IWC Boss Steve Beynon Salary In Private Eye

One of our favourite organs, Private Eye, dropped onto the door mat once again this week.

Steve Beynon Makes It Into Private EyeLo and behold, the Isle of Wight features, not for the first time (but after what seems like a very long break), in the Rotten Boroughs section.

This time chief executive Steve Beynon was the target for Eye reporters.

You may have read about Mr Beynon’s decision earlier in the year to reject a scheduled pay rise.

As the Eye explains, the pay rise would have increased his salary from £150,000 to £157,500.

(Not mentioned by the Eye is that by choosing to forgo the increase, Steve now avoids the £150,000 threshold for wide publishing of his salary – Smart).

However, the GMB have pointed out that when add on pension benefits, his 2009/10 package rose to a whopping £183,937!

Mind you, that’s still below the Island’s PFI Programme Director who enjoys a package of £185,405.

You can sleep well in your beds though, as Steve Beynon told the Vectis Radio listeners this week, he did pay his own way when he went to a conference. A fine and equitable balance surely?

Image: Klynslis under CC BY 2.0