Civil servant to earn £3.2m per year - FFS! - Contractor UK Bulletin Board

Alf W

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#1

Civil servant to earn £3.2m per year - FFS!

22 June 2009, 12:35

FFS!

Royal Bank of Scotland is this week expected to approve a pay package worth up to £9.6m for its chief executive Stephen Hester.

The remuneration deal was agreed on Friday by RBS chairman Sir Philip Hampton and its leading shareholders.

One of the groups represented was UK Financial Investments, which manages the 70% stake in RBS held by taxpayers.

The package is made up of £1.2m in pay, up to £2m in non-cash bonuses and up to £6.4m in long-term incentives.

How out of touch is it possible for one body of people to be?

I bet the unions will be writing some strong letters to management about this one!

Guy Fawkes - "The last man to enter Parliament with honourable intentions."
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Menelaus

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#2

22 June 2009, 12:39

Only (ha!) £1.2m of it is in cash, the rest of it is in stock.

So - let me get this straight - the bloke parachuted in to a bank is going to get stock worth ~£8m at the bottom of the market and worth £oodles at the top?

FFS, as the interlocutor above suggests.
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BlackenedBiker

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#3

22 June 2009, 12:42

Is this performance related.

It better be or politicians will have a field day

Faster, faster, faster, until the thrill of speed overcomes the fear of death.

Patience is something you admire in the driver behind you and scorn in the one ahead.
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