News

International News Comment & Analysis Australian News Cultural Dissent Loose Cannons Cartoons

Hot Topics

Environment Workers & Unions Latin America Anti-war Art & culture Asia Region Indigenous rights

Discussions

GLW Discussions List Links Bolivia Rising Ecuador Rising LeftClick Live from Palestine

Advertising

The following ads are selected by google. For more info click here.

BRIEF
Obscene capitalist greed

Kerry Smith

19 May 2007

Australia’s highest-paid boss, Macquarie Bank chief executive officer Allan Moss, has pocketed a 57% pay rise, now taking home more than double an average worker’s yearly wage for one day at the office. In a day, he earns more than most workers get in a year.

Wages over the last 12 months have only increased a pitiful 4%, in line with the CPI but well below the price rises of basic necessities, such as food.

Moss earned $33,489,818 in the year to March 31, 2007. This was 57% more than he got in the previous 12 months ($21,210,349). His wage is the equivalent of $644,034 a week, $128,806 a day or $16,948 an hour, if he worked a 38-hour week. The average Australian wage per annum is about $55,000.