Thursday 8 December 2016

Angry, stressed out, getting nothing, paying for everything

Society is not living up to the promise we make to the coping classes. Be careful, says Brendan O'Connor, they keep the show on the road

Published 14/08/2016 | 02:30

'Coping-class problems can often be viewed as first-world problems by those who speak on behalf of the poor. And certainly everything is relative. But at an 87th of the boss's pay, you'd have to conclude the people in the middle, as exemplified by CRH workers, are being screwed too.'
'Coping-class problems can often be viewed as first-world problems by those who speak on behalf of the poor. And certainly everything is relative. But at an 87th of the boss's pay, you'd have to conclude the people in the middle, as exemplified by CRH workers, are being screwed too.'

Albert Manifold is the CEO of CRH. CRH is the largest company on the Irish stock market.

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 Albert Manifold was also the highest paid CEO in a round-up by the Irish Times of the pay of bosses at Ireland's biggest companies. Manifold gets paid 87 times what the average worker costs at CRH. The average worker costs about €63k. Manifold earned €5.53m last year, up about a third on what he earned the year before.

Now, before you get up in arms, remember that obviously includes pension contributions and bonuses, and - as Manifold points out - because much of his pay is incentivised, it means that if he is doing well, then the shareholders are too. The shareholders must hope that in the next few years Manifold will hit the €8m per annum he can potentially earn.

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