Sunday, 9 January 2011

If he wants a pay packet of £7 million, then he should work for the private sector

Public sector employee, Stephen Hester -  the chief executive of Royal Bank of Scotland - will pick up £6.82 million this year.

His remuneration package will include:

  • A 2010 performance bonus of £2.5 million:
  • A £1.2m annual salary: 
  • £420,000 worth of pension contributions. (Thankfully, he is not part of the bank's regular pension scheme. )
Since he is likely to pick up something similar next year, I wonder whether it would be cheaper to fire him right now.

Come on, Mr. Cameron, this won't be the most difficult problem to cross your desk this week.


WF said...

Great photo.

Anonymous said...

RBS is sitting on a variety of assets (let's call them med bonds) which it cannot afford to do a mark-to-market valuation on.

These financial bodies are run for the (sole?) benefit of senior management; who will quietly step away when the mess can no longer be swept under the carpet.

Vodka drinker said...

So he is a hunter.....Steve "the hunter" Hestor

Anonymous said...

The time for remorse is over so pay up.