
Big pay rises forecast for skilled workers
Salaries in high-demand industries are expected to rise by as much as $20,000 a year as New Zealand's talent pool dries up.
Salaries in high-demand industries are expected to rise by as much as $20,000 a year as New Zealand's talent pool dries up.
MPs will receive a 1.9 per cent pay increase, the Remuneration Authority confirmed this afternoon.
Real wages for many New Zealanders are falling, writes Peter Lyons. "It is becoming very hard to make ends meet for those at the bottom of the ladder who operate in the most competitive labour markets."
Low-wage workers look likely to get a small pay rise of under 3 per cent next April after the Government removed social factors from the criteria for setting the minimum wage.
Foreign Affairs chief executive John Allen has defended taking a $40,000 pay rise at a time of job cuts at his ministry, saying he did not believe it was a bad look.
Former Meridian Energy chief executive Tim Lusk was paid $1.37 million, including more than $800,000 in bonuses, during his last six months with the SOE.
Employment is a fearful responsibility, so the new youth rate is a temporary saving for employers to entice them to take a chance on a young person.
Workers' unions were quick to write off the Government's plan for a new, low, starting pay yesterday, while business leaders said it would help create jobs.
"Frankly, I am not convinced that our CEOs are that great. In fact, they seem decidedly mediocre but not paid that way," writes Deborah Hill Cone.
Fees for board chairs have jumped in the past year as workloads increase and finance company prosecutions show the importance of directors "getting it right".
An OECD report has revealed that tertiary study adds little to New Zealanders' earning power.
New Zealand Defence Force staff are in line for a $45 million pay rise - but rents for those living in defence accommodation will also be increasing.
The salary of Auckland Council chief executive Doug McKay has jumped from $675,000 to $768,750 in one year after an incentive bonus was rolled into his fixed pay.
Auckland Council chief executive Doug McKay pocketed $840,000 in the past year, making him one of the best paid public sector bosses in the country.