2009 WestJet Executive Compensation

[Say Altitude]

First Number is Base Salary, 2nd is total compensation.

Sean Durfy WestJet President & Chief Executive Officer $535,000.00 $2,198,422.00
Vito Culmone WestJet Executive Vice President, Finance & Chief Financial Officer $340,000.00 $905,862.00
Robert Cummings WestJet Executive Vice President, Marketing & Sales $340,000.00 $905,862.00
Dr. Hugh Dunleavy WestJet Executive Vice President, Strategy & Planning $340,000.00 $905,862.00
Ferio Pugliese WestJet Executive Vice President, People & Culture $340,000.00 $905,862.00
Fred Ring WestJet Executive Vice President, Corporate Projects $340,000.00 $905,862.00
Gregg Saretsky WestJet Executive Vice President, Operations $169,807.00 $522,129.00

[yycflyguy]

Starting to look like AC executive compensation... and no, it is never ok.

[invertedattitude]

I'm sure the CSA making $14/hour at Pearson, working three jobs really appreciates that.

[cdnpilot77]

I'm sure the CSA making $14/hour at Pearson, working three jobs really appreciates that.

How many bank tellers make $15mil per year, how many casiers at Walmart are billionaires? This formula is not exclusive to the airline industry. Not saying it's right, not saying saying it's wrong but its the way it is. Like we hear many times over, unless the people go all for one and one for all, it is never going to change...even then, long shot

[whiteguy]

First Number is Base Salary, 2nd is total compensation.

Sean Durfy WestJet President & Chief Executive Officer $535,000.00 $2,198,422.00
Vito Culmone WestJet Executive Vice President, Finance & Chief Financial Officer $340,000.00 $905,862.00
Robert Cummings WestJet Executive Vice President, Marketing & Sales $340,000.00 $905,862.00
Dr. Hugh Dunleavy WestJet Executive Vice President, Strategy & Planning $340,000.00 $905,862.00
Ferio Pugliese WestJet Executive Vice President, People & Culture $340,000.00 $905,862.00
Fred Ring WestJet Executive Vice President, Corporate Projects $340,000.00 $905,862.00
Gregg Saretsky WestJet Executive Vice President, Operations $169,807.00 $522,129.00

Now those are owners!

[Big Pistons Forever]

My guess is virtually no one posting on Avcanada has the slightest idea of what it takes to hold a senior management position in a large publically held corporation.

Only the boss makes more than one million. These are quite low by North American standards for a business this size. Comparing a CSA salary to a senior VP is simply silly. For starters all of the executives have 24 hr 7 day a week jobs and work their ass off. The worst a CSA can do is send your bags to the wrong city. The executives make decisions everyday that will materially affect the profitabilty and therefore the future success of the company and the jobs that success represents. I would think you would want the guy making the big picture, big money decisons to be really good and to get that you have to pay a competative wage. I would think everyone on the list could double their pay tomorrow if they wanted to, so presumably they are staying because they consider working for Westjet is worth a lower pay package. A narrow body Boeing jet captain makes about 5 times the take home of a CSA, A senior VP makes about 5 times the take home of a Boeing Captain. I think that is an entirely reasonable reflection of the scope and scale of the increased responsibilities and demands of each position.

The problem with executive compensation is not necessarily the size of the pay package it is the delinking of pay and performance, especially in the USA. Glen Tilton is a prime example. 15 Million a year to run United into the ground and now he is going to be chairman of the board of the merged United/Continental

[ahramin]

I don't see anything crazy about the numbers listed above but who was in charge of the change in reservation systems and what did they get paid?

[whiteguy]

I don't see anything crazy about the numbers listed above but who was in charge of the change in reservation systems and what did they get paid?

$4.1 million to leave!

[mbav8r]

Big Pistons wrote;
Only the boss makes more than one million. These are quite low by North American standards for a business this size. Comparing a CSA salary to a senior VP is simply silly. For starters all of the executives have 24 hr 7 day a week jobs and work their ass off. The worst a CSA can do is send your bags to the wrong city.

Fairly simplistic view, first off those numbers are quite low by North American standards because WJ is young compared to most if not all Airlines in North America. Do you think that in 10 years those salaries will be lower, not a chance. WJ will have legacy cost to contend with and if you think those executives are the only ones making the difference you obviously don't understand the importance of the frontline employee's role in return business. It has been talked about over and over, the difference between an engaged employee vs non. One of the biggest factors for employee engagment, in my opinion is our pay vs management pay. Ask any of the Jazz pilots right now how we feel about Randell's pay vs what they're offering. His most recent bonus is equivilant to what they have offered us as a group. The only thing I'm engaged in right now is walking the line. Joe can go to H@#L.

[yycflyguy]

Tell us how you really feel mbav8or! I hope all Jazzers get a huge pay uplift. Better standard for all. Don't let the bastards get you down.

The problem with executive compensation is not necessarily the size of the pay package it is the delinking of pay and performance, especially in the USA. Glen Tilton is a prime example. 15 Million a year to run United into the ground and now he is going to be chairman of the board of the merged United/Continental

This is exactly the point. Executives crow about exorbitant compensation as the cost of doing business and retaining executive talent. They make their bonuses based on the cost cutting measures that all the labour groups gave up. That money does NOT go into the future of the company, it is strip mined out under justification such as "unlocking shareholder value". Being an airline executive means absolutely nothing with longevity and health of the airline they are supposedly in control of. They are there for a short time and then the revolving door of executives keeps the good old boys in the money.

[Huge Hammer]

I'm sure the CSA making $14/hour at Pearson, working three jobs really appreciates that.

Dumb comment. How do you feel about Crichton making 1.4 Million per year for a company that has no shareholders?

[glorifieddriver]

If you're after money, go get yourself an MBA and become a CEO yourself, and stop b#@$#$ing about other people. I have nothing but respect for people with determination like that.

[Johnny#5]

Its funny that Gregg Saretsky is the lowest paid Executive VP.

....he must be the only one who's also a pilot!

[squawk]

Sounds fair to me in a free market economy.
After all, we are not communists!

[Bede]

The problem with executive compensation is not necessarily the size of the pay package it is the delinking of pay and performance, especially in the USA. Glen Tilton is a prime example. 15 Million a year to run United into the ground and now he is going to be chairman of the board of the merged United/Continental

Excellent post. Especially the last paragraph.

When I worked for Jazz, I knew one of the senior managers. He made quite a bit more than he did as a captain. However, he said per hour, it was considerably less.

[yycflyguy]

If you're after money, go get yourself an MBA and become a CEO yourself, and stop b#@$#$ing about other people. I have nothing but respect for people with determination like that.

I just did a quick Google search using "CEO investigated" and here are some of the headlines I got for the people you respect.

Deutsche Telekom CEO in suspected bribery probe
JPMorgan Korea CEO Said to Be Investigated Over Unfair Trading
HP CEO Mark Hurd just resigned over sexual harassment accusation
Hospital CEO investigated
WestJet, Air Canada Spy on Each Other
Mandela Charity’s Former CEO Charged Over Model’s Diamonds
South African hospital CEO charged in organ trafficking

Yup. All upstanding citizens of the community that deserve the executive bonus they assign to themselves on the backs of employee groups who take wage and condition concessions.

[bmc]

If you're after money, go get yourself an MBA and become a CEO yourself, and stop b#@$#$ing about other people. I have nothing but respect for people with determination like that.

I just did a quick Google search using "CEO investigated" and here are some of the headlines I got for the people you respect.

Deutsche Telekom CEO in suspected bribery probe
JPMorgan Korea CEO Said to Be Investigated Over Unfair Trading
HP CEO Mark Hurd just resigned over sexual harassment accusation
Hospital CEO investigated
WestJet, Air Canada Spy on Each Other
Mandela Charity’s Former CEO Charged Over Model’s Diamonds
South African hospital CEO charged in organ trafficking

Yup. All upstanding citizens of the community that deserve the executive bonus they assign to themselves on the backs of employee groups who take wage and condition concessions.

Seven CEO's.

That just about covers all CEO's in the corporate world, past and present.

Good research.

[yycflyguy]

LOL, those were the FIRST seven headlines that popped up on the search! I could post all 24 pages of hits too, if you like. Try it and see for yourself. Defending CEOs as ethical. Too rich!

[fish4life]

I have to agree with BPF these people make decisions that can change the course of the company and can make or lose the companies millions of dollars in seconds based on there decision. As well it seems like a lot of money but there is no such thing as a day off or a time of the day you don't have to be available to answer your phone or return e-mails. These guys live and breathe Westjet even on Christmas eve and new years morning or during there kids soccer games. If they were making $25million then I'd have a problem with it.

[Maurice]

As well it seems like a lot of money but there is no such thing as a day off or a time of the day you don't have to be available to answer your phone or return e-mails. These guys live and breathe Westjet even on Christmas eve and new years morning or during there kids soccer games.

That's absolutely true, these guys have next to no time off. The Blackberry's stay turned on all the time, even during vacations. I worked until midnight to meet a deadline a few months ago and when I was heading to the elevator to head home Gregg was still in his office working. Prorate the executive base salary to 15 days a month and compare that to what a top captain makes...

[sepia]

Its funny that Gregg Saretsky is the lowest paid Executive VP.

....he must be the only one who's also a pilot!

How many days did he work of that year?

[mikeecho]

As well it seems like a lot of money but there is no such thing as a day off or a time of the day you don't have to be available to answer your phone or return e-mails. These guys live and breathe Westjet even on Christmas eve and new years morning or during there kids soccer games.

That's absolutely true, these guys have next to no time off. The Blackberry's stay turned on all the time, even during vacations. I worked until midnight to meet a deadline a few months ago and when I was heading to the elevator to head home Gregg was still in his office working. Prorate the executive base salary to 15 days a month and compare that to what a top captain makes...

The exception of course being FR who retired and now gets paid through the teeth to make all our desks look the same when it's convenient for him.

[Maurice]

The exception of course being FR who retired and now gets paid through the teeth to make all our desks look the same when it's convenient for him.[/quote]

No argument from me on that one.

[bandaid]

Hey I was on call 24/7, I was making life saving decisions. I would like to say that I made what these guys do but I would be lying. I don't begrudge them there money. A lot of dues have been paid by these guys to get were they are.

[Joe Blow Schmo]

First Number is Base Salary, 2nd is total compensation.

Sean Durfy WestJet President & Chief Executive Officer $535,000.00 $2,198,422.00
Vito Culmone WestJet Executive Vice President, Finance & Chief Financial Officer $340,000.00 $905,862.00
Robert Cummings WestJet Executive Vice President, Marketing & Sales $340,000.00 $905,862.00
Dr. Hugh Dunleavy WestJet Executive Vice President, Strategy & Planning $340,000.00 $905,862.00
Ferio Pugliese WestJet Executive Vice President, People & Culture $340,000.00 $905,862.00
Fred Ring WestJet Executive Vice President, Corporate Projects $340,000.00 $905,862.00
Gregg Saretsky WestJet Executive Vice President, Operations $169,807.00 $522,129.00

Considering that executive compensation is supposed to be at least partially performance based I find it interesting that all the VPs (except Gregg) made exactly the same amount.

Does this include stock options or is it just salary and cash bonus?