With reference to the current hoo-hah about CEO’s bonuses, I note that: Wayne Rooney allegedly earns £13 million per year; while Yaya Toure apparently earns £11.5 million per year.
This appears to be some way in excess of Steven Hester earnings this year. Yet no-one is baying for the footballers’ blood. One famous London team’s performance this season has led some to bemoan the club’s financial prudency and begged for serious money to be spent on expensive players to improve that performance. Much the same argument is used for high salaries for CEOs who are expected to deliver winning performances.
If a few banks collapsed because they could not attract an effective CEO, we would all be plunged into economic meltdown. If a couple of football clubs went down the tubes, we’d be sad, but we’d get over it.
If Labour are going to initiate a Parliamentary motion on salaries, perhaps both bankers and footballers should be included. After all, performance related pay would be easier to calculate for footballers, and might then provide a benchmark for all professions?
I’d vote for the political party that was prepared to fight the issue on this comprehensive basis, as they would be brave indeed.
Tags: CEO bonuses, Labour, salaries, Steven Hester, Wayne Rooney, Yaya Toure