Top earning execs listed
A new list reveals the dozens of public servants that earn over $1 million a year.
According to an analysis of public sector annual reports by The Australian Financial Review, at least 32 top public servants and government-owned corporation executives in Australia earned over $1 million in the previous year.
NBN Co's chief executive, Stephen Rue, maintained his status as Australia's highest-paid public servant with a $3 million package.
Not far behind was Paul Graham, the CEO of Australia Post, who took home $2.39 million in the same period.
The list of top earners is dominated by individuals from government business enterprises like NBN, Snowy Hydro, and Australia Post, where substantial bonuses are often added to already generous base salaries.
Their earnings exceed the salaries of both Prime Minister Anthony Albanese and Opposition Leader Peter Dutton.
Australia Post revealed a plan in its annual report to reduce the number of employees eligible for bonuses from 2500 to 100 in the coming year, following concerns raised by Finance Minister Katy Gallagher about the appropriateness of taxpayer-funded bonuses.
The public sector's highest-paid individuals, including executives from NBN and Future Fund, often benchmark their pay against private sector competitors. These salaries are frequently determined by the independent Remuneration Tribunal.
Australia's political leaders, by comparison, earn far less. After a 4 per cent pay increase in August, Mr Albanese's salary stands at $586,930, while Mr Dutton receives $417,623.
In 2021, the government encouraged departments and publicly-owned businesses to move away from performance bonus schemes, leading to a decrease in the number of public servants receiving bonuses in 2022.
However, the median bonus amount decreased as well.