Report: London 2012 wages revealed

Locog has published its 2010-2011 financial report, revealing London 2012 chief executive Paul Deighton earned £700,000 last year including a £220,000 bonus.

Report: London 2012 wages revealed
Report: London 2012 wages revealed

Deighton's basic salary was £479,873 for the year from 2010 to 2011, excluding a performance bonus of £220,125, which he plans to donate to charity as he did in 2010.

Although 1,000 other Olympic employees received a two per cent pay rise across the board, Deighton’s basic pay saw no increase from last year.

Locog remuneration chairman Sir Robin Wales said Deighton's fixed salary didn’t reflect his performance but was considered "in the context of an external market characterised by executive pay restraint".

According to the report, £500,000 has been held back as half of a possible £1m bonus to be paid to the Locog CEO upon successful completion of the Games. Deighton said all of that bonus would go to charity as well.

London 2012 chairman Sebastian Coe earned £357,000, also no increase in basic salary.

Deputy chair Keith Mills was paid £50,000 and other directors, including the Princess Royal, are paid £1,000 for each board meeting they attend.

How do these salaries compare to the rest of the industry? Do you think they represent a fair amount for Locog’s work? To leave a comment and let us know your thoughts.

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