their seemingly endless spare time.
Because the shareholders percieve them as a scarce resource worthwhile of such rewards and responsibility, supply and demand.
Airline staff in general are not a scarce resource. These days I can shake a tree in the park and 50 pilots and F/A's will fall out of it, all qualified to work my new start up airline.
Ex AN CSO's, bagsnatchers and the like would love to return to the gravy train where your $38k base salary swells to nearly $100k on the back of overtime and roster hijacking.
But the CEO's and management types are harder to find, particularly good ones (just look at Ansett under Ables).
So what if Dixon gets $10 mill a year, the shareholders just want return on investment and capital growth, if management are delivering and exceeding expectations then I too would reward them with a bonus.
Funnily enough CEO's do not undercut one another on salaries, they do not leave school and become a CEO (of a karge company)one year later, they do not create seniority lists to protect their position even though other aspirants may be able to produce a better outcome, they take full responsibility when ANYONE in the company stuffs up.
Oh, and they don't jealously bitch about each other in their seemingly endless spare time.
