Qantas (QAN.AX) Chief Executive Alan Joyce’s finances are flying high. The company’s latest annual report reveals that Joyce’s remuneration has risen just over $1 million to hit $3.3 million this year.
The pay package is comprised of $2.1 million in base salary, $338,000 in deferred shares, and a $775,000 cash bonus. For investors, the reward comes as a mixed bag. Qantas put profit back in the black for 2013, but the $6 million net profit was a symbolic shift more than anything else. The company missed on several financial goals and, according to the Sydney Morning Herald, Qantas executives won’t see pay raises this coming year.
While CEO salaries are always a tough topic, long-term investors shouldn’t base one year’s raise on a company’s annual successes and failures. Alan Joyce waved off his $792,000 bonus in 2012 as his company continued to struggle, and this latest raise is exclusive of any long-term bonuses.
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Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.