The Sunday Tribune yesterday printed salary details of 66 public servants whose salary was more than the Taoiseach’s (€228,000 – 35% more than British Prime Minister David Cameron’s). At the top of the pile are the CEO duo at the NTMA (John Corrigan, €500,000+) and NAMA (Brendan McDonagh, €500,000 +).
Now managing one of the world’s largest property funds, a staff of 100 and an army of third party service providers, delivering a profit on a €40-50bn investment and dealing with a very uncertain environment and some very cute developers, none of this is going to be easy and if done well, a salary of around €500,000 might be a bargain. (the Coillte chief gets €343,000)
I can’t help but think though that if there is so much uncertainty with NAMA why a large part of the salary is not paid with a performance related bonus.