Performance pay fine, if you earn it
Salaries of bank chiefs are capped at €500,000, a fortune to the average person but modest remuneration in the dizzy world of high finance.
Exactly what compromise should we make when it comes to deciding the pay of the incoming chief executive of AIB, our biggest bank?
In the private sector, the market decides. In the public sector, other considerations prevail. And AIB, now nationalised and having cost Irish taxpayers €20bn, belongs for the moment in the public sector.