Executive pay

Last weekend, Senate member Roger van Boxtel criticised trade union FNV’s new central wage demand of 900 euro (which would narrow the gap between low and high incomes), arguing that it’s «really too much». Van Boxtel himself, in his capacity as ceo of the Menzis health insurance company, got a 5,000 euro raise last year, resulting in a remuneration of 389,000 euros.

Over the past year and a half, high-paid executives of (semi) public organisations have been somewhat sheltered from public scrutiny. Because of the introduction of a new norm, the government has suspended its annual publication on excessive pay at (semi) public institutions.

Google Trends data show that there was a peak in searches for «top incomes» in January 2013, when the latest report (on 2011 incomes) was published. Interest in the topic remained, but hasn’t reached the January 2013 level since.

In the meantime, some efforts have been made to analyse data from the annual reports of the institutions themselves. Abvakabo FNV has published its annual Actiz 50, documenting excessive pay at health care institutions. And newspaper de Volkskrant has published an analysis of 119 (semi) public institutions.

The Volkskrant data contain about 40 board members receiving remunerations in excess of the current norm for newly hired executives (230,000 euros). And their list is far from complete: many of the highest-paying institutions in 2011 aren’t even included. Among them Roger van Boxtel’s employer, Menzis.

In short, we won’t have the complete picture until the government publishes a new report, perhaps in a few months.

Tags: