NUJ bible The Journalist’s June/July issue includes a mightily revealing round-up of the salaries and bonuses of top media bosses – and the success levels of their companies that have helped earn them that cash.
The magazine’s main story on page 4 focuses on the Trinity Mirror chief executive Sly Bailey. The article points out that Ms Bailey earned £1.68 million last year – a 66 per cent pay rise – out of a total pay out to executive and non-executive directors of £3.77m. This at a time when the company froze pay and cut 1,700 jobs.
But it wasn’t just Trinity Mirror putting on the executive grave train. The Journalist also reveals how:
* Chief executive of Pearson, which owns the Financial Times, Dame Majorie Scardino enjoyed a 13 per cent pay rise, up to more than £2.3m. At least her bonus of £1.3m was backed up by a 13 per cent rise in per-tax profits for Pearson.
* European Newspaper Group Mecom’s chief executive David Montgomery was not so successfully, overseeing a 28 per cent fall in profits and cutting 850 jobs. Nevertheless he received a whopping 51 per cent pay increase, up to £874,000 and including a £290,000 bonus.
* Gavin O’Reilly, the chief executive of Independent News & Media, actually took a ten per cent pay cut – but still took home £760,000.
* And John McCann, chief executive of the ITV franchise holder and UTV Media, earned £450,000, although the company experienced a 12.5 per cent fall in profits.
Every felt you’re in the wrong job?
Source: The Journalist
State of Play: How many journalists could that lot pay for?