A job as chairperson of a big organisation such as ANZ is likely to pay hundreds of thousands of dollars a year.
Former Prime Minister John Key was named chairman of ANZ Bank's local arm today.
Key joins the board of the country's biggest bank from today and will assume chair at the start of next year.
It is the second corporate board the former PM has joined and follows his appointment as an Air New Zealand director, for which he earns $97,500.
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Although ANZ's local board salaries are not individually disclosed, he can expect to earn in the ballpark of $200,000 when the role is compared with other chairs.
The chairman of Auckland International Airport earns $250,000 for his troubles, while the chairman of Fisher & Paykel healthcare earns $212,000.
At the upper end, the chairman of Spark earns $375,099 and the chairman of Fletcher earns $415,000.
Key's colleague, the chairman of Air New Zealand earns $270,000.
Judging by these remunerations, we can only guess Key will earn at least $100,000.
The existing ANZ chair John Judge retires from his role in January.
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