Posted by jj on March 14, 2010 at 22:19:07:
In Reply to: re: nama pay rise posted by Todd on March 14, 2010 at 18:37:24:
Pay reductions are for individual firms, tax increases are for all income earners. So there is a difference.
To attract external expertise you do need to pay bigger bucks. If you look at the board of NAMA and their individual earning power (opportunity cost) outside of NAMA you would expect them to earn more than the given fees for the board time (and subsequent substantial headache from the public).
I have said it often that the level of pay for the TDs and MPs in the UK is not substantial enough. Many professions have higher earning potential and although money isn't that main driving factor behind career choice it is irresponsible to deny that it plays a major part.
I agree paying big salaries does not equate to higher quality personal but it helps.
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