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The solution to that is to impose the cap, not to ignore it.
The solution to that is to impose the cap, not to ignore it.But it doesn't. As I already said, the head of Anglo is on a package of over €1m a year but we pretend he is only being paid 500k. Caps sound good in the media but that's all.
But it doesn't. As I already said, the head of Anglo is on a package of over €1m a year but we pretend he is only being paid 500k. Caps sound good in the media but that's all.
You missed one important skill - leadership. The CEO needs to be able to build a vision for the future, and lead the organisation towards that vision. He or she needs to be able to manage a team of senior executives, keep them focused on the goal, and keep manners on them.At the end of the day, a CEO of a bank needs some knowledge of management practice, risk management, how to read company accounts and common sense. Every year the Smurfit School and other MBA providers in this state produce high caliber candidates for positions like these who would be willing to work within the salary cap.
Fully agree.Salary increase does not equal expertise increase as we have seen in recent years. We need hardworking intelligent people willing to work for an honest days pay and €500k is more than an honest salary.
The solution to that is to impose the cap, not to ignore it.
If anyone is demonstrably worth more than 500 k I have no problem with it, but how is this assessed? If someone paid a million can save a billion or so because of their unique skills, no problem . But I don't know if this is the criteria that applies, or is Elderfield et al just looking for the "going rate", whatever that is?
The purpose of the cap is to stop the State-owned banks going beyond the €500k.Why have a cap in the first place? If the Government want to offer 500k for the job then fine. People who are intereseted in the job at that price will apply. I don't understand why we need to cap wages.
The purpose of the cap is to stop the State-owned banks going beyond the €500k.
Because of the indirect nature of the State's control over the banks, I guess.I know what the purpose is but why have it? Why not just say the job pays 500k and leave it there to see who wants it. Why place a 'cap' on it apart from playing to the media? Especially when the banks are completely ignoring it.
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