Companies are being warned to think twice before hiking boardroom pay packets.
A study by consultancy company Strategic Pay shows base salaries for CEOs and managing directors have risen by nearly ten percent over the past year, but incentives and bonuses are shrinking,
Survey spokesman John McGill says because of the economic situation, company directors should tread carefully when it comes to their pay packets.
"The unemployment level, although not very high, is still high in terms of where we're at and just not an environment where any particularly large increases would be perceived with any particular favour this year."
Photo: NZ Herald