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June 18, 2011

Australia Top 10 CEO with largest Pay

Top 10 Highest Paid Aussie CEOs
The   Australian  Top 10 CEO with the  Biggest Salaries
Produced by Home Loan Finder
2010 was a rough year for many Australians – but not for the top 10 highest paid CEOS. With an extraordinary rise in executive salaries in Australia over the past 10 years, we can all see a widening gap between what CEOs earn and what they choose to pay their employees.
The average worker pulled in a little over $65K in 2010 whilst the average CEO of a top 50 company listed on the Australian Securities Exchange raked in over $6.4 million dollars – nearly 100 times the average salary. You may have earned around $30 per hour but these CEOs won’t get out of bed for anything less than $3,000 per hour.
What does this mean in the scheme of things? Well, the average national median house price in June of 2010 was slightly over $550,000 – something many of us will need 25 to 30 years to pay off. To paint a scarier disparity in purchasing power, consider this: if the average worker paid no income tax, wasn’t charged interest on the home loan (fat chance!) and didn’t spend a cent on anything else, it would still take nearly nine years to pay off the mortgage. Whereas under the same conditions, it would take the average CEO less than one month to own the house outright.