30 Mar, 2011 @ 09:45
1 min read

Spanish executive salaries increase

DESPITE pay freezes and redundancies hitting the country hard, top managerial salaries have increased by 12 per cent in Spain.

Executives in the country’s highest-paid businesses – including Telefonica, BBVA and Santander – are now earning an average of 2.3 million euros more a year.

Santander bosses earn an eye watering 3.7m euros each, while Telefonica’s receive 2.4m euros.

The highest paid director was chairman of holiday bookings firm Amadeus, who scooped a 10 million euro bonus in addition to his normal salary.

Wendy Williams

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