The government set the limit for executive pay

The Spanish government remains in tightening and cut back on executive pay.

Last week came a decision on a maximum salary for bank executives at banks that receive state aid. Today it was announced that executives of the largest publicly owned companies may have no more than EUR 105 000 in salary. The corresponding wages for medium-sized enterprises has been set at EUR 80 000 and for smaller companies to 55 000. Initial estimates say that the head of salaries in public companies, on average, will be reduced by between 25 and 30%.