The government’s recent sale of its final stake in AIB has lifted the salary cap on executive pay, prompting expectations of substantial pay rises for senior executives. Analysts predict that AIB CEO Colin Hunt’s salary will be increased significantly, potentially nearing €1 million, to align with Bank of Ireland's pay structure. Currently, Hunt makes €500,000 plus bonuses, while Bank of Ireland's CEO earns €950,000. This move raises public concerns about executive pay competition and transparency in the banking sector.
It's hard for the general public to get their heads around pay packages above €500k and why a CEO has to be paid a million.
Bank of Ireland pays Myles O'Grady €950k and it pays CFO Mark Spain €600k. The CEO and CFO of AIB will go to those levels at least pretty quickly.
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