Here from the CostMine 2013 Survey Results Canadian Mine Salaries, Wages and Benefits are the 2012 incomes of some executives of Canadian junior mining companies. These numbers are not intended to inspire sympathy for those who run junior mining companies, regardless of the endless stream of bad news we read that such companies are on their knees, short of funds, going out of business, and in a generally bad shape. These are impressive incomes. So here a few:
- Maximum = $2,825 K
- Minimum = $40 K
- Average = $ 507 K
- Maximum = $166 K
- Minimum = $40 K
- Average = $ 119 K
- Maximum = $115 K
- Minimum = $110 K
- Average = $ 111 K
- Maximum = $1,354 K
- Minimum = $44 K
- Average = $ 238 K
- Maximum = $2,631 K
- Minimum = $166 K
- Average = $ 1,030 K
Obviously those junior mining companies doing well are paying their CEO and COO well. But it is more interesting to note that some poor CEOs, Presidents, and CFOs are getting a mere $40 to $44 K annual income. Those companies must be the ones we read about that are struggling.
Ignoring the maxima and minima, the averages are still pretty impressive–keep in mind these are the juniors, not the mid or majors. I find it interesting that the average COO gets almost twice as much as the average CEO. Probably they do more to make the company. As witness the minimum COO income of $166 K.
Of course these numbers are pretty hard to interpret if you consider that these are not salaries in the conventional sense that you and I think of. To illustrate here are the “incomes” of the maximum-paid CEO by category:
- Salary = $229 k
- Share Based Awards = $780 K
- Option-Based Awards = $2,920 K
- Non-Equity Incentives = $248 K
- Other Compensation = $500 K
No doubt this all arranged to incentivize the CEO and minimize taxes.
Not sure what one gets by way of $500,000 worth of “other compensation.” This pays for many country club memberships, opera subscriptions, fancy boats in fancier marinas, private jets, and private parties.
What a life! Think how many bicycles, electric and otherwise I could get for that! I would fly the world from one opera performance to another. And the private parties—only to be imagined.