2.2 billion people live on less than $2 a day and over 1 billion live in extreme poverty, trying to survive on just $1.25 per day.
Given these appalling facts the work of Aid agencies like Oxfam, World Vision, Save The Children etc is vital.
But what is a reasonable amount to pay someone who heads one of these agencies?
In the case of TIM COSTELLO from World Vision the answer is disturbing to say the least.
His “total remuneration” package is $316,000 per year.
We are told all the time that for as little as $30 or $40 a month several lives can be saved or dramatically improved in numerous poverty stricken countries.
This is no doubt true and I for one think we should be donating to alleviate severe poverty and inequality.
But does the head of an organisation designed to help the poorest of the poor, need such a bloated, extravagant pay packet?
Tim Costello is clearly a good guy and has his heart in the right place but this is just such a bad look.
He has almost caught up to the NSW Premier who rakes in $340,000 a year. (and the Premier is paid by taxes, not donations from the public)
Mr Costello could cut his pay by two thirds and still be living very comfortably.
Imagine how many lives could be saved with the $200,000 saved.
According to World Visions website the organisation manages to devote only 77% of donations to direct aid programs. The other 23% goes to fundraising and admin. By most standards this is a very poor outcome.
There is very little straightforward information available on spending by charities and how much they pay their “senior executives”.
This 2009 article has some info on organisations like the Red Cross, Save the Children and Action Aid.
http://boy-on-a-bike.blogspot.com.au/2009/12/how-much-can-ceo-of-charity...
Information from World Vision on the CEO’s salary:
http://www.worldvision.com.au/AboutUs/FAQsAboutWorldVisionAustralia.aspx...