Monday, 28 May 2018 10:17

NBN Co: the money is good, the results aren't Featured

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The NBN Co pays its staff handsomely, figures revealed ahead of Senate estimates hearings last week show, with 8% of its 6044 staff taking home more than $200,000.

The Australian reported that 2% of NBN Co employees pocket about $300,000 per annum, while the chief executive Bill Morrow has to make do on $3.56 million.

By comparison, Australia Post told Senate estimates that 0.8% of its employees were paid more than $200,000 per annum.

In terms of numbers, that means more than 480 NBN Co employees get pay packets of more than $200,000 each year while 120 earn packages of more than $300,000.

Another six senior NBN Co executives were earning more than $1 million a year.

On its website, the NBN Co has a long list of comments made by Morrow to the Sanate estimates. However, there is no mention of the salaries paid to staff.

In its latest results, the company announced a loss of $3.3 billion for the nine months to March 2018.

This was up by $1.2 billion, with the loss in the nine months for the previous financial year being $2.7 billion.

The report cited an NBN Co spokesman as defending the salaries paid out, saying: "“To meet our operational goals, NBN Co has recruited highly experienced engineers, project managers, IT engineers, business managers, lawyers, marketers, human resources, and account executives."

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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