After Friday’s final avalanche of annual reports, we’re starting to get
a complete
picture of the enormous CEO salaries that are now being paid. The
following list only looks at the pay packets of CEOs whose companies
have a June 30 balance, so we’re not including the likes of Westfield’s
Frank Lowy ($13m) and Macquarie Bank’s Allan Moss ($18.5m).

Similarly, this list only looks at actual payments in the 2004-05
financial year, so David Murray’s $17 million golden goodbye from the
CBA last month is not included and Fred Hilmer’s $4.5 million
“retirement benefit” is also excluded because it falls in 2005-06.
However, Wal King’s $23 million long term bonus, announced with his new
contract in April, did make the grade:

So here it is, the top six CEO pay packets of 2004-05:

Wal King: Leighton Holdings, $35m

Rupert Murdoch: News Corp, $31m

Roger Corbett: Woolworths, $8.4m

Chip Goodyear:
BHP Billiton, $6.4m

Michael Chaney:
Wesfarmers, $6.12m

David Murray:
CBA, $5.5m