Former Telecom boss Paul Reynolds pocketed more than $12 million in cash and shares during his final year with the company.

Base pay for top executives has risen nearly 10 per cent in the past year but bonuses and incentives have come down dramatically.

Wellingtonians are earning tens of thousands of dollars more than Aucklanders in most professions - but highly paid Queen City bankers are skewing the trend.

Economists are right when they say that people respond to incentives, and teachers are no different, but the responses aren't always the ones we'd want.