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Are politicians overpaid?

NOTE: if using the data below, it is essential that you refer to Emolument.com as ‘salary benchmarking site’ and use hyperlinks to www.emolument.com

Emolument.com has analysed more than 8,000 salaries from UK Senior Bankers, Solicitors, Engineers and Civil servants. Figures regarding politicians' pay sourced from CNN (D. Cameron), The Guardian (E. Miliband & N. Clegg), The Independent (N. Farage) and The Telegraph (T. Blair)


Can top public jobs in the country compete with top private sector pay? Ed Miliband and David Cameron’s salaries are entirely in line with a London senior banker’s who on average earns a base salary of £150,000, approximately 7% more than both leaders

Are they paid in line with their degree? LSE and Oxford grads with the same level of experience as Miliband and Cameron make respectively £105,000 and £131,000, which goes to show that the leaders are outperforming most of their peers in terms of pay (and visibility!)

Hold on! What about bonuses? When taking bonuses into account, both leaders fall far behind their private sector peers, with bonuses ranging from £5,000 to £10,000s. They will however most likely be able to make up for any windfall thanks to the lucrative conference circuit many politicians turn to at the end of their public life, like Tony Blair who allegedly earned at least £13 million pounds since leaving office
 

Politicians annual salary compared to average salaries

 

Thomas Drewry, CEO at Emolument.com said: â€˜While a handful of top public jobs pay well to compete with the private sector, choosing public office over a career in law or banking entails a meaningful financial sacrifice for most with salaries for senior local government officials at around £47,000.’ 
 

Politicians annual salary compared to UK average salaries

Launching a brand new service: 'Emolument Employers'

Does Ernst & Young pay more than Accenture? Does Google value an MBA? From which universities does Goldman Sachs recruit? Find answers to these and hundreds more questions through the simple, transparent and dynamic graphs Emolument.com has just created for its new product: Emolument Employers.

Following its ground-breaking Alumni launch in 2014 which allows users to benchmark not only their jobs but their university and degrees, Emolument.com has now expanded its offering with Emolument Employers. Emolument.com has built this new technology to enable its 50,000 members to delve into the pay structure and demographics of specific companies, giving them yet another essential tool to make key career choices. Users can now benchmark career paths and specialisms, university degrees and employers for free in seconds with an intuitive, dynamic and reliable platform, which is fast becoming an indispensable career enhancing tool.

Thomas Drewry, CEO at Emolument.com said: â€˜Emolument.com created Employer reports on the back of user demand to help them navigate their annual salary negotiation discussions, job offers and internal transfers. They can now compare one company pay against another in the usual transparent and granular way for which Emolument is recognised. Going forward, we will continue to listen to our users' needs to build relevant functionality and gather even more data in order to promote transparency in pay which we believe is essential to empower our users to take control of their careers.'


Emolument Employer's intuitive interface:


Emolument Employers is transparent:
Emolument.com – an overview
Emolument.com was launched in 2012 as the only real-time bonus & salary-benchmarking site dedicated to finance and other professional services industries. With over 46,000 contributions from individuals at over 18,500 institutions the service has become the leading provider of validated real-time remuneration data.
 
Emolument.com sources salary and bonus data directly from individual professionals who contribute anonymously. In return, contributors receive free access to aggregated market results broken down by title, location and sector.  Emolument’s mission is to provide greater transparency about what professionals really earn to help them make more informed career decisions.
 
Emolument.com has just launched its ‘Alumni’ service which allows users to benchmark themselves against their university peers (www.emolument.com/alumni). Users can now view both their ‘education’ report on top of their existing job report. The new Education reports feature compensation ranking, industry spreads for their university peers. In line with Emolument’s existing services, these reports are free and available to users of Emolument.com and Emolument.com/alumni.
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