REPORT SHOWS SHIFT IN FIRMS' BONUS STANCE - Executive pay has been a massive talking point in recent years - with bankers' pay especially in the spotlight as shareholders lost fortunes, and the taxpayer bailed the banks out.
Last year 63% of companies listed on the Irish Stock Exchange saw no increase in directors' pay and there was a 66% drop in the average bonus paid to a chief executive.
According to human resources firm Hewitt's report on Irish directors' pay, the median bonus paid to a chief executive was 19% of salary last year, down from 60% in 2008. Total remuneration for a finance director was €715,000, down 31% from €1m in 2008.
Kieran Barry, Hewitt's chief executive, said total remuneration covered basic pay, pension contributions and long-term share options.
He argued that the trend from its latest report was 'very positive', as the previous report for 2008 indicated that pay was generous, and a 'pay for performance' culture was not central in Irish companies.
Mr Barry said there now seemed to be a more realistic assessment of performance, and bonuses seemed to be becoming more open to scrutiny.
Asked about the Finance Bill, he welcomed moves to attract top executives, saying it would stimulate economic activity.
