Most people in the world believe you get what you pay for. Furthermore, the dream of a meritocratic society remains alive and well in the corporate world. As the following chart shows, however, the US (and perhaps even the world) better hope that they don’t get what they are paying for…
As Bloomberg’s Niraj Shah notes, Mario Draghi was paid $518,264 last year, according to the ECB’s annual accounts released yesterday. That is more than twice as much as the $201,700 Janet Yellen is set to receive and the $235,400 earned by Haruhiko Kuroda. Mark Carney is paid the most of the major central bankers – earning a total of $1.46 million.
Of course, such comaprisons are absolutely idiotic when one considers the cost of living in various countries, something “1st tier” economists are completely unable to grasp when they compare wages (and minimum salaries) across nations.