The provincial government released its annual report of executive compensation in Crown corporations July 23 and is attributing the marginal drop in pay to new policies it enacted in July 2012.
This year, total executive compensation is down 2.8% and incentive pay is down 0.9%.
The number of disclosed executives receiving incentive pay is down 12%, from 97 to 85.
Some elements of the 2012 Crown corporation executive pay policy are:
- freeze all executive salaries in Crown corporations;
- begin eliminating executive bonuses and replace them with holdbacks of no more than 20%; and
- reduce base salary for senior executives on appointment.
For a list of the top paid executives in B.C. Crown corporations, click here.
