Deloitte Australia’s CEO says he’s not worth his $2.3 million pay package at public hearing

Fortune

“Are you really worth seven times the salary of the Australian prime minister?” That was the question posed to Deloitte Australia CEO Adam Powick during a grilling in the Senate.

Transcript

00:00 No, my system.

00:01 It is actually, Mr Poeck, because, as Senator Pocock has indicated, the scale of engagement

00:08 of your sector with the federal purse is now at an incredible level of 25 per cent of the

00:14 income that is coming to your business.

00:18 And you are taking home seven times the salary of the Prime Minister to do your bit of helping

00:24 Australia.

00:25 Does it make sense to me?

00:27 Let me finish my point, please, Senator.

00:30 At the end of the day, we are in a different system.

00:32 We are in a free market, private enterprise.

00:35 In a free market, the salaries—I don't set my salary, I never have set my salary—and

00:41 my salary is set to be commensurate with others that play a similar role in our profession.

00:48 We also try to ensure that partners and our people are paid commensurate and competitively

00:54 with others in our profession.

00:56 I don't apologise, but that happens to be—I happen to recognise, I mean deeply recognise,

01:01 Senator, that I am incredibly privileged and fortunate to earn what I do for what I do.

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