Australian CEOs still well-paid

BHP Billiton chief Marius Kloppers received a pay increase in the last year of over 50 per cent, which saw his remuneration rise to A$12 million.

Despite the economic downturn, Australia's chief executives continue to take massive pay rises, angering the country's peak union.

According to News Limited, of the 32 top 100 companies who reported profits last financial year, 18 had CEOs who took pay rises.

The largest increase was given to BHP Billiton chief Marius Kloppers, who received a 51 per cent pay increase, which saw his remuneration rise to A$12 million.

It was given despite the mining company recording a 21 per cent fall in share price, a 30 per cent drop in earnings and after 3,000 workers were sacked.

BHP defended the increase in Kloppers' pay packet, pointing to the group's ability to emerge from the global financial crisis with a solid credit rating.

Australian Council of Trade Unions secretary Jeff Lawrence says it is hard to understand how CEOs can pocket double-digit pay rises at a time when hundreds of thousands of workers have lost their jobs.

Australian Chamber of Commerce and Industry chief Peter Anderson says the salary increases are inappropriate in the current economic climate.

Former Telstra chief executive Sol Trujillo enjoyed a A$13.4 million total pay packet in 2008.

- AAP