(photo source: Australian Broadcasting Corporation)
(CEO), the chief executive of Australian companies, earns an average of A $4.75 million a year, 78 times the annual salary of ordinary Australian workers, according to the Australian Broadcasting Corporation. According to gender differences, the average annual salary of male CEOs is nearly A $1 million higher than that of female CEOs.
Business consultant Rivirius (Conrad Liveris) conducted the survey. He has investigated executive pay at Australia's 100 largest listed companies. Of the 100 companies listed on the Australian Stock Exchange, chief executives earn an average of A $91352 a week, compared with an average of A $1171 a week.
(photo source: Australian Broadcasting Corporation)
Mr Rivelis said Australia's executive pay statistics were out of date. Australia's business environment has been changing for decades, but executive pay has never been reassessed. Wages for ordinary Australian workers are stagnating, but salaries for chief executives continue to rise. In the past 12 months, CEO salaries have grown 46% faster than average employees.
However, the same level of women and men's income gap is very large. Of these companies, only seven women are reported to be chief executives, with the highest income being Susan Lloyd-Hurwitz, the chief executive of Mirvac, a real estate company, with an annual salary of A $5.3 million.
(photo source: Australian Broadcasting Corporation)
Some female executives in other positions often earn more per year than chief executives. For example, Vicklana Jacques (Shemara Wikramanayake), executive director of Macquarie Asset Management firm (Macquarie Asset Management), earns A $17.3 million a year and Macquarie Group Chief operating Officer Sobra (Nicole Sorbara) earns A $5.8 million a year.
Of the 100 companies listed on the Australian Stock Exchange, the highest-paid men are typically group chief executives, while the highest-paid women are usually heads of business units, Mr. Rivelis said.
(photo source: Australian Broadcasting Corporation)
