The real story behind the Times Rich List
Published 30/11/2003 | 00:11
THE executive remuneration (pay, to you and me) of the Irish Times top people disclosed in a mind-numbing page of detail on Wednesday failed somewhat to show the real packages when bonuses, benefit-in-kind and pensions are taken into account.
When these figures are added, it is likely that the top basic salary of ?296,000 for editor Geraldine Kennedy might be boosted by up to 81.5 per cent - giving real pay rates somewhere in the region of ?530,000 to ?550,000.
This year the big beneficiaries of ?621,000 in bonuses were managing director Maeve Donovan and deputy MD Michael Austen, who each got around ?200,000 in bonus payments. The rest was shared between the other executives, with Geraldine Kennedy getting ?40,000.