Next time you hear of a business lobby group calling for real wage cuts for workers, or read the anti-worker frothings of The Australian Financial Review urging that wages be slashed, remember that the pay of top CEOs in Australia is excluded from those self-serving musings. CEO pay is going up -- rapidly.
So what's new, you may think -- isn't CEO pay always rising rapidly? Not in 2020, when the pandemic saw a number of CEOs forego bonuses, either because their companies were struggling or, just as commonly, it would have been a shocking look at a time when Australians were struggling in a recession.
But now CEO pay has bounced back, according to the latest analysis of CEO pay of ASX 200 companies by the Australian Council of Superannuation Investors (ACSI), which looks at actual pay taken home by CEOs, compared to reported pay by companies.