From the recent CostMine U.S. Metal & Industrial Mineral Mine Salaries, Wages & Benefits 2013 Survey Results, here are some figures on Mining Company Executive compensation. The numbers are astounding, so hold on to your seat.
First the maximum total compensation in millions of US$ for the top folk at Major Mining Companies:
- Chairman =17.04
- CEO = 16.28
- President = 16.28
- Vice-President = 6.58
- CFO = 5.58
- COO = 5.37
Never could understand why the chairman gets so much more than the guy who makes it happen, namely the COO. But then I am not sure just what the difference is between a CEO and a COO.
At the other end of the scale, although not suffering, are the Junior Mining Companies executives average compensation. Here, again in millions of US$ are total compensation figures:
- Chairman =3.16
- CEO = 2.19
- President = 2.57
- Vice-President = 1.26
- CFO = 1.10
- COO = 1.54
Which prompt me to ask why the CFO gets so much. DO they really make the money or just make sure it is managed prudently?
Here in the interest of more detail is the way in which the average Chairman of a Mid-Tier Mining company gets compensated:
- Salary = 1.30
- Pension = 1.52
- Securities granted under options = 2.70
- Shares subject to resale restriction = 2.26
- Total compensation = 7.31
The percentages in each category re pretty much the same for the other compensation i have noted above. Not that it matters to most of us, for these numbers are akin to fantasy—we will never earn them, ponder how to spend them, or fret over the taxes paid.