Does Bernanke Deserve a Raise?

[Mysticforex 13]

Come Monday July the 1st, Mark Carney will begin his new job as the world's highest paid central banker. It is reported Carney will make £874,000 ($1.340,000), quite a raise from the C$429,600 at his last gig in Canada. This is also more than his predecessors salary of £305,368, but Mervyn King also receives a pension of £250K per year.

Prior to the salary for Carney, the highest paid central banker was the Reserve Bank of Australia's Glen Stevens. He was being paid A$ 1,050,000 per year but considering the recent dive in the A$, he has taken a pay cut. Contrast this to the Fed's Bernanke who is toiling for only $199,700, nearly the minimum wage for a central banker.

 

Really, is it fair since, Bernanke has the weight of the world on his shoulders. Only last week he suggested conditions in the US were improving, and this might result in fewer bond purchases later in the year. This caused panic in the debt markets, and sent global equity markets lower.

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But Bernanke will make much more when he is out of the job delivering speeches