Is it time to scrap the Irish banking €500,000 pay cap?

I thought the Irish banks were very profitable. Why do they need a payrise?

Irish banks are full of mismanagement and financial waste. Source? I am close with people who have worked, or still work, in large Irish banks.

Paying their executives tons of money makes zero sense. Some of their systems and practices are borderline unfixable. Legacy computer systems they seem unable to upgrade, millions wasted on new systems that are not suited to purpose.. yeah that's a very, very hard no from me.

What could it lead to? further risky lending practices so that the banks can reap larger profits, allowing executives get larger bonuses or pay. I don't think that needs to be encouraged either.

Ahh the poor crature.

He wants to come home, but can't earn a fortune from a bank that only exists thanks to the money granted to it by the bunch of idiots we called a government on behalf of all taxpayers past, present and future.

Money that normal taxpayers and citizens of this country end up getting shafted for over numerous years.

Oh we will get the usual vested interested excusers on telling us the banks have paid a lot of the money back, but they never reference fact we are paying through cut public services, increased borrrowing rates, etc.

And these would be the same banks that offer shyte services to their existing non debt laden customers, all the while allowing government and their fellow shyters away with millions upon millions of unpaid debts.

Piece of advice for said high flying banker.

Stay to fook away, we have had too many so called high flying bankers in the past and all they did was suck us dry.

I don't recall any of them seeing real jail time for fraud, incompetence, and downright disregard for the economic well being of this state.

When people in banks are complaining about 500,000 salaries then you know a recession is around the corner.

Well then banks should be nationalized, along with the awful health service & also public transport.

NO

I think it should go for any bank which has given back all the bailout money it was given.

Absolutely.

This focus goes to the heart of what banks and their boards want to see the industry operate as, as a profit first, only, and at all costs model. Ordinarily, there's little argument against letting the market set the rate as it does in other industries, but these banks took massive money to stay solvent at a time when they were supposedly getting the best that money could buy. And it got to the point of the Irish Government having to step in and take ownership of the banks (or as good as).

And many of them had to be dragged kicking and screaming to acknowledge and pay for the suffering they put individuals and families under as the house of cards fell down and they looked to minimise their losses.

This is article has the whiff of 'our friends in the media' off of it looking to get the gravy train rolling again as they know an increase at the top level will call for similar increases all down the chain (as far as the door of the corporate level anyway at least, they'll probably hold off justifying wage increases for the bank floor staff).

Michael Noonan effectively managed the Irish financial system (and the banks under Government control) for 6 years in his early 70's and while dealing with the loss of his wife to a horrific disease. The idea of opening the door to flagrant excess so quickly after the impact of the 08 crash is a worrying one for me.

Am I the only one taken aback by the health insurance bit? I would expect that as a basic and would be very hard pressed to take a job that didn't offer it - granted a half mil salary would help but I'm not quite at that stage just yet

But none is them should be rewarded with pay rises.

In fact the masters of the universe attitude is what caused them to become so arrogant and wreck less in the first place.