Friday, March 28, 2008

CIPD's Astronomical salary for Armstrong

Cool Half million
I’ve had a lot of feedback on my CIPD post – all of it confirming the ‘money-making machine’ comment. However, the most interesting titbit, was downright anger at Geoff Armstrong’s salary. In the year ending 30 June 2006 the ‘grand fromage’ was paid nearly half a million. This huge figure, paid out of member’s subscriptions and courses, dwarfs those of any other head of a charity (if that’s the right word). It includes a salary and bonus of £319,000, plus £171,000 worth of pension contributions. His total earnings represented an increase of £104,000 on the previous year.

Remember that this organization employs less than 300 people, although staff turnover is incredibly high; 61 left last year – 20% per annum (worse than last year)! Their total income from subscriptions, conferences, courses etc is £32.2 million with growth of only 3% (this doesn’t stand comfortably with a half million remuneration package). Each member personally pays Geoff about £4 per year.

I couldn’t find his 2007 salary as the download (not unsurprisingly) does “NOT include the statutory directors' report and financial statements”. The new face is Jackie Orme, who, we assume, won’t be short of a bob or two!

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