Pay rises for execs surge past inflation

Senior executives at some of the country’s largest listed companies enjoyed average pay rises more than double the rate of inflation over the past year as most of their employees were hit with real wage cuts, according to a new report.

The Governance Institute’s annual board and executive remuneration report, released on Wednesday, found managing directors at ASX companies increased their fixed salaries by an average 14 per cent last year and CEO salaries rose an average 15 per cent.