Martin Bain takes 200K pay cut

[simon 1,744]

This isn't news - we've known this for a month (page 20):

http://home.rangersmedia.co.uk/accounts/2009.pdf

First I had heard it.

[LegendofCoop 17,447]

Is opinion changing on Mr. Bain?

Mine has, since Murray resigned. I've been impressed with Bain, can't think of anything he's done wrong since.

This!

[Tumshie 205]

If true it's a excellent gesture

[bombaybadboy08 15,660]

I'm impressed.

[MrSifter 181]

Monthly take home goes from £33,340 to £23,507.

A significant cut but I'm sure he leads an extremely lavish life for an ex-catering hand.

[bluepeter 5,627]

Monthly take home goes from £33,340 to £23,507.

A significant cut but I'm sure he leads an extremely lavish life for an ex-catering hand.

Jealousy is a pretty ugly emotion, mate.

His job is at the level that pays that kind of salary, what do you expect him to do? Say "Oh well, I used to work in catering so I'll do my new job for that wage?

I used to work in the Co-op part time, there's no way I'd do my current job for the money I earned then.

Bottom line, he's taken a £200k pay cut, or £10k per month take home pay.

[MrSifter 181]

Monthly take home goes from £33,340 to £23,507.

A significant cut but I'm sure he leads an extremely lavish life for an ex-catering hand.

Jealousy is a pretty ugly emotion, mate.

His job is at the level that pays that kind of salary, what do you expect him to do? Say "Oh well, I used to work in catering so I'll do my new job for that wage?

I used to work in the Co-op part time, there's no way I'd do my current job for the money I earned then.

Bottom line, he's taken a £200k pay cut, or £10k per month take home pay.

I do not feel one ounce of jealousy towards him. I think his wage is disproportionate to what Chief Execs of other, larger businesses get. I also think he is failing in generating new and increased revenue streams for the club, something all Chief Execs are judged on.

Can we expect the CEO to perform well when just a few years ago he was running the catering?

[outlaw69uk 123]

he still gets paid to much.its a pitty he doesnt take leaf out of walter,allys book by working with out a contract till the club sorts its self out

you really dont grasp the working without contract concept mate (as dont many more). SMith is getting paid, he is just not tied down long term, and, the club dont need to pay to remove him/end contract.

What Bain has done here is very very good, as a few have said. Look at it this way, as it could be the thinking. He has taken a pay cut thats pretty close to the equivelant of Boyds wage. Could have been done for that reason, no need to sell a player!

And again agreeing with some, since Murray went, Bain appears to be a totally different person! Competent, supportive, defensive of the club? Very odd, but, all I keep hearing is positive things about the man, and, THIS is pretty much the icing on the cake

[bluepeter 5,627]

I do not feel one ounce of jealousy towards him.

I do

He gets to be Chief Executive of the club I love, and gets paid a shitload of money to do it.

I think his wage is disproportionate to what Chief Execs of other, larger businesses get. I also think he is failing in generating new and increased revenue streams for the club, something all Chief Execs are judged on.

Can we expect the CEO to perform well when just a few years ago he was running the catering?

Which similar sized businesses have Chief Execs on less money than Bain?

[outlaw69uk 123]

Monthly take home goes from £33,340 to £23,507.

A significant cut but I'm sure he leads an extremely lavish life for an ex-catering hand.

Jealousy is a pretty ugly emotion, mate.

His job is at the level that pays that kind of salary, what do you expect him to do? Say "Oh well, I used to work in catering so I'll do my new job for that wage?

I used to work in the Co-op part time, there's no way I'd do my current job for the money I earned then.

Bottom line, he's taken a £200k pay cut, or £10k per month take home pay.

I do not feel one ounce of jealousy towards him. I think his wage is disproportionate to what Chief Execs of other, larger businesses get. I also think he is failing in generating new and increased revenue streams for the club, something all Chief Execs are judged on.

Can we expect the CEO to perform well when just a few years ago he was running the catering?

Have to disagree with that mate

The average combined pay and benefits of the FTSE 100 chief executives was recorded at £1.62m in 2005, compared with £1.51 million the year before.

Performance-related pay made up a large part of the chief executives' remuneration, but even their average basic pay rise of 6.9 per cent (up from £627,000 a year earlier to £633,000) outstripped the rest of the UK workforce, said Labour Research.

link

They earn a lot more than him (may be old, but, do you see their wages going DOWN?

[MrSifter 181]

Which similar sized businesses have Chief Execs on less money than Bain?

His basic wage is 1.18% of turnover.

[MrSifter 181]

They earn a lot more than him (may be old, but, do you see their wages going DOWN?

They earn a lot more than him relative to turnover? My previous company had a turnover of $1,684M USD. They continue to grow at a rate of 10% per year and the Chief Exec, ex-McKinsey management consultant, has been in the job for 15 years and earns a lot less than 1.2% of turnover.

Not for the first time with Rangers, we pay mediocre staff far too much money.

[outlaw69uk 123]

They earn a lot more than him (may be old, but, do you see their wages going DOWN?

They earn a lot more than him relative to turnover? My previous company had a turnover of $1,684M USD. They continue to grow at a rate of 10% per year and the Chief Exec, ex-McKinsey management consultant, has been in the job for 15 years and earns a lot less than 1.2% of turnover.

Not for the first time with Rangers, we pay mediocre staff far too much money.

Does it not depend on how the package is built? Execs tend to be paid based on a fixed salary, but, the majority of the wage is made up of bonus, which is performance related (and based on turnover). They are also based on share performance and dividends. Not as straightforward as just saying he earns "x" and thats it though.

Anyway, everyone working on football doesnt live in the real world where it comes to salaries anyway, and, nothing takes away what he has done, which, is a good thing! I mean, would YOU turn it down if offered a wage like that? Course not, nobody would haha.

[MrSifter 181]

Does it not depend on how the package is built? Execs tend to be paid based on a fixed salary, but, the majority of the wage is made up of bonus, which is performance related (and based on turnover). They are also based on share performance and dividends. Not as straightforward as just saying he earns "x" and thats it though.

Anyway, everyone working on football doesnt live in the real world where it comes to salaries anyway, and, nothing takes away what he has done, which, is a good thing! I mean, would YOU turn it down if offered a wage like that? Course not, nobody would haha.

Firstly I should say ongoing congratulations to him on getting the job and negotiating such a handsome package.

Secondly I'd say I've worked in the corporate environment for a number of years and know how CEO's packages are contructed. I think Bain has secured a package that is not refelctive of his experience and how well his company is performing with him as CEO.

Looking through all the firms I've worked for, including bonus, none of the CEOs have achieved 1.18% of turnover as part of their package. All the companies involved have posted profit in every year of the past ten.

Perhaps that is why we are a mess, we think economics and business rules do not apply to us.

[boss 1,941]

I do not feel one ounce of jealousy towards him. I think his wage is disproportionate to what Chief Execs of other, larger businesses get. I also think he is failing in generating new and increased revenue streams for the club, something all Chief Execs are judged on.

Can we expect the CEO to perform well when just a few years ago he was running the catering?

Liewell earned £670,799 in the same period.

[MrSifter 181]

Liewell earned £670,799 in the same period.

I am unclear as to the point you are making.

[boss 1,941]

I am unclear as to the point you are making.

It's really not that hard to understand. Liewell earned £200,000 more than Bain.

What is the average deal for chief execs of major UK football clubs? And where does Bain's wage fit into that marketplace?

[MrSifter 181]

What is the average deal for chief execs of major UK football clubs? And where does Bain's wage fit into that marketplace?

I've no idea of Timmy's figures but am led to believe they post a profit and generate more income than us. This was done under that rhat's stewardship.

Perhaps that is why we are a mess, we think economics and business rules do not apply to us.

[outlaw69uk 123]

Does it not depend on how the package is built? Execs tend to be paid based on a fixed salary, but, the majority of the wage is made up of bonus, which is performance related (and based on turnover). They are also based on share performance and dividends. Not as straightforward as just saying he earns "x" and thats it though.

Anyway, everyone working on football doesnt live in the real world where it comes to salaries anyway, and, nothing takes away what he has done, which, is a good thing! I mean, would YOU turn it down if offered a wage like that? Course not, nobody would haha.

Firstly I should say ongoing congratulations to him on getting the job and negotiating such a handsome package.

Secondly I'd say I've worked in the corporate environment for a number of years and know how CEO's packages are contructed. I think Bain has secured a package that is not refelctive of his experience and how well his company is performing with him as CEO.

Looking through all the firms I've worked for, including bonus, none of the CEOs have achieved 1.18% of turnover as part of their package. All the companies involved have posted profit in every year of the past ten.

Perhaps that is why we are a mess, we think economics and business rules do not apply to us.

Are they in football? Normall rules DONT apply mate. Right across the board in this game.

Am also in a corporate environment fella, but, how much they earn really doesnt bother me, they earn more than they should, in general haha.

[outlaw69uk 123]

I am unclear as to the point you are making.

It's really not that hard to understand. Liewell earned £200,000 more than Bain.

What is the average deal for chief execs of major UK football clubs? And where does Bain's wage fit into that marketplace?

Perhaps then, as he pointed out, Bains IS disproportionate, he earns less

[MrSifter 181]

Are they in football? Normall rules DONT apply mate. Right across the board in this game.

Am also in a corporate environment fella, but, how much they earn really doesnt bother me, they earn more than they should, in general haha.

Normal business rules do apply in football. Supporters choose to believe they do not. This mentality is doubly worse in the minds of the typical state dependent Scot.

Boss mentioned the mhanks CEO as a comparable. I just googled him and he joined them in November 2003. Have a look at how they've turned around under his stewardship.

www.footballeconomy.com/stats2/sco_celtic.htm

[kyle 3]

good gesture didnt realise he was on so much to begin with though,jammy bass

[outlaw69uk 123]

Are they in football? Normall rules DONT apply mate. Right across the board in this game.

Am also in a corporate environment fella, but, how much they earn really doesnt bother me, they earn more than they should, in general haha.

Normal business rules do apply in football. Supporters choose to believe they do not. This mentality is doubly worse in the minds of the typical state dependent Scot.

Boss mentioned the mhanks CEO as a comparable. I just googled him and he joined them in November 2003. Have a look at how they've turned around under his stewardship.

www.footballeconomy.com/stats2/sco_celtic.htm

Um? How would you define a state dependant Scot, and, why is that relevant?

If normal business rules apply, then, why are the salaries paid i football completely unrealistic, and out of synch with the "real" world? If you take Rangers, the salaries paid out would be more akin to a company with at least 100 times the number of employess, in fact, I would think far more! £15k a week? In the real world, thats the equivelant of 52 employees in a call centres ANNUAL wages over the piece.

[MrSifter 181]

Um? How would you define a state dependant Scot, and, why is that relevant?

If normal business rules apply, then, why are the salaries paid i football completely unrealistic, and out of synch with the "real" world? If you take Rangers, the salaries paid out would be more akin to a company with at least 100 times the number of employess, in fact, I would think far more! £15k a week? In the real world, thats the equivelant of 52 employees in a call centres ANNUAL wages over the piece.

Scotland has too many people dependent on the State either for employment or for benefits. It is relevant because most have little or no knowledge of how business works and the grim reality of it.

I do not accept that football is immune from the financial realities that other businesses face. We are on our knees because we have thought for too long we are an exception. The only way forward for the Rangers is to be run as a self sufficient business and one that worst case breaks even each season - and Bain's wage, given it is a significant proportion of turnover, is a part of that.

[boss 1,941]

Boss mentioned the mhanks CEO as a comparable. I just googled him and he joined them in November 2003. Have a look at how they've turned around under his stewardship.

www.footballeconomy.com/stats2/sco_celtic.htm

Ah, statistics. Doncha just love 'em. Tell me what you want to prove and I'll prove it for you with some damn fine statistics.

- Since Liewell was appointed in November 2003 he has received £2.44m from them. In the same period, Bain has received an almost identical £2.47m from us.

- If you stick to the years on the link you provided (to 2008) their retained loss was £2.4m and we made a retained profit of £7.7m. --> Bain clearly ahead.

- If you add in 2009, they have shown a retained loss of £0.3m and we have shown a retained loss of £4.9m. --> Liewell ahead (But Kaunas apart, the difference would have been £5m in Bain's favour.)

- If you add in expected results for 2010, the swing will again be in Bain's favour. --> Bain likely ahead again.

What does all this prove? Bain's remuneration is in line with the market rate for the job and it cannot be shown that he is overpaid by comparing his remuneration to Liewell.