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Despite presiding over declining profits and wide-ranging job cuts, almost 90 per cent of Australia's top 200 CEOs still received a bonus in 2011.
A new report from the Australian Council of Superannuation Investors (ACSI) shows executive pay is still rising but the rate of growth is slowing as board's lower bonuses in an attempt to appease angry shareholders.
The average bonus during 2011 dropped to $1.25 million, the lowest level since 2004.
As new executive remuneration legislation takes hold, angry shareholders are expected to use their new powers to more directly link long-term bonuses with shareholder returns.
So who are Australia's highest-earning CEOs? Click ahead to find out >>
*An executive share option gives senior managers the opportunity to buy a specified number of shares of the company's stock at a guaranteed "strike price" for a period of time, usually several years. If the company's stock goes up in price, the executive can exercise the options to buy stock at the strike price and then sell the shares at the market price, keeping the difference as profit.
Sep 18, 2012