The Wellcome Trust had the highest paid employee, with chief investment officer Nick Moakes taking home £4.64million including salary and bonuses last year – a £1.3million rise on the year before.
The health research charity, whose director Sir Jeremy Farrar earns £483,788, said that pay is linked to performance and by bringing their investment team in house they have been able to make billions more to fund their work.
As part of a wage bill of £105million, the Wellcome Trust paid more than 90 staff over £100,000, with seven employees in the investment team taking home more than £1million.
They’re really an investment fund which then gives away the profits. So they’ve the cost structure, at least in part, of an investment fund.
Actually, I’m not sure whether you can even give them money, let alone that they ever ask for it……
More than 270 charities are paying their bosses more than the Prime Minister, with the highest earner on £4.7m a year, an investigation by The Telegraph has found.
In the most comprehensive analysis ever made public, this newspaper has discovered that between them the organisations employ more than 2,500 staff members on salaries in excess of £100,000 a year.
As to the actual complaint here, it’s not really the CEOs that are the problem. It’s the thousands upon thousands below them who take very good wages – but not top ones – for doing pretty much nothing useful.