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CEO pay drops for first time in 10 years

The pay of Australia’s chief executive officers has fallen for the first time in ten years, a new report shows.

The Hay Group report shows annual remuneration of our CEOs, including fixed pay and incentives declined by 6.8 percent in the 12 months to May, a sign of difficult times.

According to Hay Group head of executive reward consulting Trevor Warden, there is a strong link between reward for CEOs and company performance.

“Performance-based pay is a reality in difficult times and what goes up can also come down.”

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