Kip Powick Posted April 11, 2011 Share Posted April 11, 2011 MONTREAL—Air Canada chief executive Calin Rovinescu’s total compensation jumped nearly 77 per cent to $4.6 million last year.The head of Canada’s largest airline earned $2.6 million in 2009 after becoming CEO on April 1, Air Canada said in its proxy circular to shareholders.Included in last year’s total were “milestone payments” totalling $150,000 for each quarter in 2010, as prescribed in his contract.If he remains on the job on March 31, 2012, Rovinescu will also be able to access a $5 million retention payment. That amount was included in his original 2009 contract.In addition to $3 million in cash Rovinescu obtained last year, he also received $1.4 million of Air Canada shares and $156,400 of retirement benefits.The total remuneration of the airline’s four top executives slightly increased in 2010 compared with the previous year. Link to comment Share on other sites More sharing options...
FireFox Posted April 12, 2011 Share Posted April 12, 2011 Couple that with the bonuses given to Managers lower down the food chain & it's bloody ridiculous.What ever happened to paying a Manager a decent salary...do a good job...and you get to remain gamefully employed.Talk about taking value out of a company. Link to comment Share on other sites More sharing options...
Guest Posted April 12, 2011 Share Posted April 12, 2011 Couple that with the bonuses given to Managers lower down the food chain & it's bloody ridiculous.What ever happened to paying a Manager a decent salary...do a good job...and you get to remain gamefully employed.Talk about taking value out of a company.It's been a while since I was a manager at AC, but the pay was brutal. I had to take a pay cut from a Lead Stat position to do the job. There was less base pay and no overtime pay... and overtime was a guarantee almost daily (ie. work extra shifts to cover vacations/sickness/travel, consistently work 10-11 hours on an 8 hour shift, come in on days off for meetings, etc...). I did it in 3 bases and it was the same story in all 3.Not sure if it's the same now, but back then, IAM members (and CAW i think) got a 10% bump when performing an acting management role. At times, I'd have to laugh at the fact that a Lead Stat on an upgrade was making in some cases $6/hr more than me to do the same job.I've been offered positions at AC since I left, but the pay for management position isn't even worth considering IMHO. Link to comment Share on other sites More sharing options...
FireFox Posted April 12, 2011 Share Posted April 12, 2011 It's been a while since I was a manager at AC, but the pay was brutal. I had to take a pay cut from a Lead Stat position to do the job. There was less base pay and no overtime pay... and overtime was a guarantee almost daily (ie. work extra shifts to cover vacations/sickness/travel, consistently work 10-11 hours on an 8 hour shift, come in on days off for meetings, etc...). I did it in 3 bases and it was the same story in all 3.Not sure if it's the same now, but back then, IAM members (and CAW i think) got a 10% bump when performing an acting management role. At times, I'd have to laugh at the fact that a Lead Stat on an upgrade was making in some cases $6/hr more than me to do the same job.I've been offered positions at AC since I left, but the pay for management position isn't even worth considering IMHO.Hello Serte,Things have changed quite a bit...Take the offer! It'd be nice to have a new CSM with Lead experience....hell, it'll be nice to have one with RAMP chops.Cheers. Link to comment Share on other sites More sharing options...
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