No banker deserves fifty times the income of a nurse
The scale of inequality in incomes is vast. Some people earning millions per year, others earning as low as €15,000. The huge divergences are unexplained by differentials in the value of work. These huge disparities result not just in differentials in living standards but also in the healthcare one can afford, the standard of education one can afford for one's children, the degree of influence and clout one can bring to bear on the political system and on society generally. Inequalities in income and wealth cause huge inequalities across all areas of society.
Some inequalities of income are explained on the basis of incentives to work harder, incentives to take risks, incentives to acquire higher qualifications and expertise, as well as the value of the contribution made to society.
But no banker deserves 50 times the income of a nurse, or 20 times the income of a Garda or teacher. No barrister or solicitor deserves the income of 20 times that of a nurse, Garda or teacher. No TV or radio presenter deserves high multiples of the income of people who make a substantial contribution to society.
Aside from the income levels we present here, huge fortunes are being made mainly from speculation in property. In the past few months a billion euro have changed hands on property in the Ballsbridge area of Dublin alone. And the tax on the huge profits made from such speculation has been halved from 40 per cent to 20 per cent.
Just over a year ago a group of medics and lawyers made a "killing" on property in Stillorgan. They did nothing other than to sit on a piece of property for a few years and then to cash in. They had bought the property for €32 million and sold it for €85 million, a profit of €53 million in four years, for doing nothing at all.
Our society is riven with unfairness. And it is not just in the distribution in income but the way in which we permit money to buy favour in health, education and power.
Emma Browne and Vincent Browne
earning more than €2,000,000
€2,700,000: Sean Fitzpatrick CEO Anglo-Irish Bank (retired last year and replaced by David Drumm; bonus included)
€2,000,000: Liam O'Mahony CEO Cement Roadstone Holdings (bonus included)
From €1 million to €2 million
€1,450,000: Michael Buckley CEO AIB (the current CEO is Eugene Sheehy; (bonus included)
€1,200,000: Tony O'Reilly CEO Independent News and Media (bonus included)
€1,154,000: Hugh Friel CEO Kerry Group (bonus included)
€1,000,000: David Went – CEO Irish Life & Permanent plc (bonus included)
From €500,000 to €1 million
€870,000: Average CEO salary with bonuses
€800,000: Michael O'Leary CEO Ryanair
€774,000: Michael Chadwick CEO Grafton Group (bonus included)
€707,000: Philip Nolan CEO Eircom
€687,000: Eamon Rothwell CEO Irish Ferries (bonus included)
€544,000: Dermot Mannion CEO Aer Lingus (bonus included)
From €250,000 to €500,000
€463,450: Gerry Ryan RTÉ television and radio presenter
€451,000: Average CEO salary
€400,000: Brendan Drumm CEO HSE (bonus included)
€385,180: J G Foley CEO Waterford Wedgewood
€378,700: Bernard Collins CEO VHI
€352,040: Padraig McManus CEO ESB (bonus included)
€346,000: John Hourican CEO Bord na Mona
€343,099: Pat Kenny RTÉ television and radio presenter
€329,227: Marian Finucane RTÉ radio presenter
€326,000: Donal Curtin CEO An Post
€323,000: Geraldine Kennedy editor of the Irish Times
€323,000: Meave Donovan Managing Director of the Irish Times
€300,000: David Gunning CEO Coillte (bonus included)
€296,000: Cathal Goan Director General RTÉ (bonus included)
€285,000: Gerry Walsh CEO Bord Gais (bonus included)
€274,005: Mary McAleese President
€270,618: Average salary of senior counsel barrister
€252,219: Bertie Ahern Taoiseach
€250,000: John Murray Chief Justice of the Supreme Court
From €200,000 to €250,000
€228,743: Joe Duffy RTÉ radio presenter
€224,234: John Lynch CEO CIE (bonus included)
€220,000: Supreme Court Judge
€216,835: Mary Harney Tanaiste
€205,000: High Court Judge
From €150,000 to €200,000
€199,044: Cabinet Minister
€186,096: Noel Conroy Garda Commissioner
€180,302: Secretary General in the Civil Service
€164,512: Average salary of solicitor who is an owner or partner
€150,000: Circuit Court Judge
From €100,000 to €150,000
€144,432: Miriam O'Callaghan RTÉ television presenter
€144,240: Deputy Secretary in the civil service
€138,246: Charlie Bird RTÉ chief news correspondent
€136,771: Minister of State
€131,398-€170,876: Basic State salary to consultants
€125,000: District Court Judge
€120,000: Barrister's average salary
€106,463-€121,919: Assistant Secretary in the civil service
From €50,000 to €100,000
€88,556: TD's salary
€94,712-€121,868: TCD Professor
€93,720: average salary of a junior counsel barrister
€91,326-€123,698: UCD Professor
€80,000-€150,000: Human Resources Director
€76,000-€101,000: Principal Officer in the civil service
€70,000-€100,000: Project Manager on a construction Site
€61,989: Senator's salary
€60,342: Fire Brigade's top salary without promotion
€60,000-€90,000: Construction site manager
€60,000-€80,000: Human Resources manager
€58,000-€80,330: Assistant principal in the civil service
€56,003: Teacher top salary
€55,000: Average salary of an Irish Ferries worker
€50,790: Experienced Acupuncturist
€50,000: Senior Architect in a practice
€51203 -58,041: Mid-wife manager
From €25,000 to €50,000
€48,000: DART driver
€47,532: Associate in a solicitor's practice
€45,442-€89,886: UCD Lecturer
€45,000-€53,000: Newly qualified accountant
€44,116: Garda's salary after 17 years
€43,195: Senior nurse's salary
€40,000-€60,000: PR Manager
€40,000-€60,000: IT Manager
€38,000-€45,000: Solicitor with one year practice
€34,000-€40,600: Senior Chiropodist
€33,332-€88,567: TCD Lecturer
€32,000-€46,000: Bricklayer
€32,000-€40,000: Human Resources Officer
€32,000: Care Worker
€31,000: Skilled Operative in construction
€30,500: Motor Mechanic
€30,884-€41,237: Staff Officer in the civil service
€30,000-€50,000: Head Chef
€30,000-€50,000: Health and Safety Officer at a construction site
€29,366-€48,687: Cabin Crew manager
€29,193: Average industrial wage
€29,000-€53,000: Assistant Officer in the civil service
€29,000: Luas driver
€28,813: Teacher's starting salary
€28,174: Mid-wife's starting salary
€28,000-€35,000: Graduate architect
€27,500-€39,000: Plumber
€27,000: Basic Operatives in Construction
€27,000-€44,403: Higher Tax Officer at the Revenue Commissioners
€26,000-€34,300: Junior chiropodist
€25,000: Traffic regulator for the Luas
€25,000-€37,500: Carpenter
€25,000-€35,000: PR Officer
From €10,000 to €25,000
€24,550: Garda's starting salary
€23,044-€24,324: Bin Men
€23,000: Fire Brigade starting salary
€22,000-€35,000: Tax Officer at the Revenue Commissioners
€22,342: Nurse's starting salary
€20,093 - €38,640: Aer Lingus Cabin Crew
€20,000-€35,000: Trainee accountant
€20,000-€33,000: Clerical officer in the civil service
€19,000: Barrister starting salary
€19,000: Acupuncturist who is self employed
€18,000: Average actor's salary
€18,000-€25,000: Receptionist
€17,086-€21,536: Trainee Chef
€17,000-€35,000: Personal assistant
€16,000-€20,000: Commis chef
€16,000-€18,000: Sales Clerk in a shop
€15,514: Minimum wage – based on €7.65 an hour
€15,000: domestic cleaner base on €7.40 an hour
€11,300: 1st year Apprentice in construction
Sean FitzPatrick
Former CEO of Anglo-Irish Bank, income of €2.7m in 2005. The bank recorded pre-tax profits in its last financial year of €685.2m. He is credited with the extraordinary success of this small bank over the past decade.
Liam O'Mahony:
CEO of Cement Roadstone Holdings Ltd, his income last year was €2m, including bonuses. CRH made an operating profit of €1.4 billion in 2005. Probably Ireland's most successful company (in profitability and turnover terms). It has interests in Ireland, the UK, Europe, America Asia and Israel, where it is involved in building the "apartheid" wall, cutting off the West Bank from Israel and annexing a large area of Palestinian land and doing so in breach of international law.
CRH has had a controversial history in Ireland. Its former chairman, the late Des Traynor, who handled the finances of Charles Haughey, also ran a private bank from the company's headquarters in Fitzwilliam Square, Dublin. Several of the directors of CRH had off-shore accounts in the Cayman Island through this bank, for the purpose of illegal tax evasion.
CRH is presently being sued in the Irish courts for abuse of its dominant position in the building materials market and among the allegations being made in the proceedings is that the company has engaged in activity amount to criminal offences under competition law. CRH is vigorously defending the action.
Liam O'Mahony has had a stellar career at Cement Roadstone Holdings (CRH). He joined the company in 1971. He was previously head of operations in Ireland and the UK and immediately prior to his appointment head of operations in the US. He became CEO in 1999.
Tony O'Reilly
CEO of Independent News and Media, earnings as CEO €1.2m. This is a mere fraction of his income. He also earned several million in dividends from his shareholding in the company and would have earned further millions from his other investments. At least until recently, he paid no income tax in Ireland, as his residence was in the Bahamas. He may have been liable for capital gains tax. According to the Sunday Times "Rich List" he is worth €1.9 billion.
Michael Buckley
Former CEO AIB, income €1.45m, including bonuses. Former civil servant, he was a controversial CEO of AIB, during a time when several "scandals" involving the bank were exposed. Nevertheless the bank's profitability performance continued to rise under his stewardship. The bank made a profit of €1.7 billion for 2005.
Gerry Ryan
RTÉ 2FM presenter, salary €463,450 in 2004. He is the highest-paid employee of RTÉ. In contrast, the Director General of RTÉ, Cathal Goan, is paid €296,000. Presumably, Gerry Ryan is in a position to negotiate a high salary because it is thought one of the commercial stations would recruit him, were RTÉ to refuse to meet his demands. However, the only likely other employer is Today FM and it seems to be doing well in the morning slot with Ray D'Arcy.
Brendan Drumm
CEO of the Health Services Executive (HSE), income €400,000, including bonuses of €80,000 (no clear if he will earn the bonus). There was an impasse over his appointment on the salary and other issues. It is likely his earnings as a hospital consultant was significantly higher than the €400,000 he now earns.
Marian Finucane
RTÉ radio presenter, income of €329,227 in 2004. She is the highest woman earner on our list and this is because there are so few women in the top earning positions in Irish business and none in publicly quoted companies. She was in a position to negotiate a high salary for herself because of an attractive job offer from Newstalk. She had been head-hunted previously by Century Radio in 1989, after Gay Byrne had opted out of that venture (Century was established by Oliver Barry in 1989 in the expectation that Gay Byrne would be its lead presenter, although Gay Byrne had made no commitment).
Geraldine Kennedy and Maeve Donovan
Editor and CEO of the Irish Times respectively, both earning €323,0000, plus bonuses. The scale of their earnings is an issue of rancorous contention within the Irish Times workforce. They both earn the same salary because of their equal ranking within the Irish Times hierarchy. The Irish Times was in deep financial trouble in 2001 but has since been restored to healthy profitability and Maeve Donovan is credited in part with that achievement. Although there have been significant editorial cut backs, the newspaper retains a circulation close to its highest ever, for which Geraldine Kennedy (pictured) is credited in part.
Barristers
Average of salary of all barristers is said to be €120,000, for senior counsel is €270,618 and for junior barristers it is €93,720, according to the Competition Authority. The staring salary is said to be €19,000. While it is true that some barristers earn relatively low incomes, several of the top barristers would earn close to €1m annually. Many senior counsel would earn close to €500,000. Many junior barristers would early well over €200,000.
Bertie Ahern
Taoiseach, income €252,219. He is paid less than Gerry Ryan, Marian Finucane, Pat Kenny and Geraldine Kennedy but a high multiple of what nurses, TDs and gardaí are paid.
John Murray
Chief justice and president of the Supreme Court, income of €250,000. Most of his peers, who remained on at the Bar, would earn a multiple of that. Previously John Murray was a judge of the European Court of Justice and there would have earned much more, certainly in post tax income. Joe Duffy the RTÉ Liveline presenter, earned (in 2004) almost the same salary as the chief justice: €228,743.
Sean Ardagh
TD for Dublin South Central, income as TD €88,556. In fact TDs on average earn considerably more because 32 of them are Ministers or Ministers of State and many more hold positions as chairpersons of Oireachtas committees or conveners of Committees. Nevertheless the salary is far short of that earned in business and in the "professions", but a multiple of the average income of the people they represent. Sean Ardagh is one of the ablest and hardworking backbench TDs.
Teachers
Top salary for secondary teachers is €56,000 and the starting salary for teachers is €28,000 and there are incremental stages between these levels. There are also special allowances. We estimate that the average pay of secondary teachers is in the region of €40,000, abouit one forth of the average income of TDs, and less than one twentieth of several top earners in business, law, medicine and elsewhere.
Midwife and nurse
Starting salary €28,174 and top salary (for midwife manager) is €51,000-€58,000. We estimate the average salary for midwives is €38,000. The starting salary for nurses is €22,000 and a senior nurses salary is €43,000.