Latest bonuses paid to chief investment officers at the big industry super funds are measly compared to what portfolio managers working in the private sector earn.
A review of the remuneration of the chief investment officers at the 10 largest industry super funds in the year to June 2022 shows that an estimated 10 million super fund members are getting good value for money.
In essence, someone of Mark Delaney’s experience and track record could feasibly be earning at least double his total remuneration package for 2022 of $1.9 million.Delaney, of AustralianSuper, is the top paid CIO in big super with a base pay in 2022 of $885,795 and a cash bonus of $629,948 – 40 per cent of which is vested over three years. Delaney got a 13 per cent pay rise in 2022.
“They did not build the business from scratch and their jobs are not on the line if performance is bad,” he says. For example, bonuses either remained static or increased in 2022 at big super when performance numbers fell sharply.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Harry accuses Royal Family of 'planting stories' in latest attackPrince Harry has opened up about his ongoing tension with Royal Family in a new bombshell interview, declaring that 'silence is betrayal'.
Read more »
Chopper crash the latest in a series of summer tragedies in QueenslandActing Queensland Premier Steven Miles has laid flowers near the scene of Monday’s deadly helicopter crash, remarking that the state has “seen so much tragedy lately”.
Read more »
Latest COVID-19 surge is mostly infecting Australians who have not yet had the diseaseOnly one-in-five recently detected cases are reinfections, which suggests a past infection is a good defence against prevailing strains.
Read more »
‘Miserable’ Australian bankers await meagre bonusesLocal investment bankers had their second-best year for fees since 2009, but because all of Wall Street struggled, their bonus packages will shrink.
Read more »
nine.com.au -- the new ninemsn - News, Sport, TV, Entertainment, Lifestyle | Latest Breaking News Headlines from Australia and the worldMeet the new nine.com.au. Get the latest news, sport, TV, travel, fashion, fitness, recipes, celebrity news and exclusive content, all for free at nine.com.au, the home of Nine
Read more »
Online crackdowns spark alarm as Asian governments fight for control over the internet, big techA Facebook post made blogger Bui Van Thuan the latest target of Vietnam's tightening grip on the internet, as online censorship across Asia alarms human rights groups.
Read more »