$37.7 million is a new Australian record. Why our corporate chiefs are paid so wel

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The annual chief executive pay report produced by the Australian Council of Superannuation Investors is a must-read for shareholders and members of superannuation funds.

The latest report, relating to the financial year that ended in 2019, reveals a new record for the money actually paid in one year, so-called realised remuneration, of AU$37.7 million.

The extraordinary sum went to Andrew Barkla, the chief executive of a little-known company, IDP Education. He beat the previous record set by the chief executive of Domino’s Pizza Don Meij who took home $36.84 million in 2017.

Paul Perreault from CSL took out second place with realised pay of $30.5 million, followed by Philippe Wolgen from Clinuvel Pharmaceuticals with $20.6 million and Michael Clarke from Treasury Wine Estates with $19.9 million.

IDP Education is part-owned by Australia’s universities and matches students with places in the major English-speaking nations of Australia, Canada, Ireland, New Zealand, United Kingdom and United States.

Andrew Barkla’s payment was largely the result of the exercise of share options granted prior to the company’s share market listing in 2015.