Business Irish

Sunday 15 July 2018

Number of NAMA/NTMA high fliers earning over €100,000 a year jumps to 246

Minister for Finance, Paschal Donohoe
Minister for Finance, Paschal Donohoe

Gordon Deegan

The pay bonanza for high fliers at the National Asset Management Agency (Nama) and the National Treasury Management Agency (NTMA) increased last year as the number of employees on salaries over €100,000 jumped by six to 246.

New figures provided by the Minister for Finance, Paschal Donohoe, show that at the end of last year there were 103 Nama employees paid over €100,000. There were 143 people in that earning bracket at the NTMA.

The number of high earners at the two State agencies increased in spite of numbers employed at both bodies declining last year.

Numbers employed by Nama and the NTMA last year declined from 828 to 744. Numbers employed at Nama declined from 302 to 264 while numbers employed at the NTMA went from 526 to 480.

According to figures provided by Minister Donohoe, one person at the NTMA was earning over €400,000 with one individual at Nama in the same bracket.

In his written Dáil response to Fianna Fáil's Michael McGrath, Minister Donohoe revealed that the numbers of staff at the NTMA on remuneration between €300,000 and €400,000 in 2017 was four with zero in that earning bracket in Nama.

Minister Donohoe revealed that 12 staff members at the NTMA were on remuneration between €200,000 and €300,000 with four at Nama in the same earning bracket. The Finance Minister also confirmed that there are 98 staff at Nama earning between €100,000 and €200,000 last year with 124 NTMA staff in the same earning bracket.

Mr Donohoe said that the NTMA figures includes staff assigned to the Strategic Banking Corporation of Ireland and staff from the Banking Unit seconded to the Department of Finance.

Minister Donohoe stated that "total remuneration includes base salary and any taxable benefits paid including performance related payments, paid in 2017 in respect of 2016 and retention payments if any. The inclusion of taxable benefits may move individuals into the next relevant band".

The latest figures show that the very competitive pay rates available at the NTMA and Nama have made sure that job vacancy rates at the agencies are at a minimum.

At the end of November last from a then headcount of 790, the number of open positions at the NTMA and its various subsidiaries - including the State Claims Agency, Nama, the Strategic Banking Corporation, the National Development Finance Agency - stood at just 14.

Mr Donohoe has previously confirmed that 41 staff at Nama last year took up voluntary redundancy in the agency-wide scheme. The cost to Nama of funding the redundancies in 2017 was €3.9m and this followed a spend of €3.6m in 2016.

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