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Topic: Ryanair Boss Underpaid
Username: Quokkas
Posted 2012-10-02 22:54:16 and read 6749 times.

It is hard at the top.

Poor Michael O'Leary, boss of Ryanair, believes that he is "the most underpaid and under-appreciated airline boss in Europe".

Despite being paid about 20 times more than his average employee he feels entitled to more, claiming that he does 50 times as much work.

And it seems that he does have a point. "I was paid €1.2m last year for carrying 80 million passengers. Aer Lingus's boss [Christoph Mueller] got €1.3m for carrying 9 million passengers," he is reported as saying.

Worse even, he complained that when he flies with his family on holidays he gets slugged with charges imposed by his own airline. "Of course I fly Ryanair, but it costs me a fortune in excess baggage," he quipped. Perhaps he needs to stop "crawling over broken glass to get a cheap fare" or cut down on the suitcases.

Love him or hate him, he does have a sense of humour and knows how to keep himself and Ryanair in the spotlight.

Topic: RE: Ryanair Boss Underpaid
Username: pesit4a
Posted 2012-10-02 23:01:39 and read 6721 times.

Interestingly, Saint Michael the 1st fails to mention the deal he struck with Tony Ryan, founder of Ryanair, when he agreed to run the business!

It stipulates that he is to receive 20% of Ryanair's annual profits (Michael believed at the time that the airline would never make money - and such a deal was seen as a vital incentive!)

So, last year that would have netted Michael a cool 100 million euro. However, the deal was amended some years back to I believe, 10% of FR's annual profit. Still, how bad at a 50 million bonus, eh?

 

Topic: RE: Ryanair Boss Underpaid
Username: blueflyer
Posted 2012-10-03 00:16:53 and read 6549 times.

At his level, you are paid what you can negotiate, not what you are worth, so if he is underpaid, he needs to look no further than the nearest mirror to find out who to blame.

As for under-appreciated, there's no doubt about that. I think the man has very few, if any, peers in the world of executives skilled in the art of driving so much free publicity for their products from naive journalists and gullible bloggers. Like Ryanair or not (I don't), I don't believe he is justly recognized for that.

Topic: RE: Ryanair Boss Underpaid
Username: EagleBoy
Posted 2012-10-03 00:24:24 and read 6523 times.

Quoting Quokkas (Thread starter):
Worse even, he complained that when he flies with his family on holidays he gets slugged with charges imposed by his own airline. "Of course I fly Ryanair, but it costs me a fortune in excess baggage," he quipped.

Well he does blame his wife for this problem.......says he can manage with 1 bag.


As for being 'underpaid' direct salary is only a portion of his total renumeration. He is FR's largest shareholder and gets cut of annual profits.

Topic: RE: Ryanair Boss Underpaid
Username: tdscanuck
Posted 2012-10-03 08:39:21 and read 5681 times.

Quoting pesit4a (Reply 1):
It stipulates that he is to receive 20% of Ryanair's annual profits (Michael believed at the time that the airline would never make money - and such a deal was seen as a vital incentive!)

So, last year that would have netted Michael a cool 100 million euro. However, the deal was amended some years back to I believe, 10% of FR's annual profit. Still, how bad at a 50 million bonus, eh?

I think it was originally 25%, but it was cut off when Ryanair went public. So his salary is not, in any way, representative of what he actually made by working for Ryanair.

Tom.

Topic: RE: Ryanair Boss Underpaid
Username: AirframeAS
Posted 2012-10-03 09:15:33 and read 5575 times.

Quoting Quokkas (Thread starter):
"the most underpaid and under-appreciated airline boss

Golly, gee..... I wonder why! He should look at the mirror every once in awhile to find out why.

Topic: RE: Ryanair Boss Underpaid
Username: jfk777
Posted 2012-10-03 11:25:51 and read 5307 times.

Quoting Quokkas (Thread starter):
Poor Michael O'Leary, boss of Ryanair, believes that he is "the most underpaid and under-appreciated airline boss in Europe".

Despite being paid about 20 times more than his average employee he feels entitled to more, claiming that he does 50 times as much work.

And it seems that he does have a point. "I was paid €1.2m last year for carrying 80 million passengers. Aer Lingus's boss [Christoph Mueller] got €1.3m for carrying 9 million passengers," he is reported as saying.

IF how many passengers are carried is the "Standard" then Wille Walsh is massively underpaid since BA has so many 744 and long haul flights. But we know that many Club and First passengers pay thousands of dollars for their tickets while Ryannair is el Cheapo.

Topic: RE: Ryanair Boss Underpaid
Username: cschleic
Posted 2012-10-03 12:16:49 and read 5012 times.

Isn't MOL one of the wealthiest people in Ireland?

Topic: RE: Ryanair Boss Underpaid
Username: bohica
Posted 2012-10-03 12:16:55 and read 5012 times.

There's the new fee everyone has been waiting for: It's called pay the boss fee. A $25 fee added to every passenger's ticket so MOL feels he is being compensated fairly.  

Topic: RE: Ryanair Boss Underpaid
Username: YULWinterSkies
Posted 2012-10-03 12:22:05 and read 4924 times.

Quoting Quokkas (Thread starter):
Despite being paid about 20 times more than his average employee he feels entitled to more

This is a moot point: his actual salary can be whatever the board wants it to be, most of his income would always comes from the bonuses calculated on the company's profits, for as long as the company is profitable. And as other have rightfully pointed out, that is a lot of money. Way more than 20x the average employee salary!
I know he would argue that these bonuses are not guaranteed and would end if the company generates a loss... but well, in that unfortunate situation, I bet it would not be long until some of these "average employees" see their pay reduced to 0.
He can say whatever figure he likes, I'll interpret this as rhetorics, talk, blah-blah-blah, PR... I pay no attention to that kind of statements.

Quoting Quokkas (Thread starter):
claiming that he does 50 times as much work.

But now, this is insulting, and that is why I hate him.

Quoting Quokkas (Thread starter):
Love him or hate him, he does have a sense of humour and knows how to keep himself and Ryanair in the spotlight.

Oh without a doubt! He is smart, that is a sure thing!

Topic: RE: Ryanair Boss Underpaid
Username: Burkhard
Posted 2012-10-03 12:23:44 and read 4926 times.

Nobody on Earth is worth more than 100 000 € per year. He is good at his job no doubt, but every ramper works more than MoL.

Topic: RE: Ryanair Boss Underpaid
Username: mariner
Posted 2012-10-03 12:30:24 and read 4814 times.

Quoting Burkhard (Reply 10):
Nobody on Earth is worth more than 100 000 € per year. He is good at his job no doubt, but every ramper works more than MoL.

So any ramper can do what he has done - take a near bankrupt airline and turn it into one of the most successful airlines on the planet?

I know many on a.net believe they could run an airline better than the people actually doing it, but the reality is somewhat different.

mariner

Topic: RE: Ryanair Boss Underpaid
Username: B777LRF
Posted 2012-10-03 12:52:09 and read 4507 times.

I think the proposed 25EUR "MOL fee" is a tad extravagant. And, let's face it, even a paltry 10 cent fee would see the nauseating git netting a cool 8+ million extra per year, enough - one hopes - to shut him up  

Topic: RE: Ryanair Boss Underpaid
Username: 0NEWAIR0
Posted 2012-10-03 13:45:40 and read 3928 times.

Quoting Burkhard (Reply 10):
Nobody on Earth is worth more than 100 000 € per year. He is good at his job no doubt, but every ramper works more than MoL.

Both of these sentences are simply absurd.

Quoting mariner (Reply 11):
So any ramper can do what he has done - take a near bankrupt airline and turn it into one of the most successful airlines on the planet?

I know many on a.net believe they could run an airline better than the people actually doing it, but the reality is somewhat different.

  

Topic: RE: Ryanair Boss Underpaid
Username: EagleBoy
Posted 2012-10-03 15:34:51 and read 3012 times.

Quoting cschleic (Reply 7):
Isn't MOL one of the wealthiest people in Ireland?
Quoting YULWinterSkies (Reply 9):
Oh without a doubt! He is smart, that is a sure thing!
Quoting Burkhard (Reply 10):
Nobody on Earth is worth more than 100 000 € per year. He is good at his job no doubt, but every ramper works more than MoL.

I respectfully disagree.....while a ramper may well (physically) work harder than MoL (and other CEO's) they generally have not been so positive for the organisation.
I am a big believer in the "pay peanuts, get monkeys" argument.....HOWEVER I very strongly disagree with the rise of the 'automatic' bonus system that many companies have for middle and senior mgmt. If your company performs well this year...well then you did your job. If your company performs over the forecasts and/or a new innovative progem is introduced...then you get a bonus.

I work for a salary....and tooting my own horn here, I am damn good at it. Do I demand a bonus? No, because by doing MY job well I ensure my company will get repeat business. That's my bonus.

Topic: RE: Ryanair Boss Underpaid
Username: Blurto
Posted 2012-10-03 17:36:48 and read 2384 times.

Quoting EagleBoy (Reply 14):
I am a big believer in the "pay peanuts, get monkeys" argument

Pay a monkey a million bucks and it will still be a monkey though.

Topic: RE: Ryanair Boss Underpaid
Username: seabosdca
Posted 2012-10-03 19:27:45 and read 1932 times.

What a clown. There is no faster way for an executive to send morale (and thus operational performance) through the floor than to complain about his pay. I'm sure all those FAs and rampers are thrilled to be working for Ryanair right now.

It says very bad things about human nature that his publicity tactics work to build business for his airline.

Topic: RE: Ryanair Boss Underpaid
Username: DeltaMD90
Posted 2012-10-03 19:33:31 and read 1906 times.

Um, does anyone else think he's just trolling everyone for more attention?? I didn't believe he was serious for a second. Don't get me wrong, I think he'd love a raise, but I think this silliness is for publicity. I mean really, he made fun of his own airline...

got people talking... mission accomplished MOL

Topic: RE: Ryanair Boss Underpaid
Username: mariner
Posted 2012-10-03 20:12:03 and read 1753 times.

Quoting DeltaMD90 (Reply 17):
Um, does anyone else think he's just trolling everyone for more attention??

  

I can't believe that anyone - here - takes all this seriously. It's MOL - he's always like this, and yet it always works for him.

I admire him enormously.

mariner


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