Reserve Bank of Australia
Remuneration
The remuneration packages for Reserve Bank staff are designed to attract and engage high-calibre employees. In line with the Bank's commitment to openness and transparency, the distribution of remuneration paid to Bank executives and other highly paid staff is set out in the tables below. The provision of this information is consistent with similar information provided by other Commonwealth agencies.
| Remuneration Band | Number | Reportable Salary[1] | Superannuation[2] |
Lump Sum [3] |
Total |
|---|---|---|---|---|---|
| $0 to $200,000 | 4 | 137,928 | 21,429 | – | 159,357 |
| $200,001 to $225,000 | 1 | 184,998 | 29,250 | – | 214,248 |
| $250,001 to $275,000 | 1 | 222,968 | 35,412 | 1,295 | 259,675 |
| $275,001 to $300,000 | 1 | 249,108 | 39,111 | 5,036 | 293,255 |
| $300,001 to $325,000 | 1 | 267,891 | 43,667 | 2,290 | 313,848 |
| $325,001 to $350,000 | 9 | 287,544 | 46,806 | 4,607 | 338,957 |
| $350,001 to $375,000 | 6 | 308,203 | 46,595 | 5,594 | 360,392 |
| $375,001 to $400,000 | 3 | 322,525 | 52,117 | 5,572 | 380,214 |
| $400,001 to $425,000 | 2 | 348,154 | 57,630 | 6,833 | 412,617 |
| $425,001 to $450,000 | 1 | 370,676 | 61,632 | 6,567 | 438,875 |
| $450,001 to $475,000 | 3 | 385,767 | 65,004 | 4,204 | 454,975 |
| $475,001 to $500,000 | 3 | 405,615 | 69,111 | 6,125 | 480,851 |
| $500,001 to $525,000 | 3 | 437,561 | 74,266 | 8,495 | 520,322 |
| $550,001 to $575,000 | 2 | 476,679 | 82,109 | 8,261 | 567,049 |
| $575,001 to $600,000 | 1 | 486,739 | 82,735 | 6,260 | 575,734 |
| $600,001 to $625,000 | 1 | 521,582 | 89,520 | 9,540 | 620,642 |
| $625,001 to $650,000 | 1 | 542,080 | 92,807 | 14,483 | 649,370 |
| $750,001 to $775,000 | 1 | 679,000 | 85,963 | – | 764,963 |
| $1,000,001 to $1,025,000 | 1 | 903,418 | 114,617 | – | 1,018,035 |
| Total | 45 | ||||
|
(a) Includes total remuneration earned in Australia during the reporting period
by executives at desk (or on parental or annual leave) as
at 30 June 2018; each row shows an average figure based on the number of
employees within each remuneration band based on
total remuneration earned on a cash basis; an executive for the purpose of this
table is anyone holding a position of Deputy Head of
Department (or equivalent) or above
Source: RBA |
|||||
| Remuneration Band | Number | Reportable Salary[1] | Superannuation[2] | Lump Sum [3] |
Total |
|---|---|---|---|---|---|
| $200,001 to $225,000 | 66 | 178,029 | 29,733 | 3,368 | 211,130 |
| $225,001 to $250,000 | 37 | 198,880 | 33,940 | 3,570 | 236,390 |
| $250,001 to $275,000 | 23 | 221,398 | 36,354 | 3,721 | 261,473 |
| $275,001 to $300,000 | 8 | 240,153 | 39,608 | 5,564 | 285,325 |
| $300,001 to $325,000 | 6 | 261,503 | 42,383 | 4,292 | 308,178 |
| Total | 140 | ||||
|
(a) Includes total remuneration earned in Australia during the reporting period
by other senior employees at desk (or on parental or
annual leave) as at 30 June 2018; each row shows an average figure based on the
number of employees within each remuneration
band based on total remuneration earned on a cash basis.
Source: RBA |
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Footnotes
The ‘reportable salary’ column is prepared on a cash basis using reportable salary, defined as the sum of gross payments (excluding lump sum payments); reportable fringe benefits amount; reportable employer superannuation contributions; and exempt foreign employment income, as reported in an individual’s payment summary. [1]
The ‘superannuation’ column is calculated as: the actual defined contribution amounts for individuals who are in a defined contribution scheme; and for individuals who are in a defined benefit scheme, an amount equal to 15.4 per cent of superannuable salary plus any employer productivity contributions. [2]
The ‘lump sum’ column is prepared on a cash basis using actual lump-sum performance-based payments paid to individuals during the reporting period. [3]