Quokkas
Topic Author
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Ryanair Boss Underpaid

Wed Oct 03, 2012 5:54 am

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.
“Not to laugh, not to cry, not to hate, but understand.” Spinoza
 
pesit4a
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 6:01 am

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?

 
You just can't keep a good man down!
 
blueflyer
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:16 am

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.
Recep Tayyip Erdoğan has no clothes.
 
Eagleboy
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:24 am

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.
 
tdscanuck
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 3:39 pm

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.
 
AirframeAS
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 4:15 pm

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.
A Safe Flight Begins With Quality Maintenance On The Ground.
 
jfk777
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 6:25 pm

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.
 
cschleic
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:16 pm

Isn't MOL one of the wealthiest people in Ireland?
 
bohica
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:16 pm

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.  
 
YULWinterSkies
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:22 pm

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!
When I doubt... go running!
 
Burkhard
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:23 pm

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.
 
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mariner
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:30 pm

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
aeternum nauta
 
B777LRF
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 7:52 pm

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  
From receips and radials over straight pipes to big fans - been there, done that, got the hearing defects to prove
 
0newair0
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 8:45 pm

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.

  
"The future belongs to those who believe in the beauty of their dreams."
 
Eagleboy
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RE: Ryanair Boss Underpaid

Wed Oct 03, 2012 10:34 pm

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.
 
Blurto
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RE: Ryanair Boss Underpaid

Thu Oct 04, 2012 12:36 am

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.
 
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seabosdca
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RE: Ryanair Boss Underpaid

Thu Oct 04, 2012 2:27 am

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.
 
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DeltaMD90
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RE: Ryanair Boss Underpaid

Thu Oct 04, 2012 2:33 am

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
Ironically I have never flown a Delta MD-90 :)
 
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mariner
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RE: Ryanair Boss Underpaid

Thu Oct 04, 2012 3:12 am

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
aeternum nauta