I thought AIB was fully nationalised? They have taken billions in emergency funding and have foisted a grave debt upon generations to come. Who do they think they are, asking this? If they have money to spare it should go towards easing the burden on all of us!
Even a cap at 500K makes me sick. If they were to repay their debt to us and wing it on their own they could pay their CEO whatever they liked, but not while we are their crutch.
What bothers me is why Noonan didn’t break his shite laughing in their faces when they came to him with the ludicrous proposal.

Would performance related pay work?

He should be paid in one 4 all vouchers.

Why not just shut this useless money pit down?

As a current AIB customer the idea of such a large salary being paid out to a bank that has failed it’s customers and country appalling. If the new CEO is paid above the current cap, which in my opinion is still outrageously high I will vote with my feet and close my account and move banks.

Noonan, I hope the AIB board is now considering their position… putting such a stupid request in front of the minister of finance at this time. Get creative or get lost.

Frank you have a point, pay peanuts get a monkey. But these guys have been well paid before and drove the banks into the ground. How do you suggest AIB/taxpayer protect against the excuse that the failure is not his fault but due to the global circumstances or government regulation. And finally walk off into the sunset with his tidy millions.

And yet again I find myself asking: are we to believe they got the ‘best candidates’ when there was no limit to the potential salary? Last time I looked the former ‘best candidates’ for the CEO of AIB had a very significant role in destroying this country. Half a million p.a. is about 9,600 a week, or 30 times the minimum wage – and that ISN”T ENOUGH. Maybe if we appointed people for whom unimaginable avarice wasn’t the prime motivation in their life we wouldn’t be where we are today.

Minister Noonan the Irish People are watching this space intensely. Burden sharing for all , a New Ireland remember and never forget !

Just watch them row back on this one gutless

Pardon my ignorance, Frank, but aren’t banks the world over errrrm, ….. f**ked? I think you’ll find they are, and are being bailed out left right and centre by joe public. Following on from that, how you say that any of the upper echelons of these banks have performed awell and are worthy of their salaries / bonuses etc? Why is running a bank different from running any other business?

why don’t they pay him €200,000 basic plus bonus, let’s say 5% of profits. If he makes good progress he may be up for a BIG pay out. If he won’t – he won’t…

Given the state of the banking sector, perhaps it’s time the applicants for this job realised that all wages and salaries are on at very least a freeze and expected work is going up. In other words, like what the rest of us are experiencing. If the companies hiring are effectively in receivership, you can’t expect millions in salary. Infect, I’m sure there are ailing businesses across the country that would love to have cash magically appear so they can hire the expertise they need to help them trade out of their problems but, sadly, haven’t that luxury. The distances bank boards are still removed from the real world are breathtaking. There’s still no concept of dealing with the mess they’ve made themselves.

i will take out my placard again, if anyone gets paid this hefty salary.
many are suffering…young people emigrating…people committing suicide…others losing jobs, homes, partners and our country is on its knees.
i dont actually know what i would do if this happened. i like to think i could…can i..can we???

Bankers destroyed Capitalism & now want a pay rise to fix it. Get real you overpaid, deluded,self-important fools. You run a bank, it’s not brain surgery. Allow this Noonan & you can hang your head in shame.

yeah agree with Ian above. Why dont they tell him and his cronies to p**s off. Half the north island of japan has been decimated and I am sure there are loads of bankers looking for work. Bring a Japanese guy, bet they would do it for 200k. What a witless bunch we have “in charge” of this hell hole

are these idiots for real, 10 grand a week to run an organisation that should have been let go to the wall, if this was any other kind of business it would have been gone by now along with the other useless feckers who were(and still are in many cases) running our financial instatutions, dont we the tax payer have a say in this? after all its our money that is getting you out of the mire you created, if this is accepted then the people should stand up to this lilly livered goverment and demand a 98% tax on all saleries over 250 grand,with no loopholes or pension pots .

Your apparent intellect is staggering. Best of luck.

just unbelievable really cant believe this we are the laughing stock of the world

2000!! but what’s another "0"?

give him 50k a year and over time and if he complains …..tell him he’s lucky enough to have a job

Yes, we need the talent of an experienced CEO for AIB but as for paying him/her a very large guaranteed salary without proof of results…stoopid!

Salary should remain at the cap plus a bonus related tightly to performance and requiring sanction of the minister. There should be an option not to pay any bonus if there is no improvement in the banks position.
There can’t be too many bank CEO positions out there and we, the shareholders need to hold onto what leverage we have.

no no no no no no…who actually needs. 20000 per day…cop on

I think you all have really said it as I feel

Donal,
I hope they don’t row back on that one either, gutless (tip of the hat to Frank).

This is the sort of greed that has us where we are in the first place. Should be shot down without consideration.

You pay peanuts and you get monkeys, you pay truffles and you get pigs! It’s easy, cheaper is better. A bank holds your cash and loans it out for a modest fee, how hard can it be to oversee that??!!!

Many of the commentators here perhaps need to consider the wider international context in which our banks exist. Not every bank in the world is nationalized as ours are, and not every bank is under political pressure to impose pay restrictions on its executives. All these banks compete with ours for talented execs. Our society insists, like in the comments above, on bankers feeling our pain because we came to their aid through nationalization. However nationalization also means we, the people, have a stake in the success or continued failure of these banks. They quicker they get back on their feet, the quicker we do too. So long as "we" own the banks, we should be concerned with AIB struggling to attract worthwhile applicants. If salaries must be capped, they must be so capped in a way that don’t immediately exclude all but the most desperate contenders. As earlier commentators suggested, paying truffles attracts pigs, paying peanuts attracts monkeys… We seemingly have capped at the peanut end of the spectrum, and there are already enough of those in charge of our money without complicity installing another. It’s in our collective interest that a balance is struck.

Give them an inch and they’ll surely take a mile …. the morale of our nation shall plumb to new depths if this request isnt thrown out !!! It seems OUR Bankers are still as contemptous and deluded as ever before ….. greed is still rife !!

Irish Pride – I’m cringing at your attempted come-backs. Do yourself a favour, give up posting on this site, the only thing you’re doing is embarrassing yourself.

@irish pride – perhaps a name change to "tw@t" should be considered. Fortunately it is you who do not speak for the people!

It’s quite simple – you want AIB to return to profitability & get the Bank suitable for private sector investment & therefore repay the Pension Reserve Fund you need to pay someone with a banking track record capable of making this happen. Sorry folks, you won’t get someone suitable for the money you want. You settle for someone less capable & the government and therefore the taxpayer will be stuck with AIB for a long time to come. I await thumbs down aplenty.

If the intention is for AIB to become a viable commercial bank once again then I see the logic in needing to pay a potential CEO more than the current cap. They have to operate in a market where other banks can easily offer a potential CEO millions, why would a candidate that for the top job in AIB take it when they could get paid a lot more in a bank elsewhere? There not going to do it out of the goodness of their hearts, they are serious people who do a stressful and difficult job.

He,he Ireland is great ! )))

FAS Work Placement Programme? :P

@irishpride …. still a moron I see

Frank is correct but there should be a new stipulation.. Performance related bonus, pay him 1 mill per annum and if he gets the bank rocking and rolling he/she deserves everything they get… Do not forget, soccer players with the IQ of a house fly earn on average 2.5 mill yearly, that’s without sponsorship deals.