{"id":928873,"date":"2026-10-15T09:16:24","date_gmt":"2026-10-15T09:16:24","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/928873\/"},"modified":"2026-10-15T09:16:24","modified_gmt":"2026-10-15T09:16:24","slug":"rba-governor-michele-bullocks-salary-revealed-in-annual-report","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/928873\/","title":{"rendered":"RBA governor Michele Bullock\u2019s salary revealed in annual report"},"content":{"rendered":"<p>The Reserve Bank of Australia\u2019s two most senior officials who oversaw four interest rate hikes in the space of six meetings have been handed a pay increase that did not keep up with inflation. <\/p>\n<p>In total the cash rate went up from 3.60 to 4.60 per cent, with experts predicting there could be further rate pain in November. <\/p>\n<p>According to the RBA annual report up to June 30, RBA governor Michele Bullock makes a whopping $1,223,465 over the last financial year. <\/p>\n<p>This was made up of $1.015m in base pay while she was also eligible for other benefits, superannuation and long service leave. <\/p>\n<p>Meanwhile, her deputy Andrew Hauser received $903,217 in base pay, while receiving more than $30,000 in superannuation and $21,7144 in long service leave benefits. <\/p>\n<p>Despite the large salary the top bosses of the RBA actually received a below inflation pay bump.<\/p>\n<p>The salary of the RBA governor is determined by the RBA remuneration committee, which consists of three non-executive members who make recommendations on pay for the approval of the Reserve Bank Board.<\/p>\n<p>\u201cIn June 2025, the Remuneration Tribunal determined that, effective 1 July 2025, an adjustment of 2.4 per cent would be made to the remuneration of offices in its jurisdiction, including those of the Governor and Deputy Governor,\u201d the report said.<\/p>\n<p>This was slightly above the June 2025 annual inflation figure of 2.1 per cent, but is below the 3.8 per cent inflation finished at last financial year. <\/p>\n<p>For comparison, the Fair Work Commission announced a 4.75 per cent increase in the minimum award.<\/p>\n<p>Following the announcement the minimum wage will rise to $26.44 per hour (from $24.95), or $1004.90 per week (from $948).<\/p>\n<p>The documents further showed at least 58 staff members are being paid more than $295,000 a year, while 89 employees at the Reserve Bank make at least $270,000.<\/p>\n<p>A further 19 staff members are making $320,000 while 14 pocket at least $345,000 a year. <\/p>\n<p>This is again made up of base salary, superannuation and other remuneration. <\/p>\n<p>Read related topics:<a class=\"topic_tag\" href=\"https:\/\/www.news.com.au\/topics\/reserve-bank\" data-tgev-container=\"story-topic-links\" data-tgev-label=\"Reserve Bank\" data-tgev-order=\"1\" data-tgev-metric=\"npv\" data-tgev=\"event10\" rel=\"nofollow noopener\" target=\"_blank\">Reserve Bank<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The Reserve Bank of Australia\u2019s two most senior officials who oversaw four interest rate hikes in the 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