Photo Gallery Germany's Largest Salaries
Volkswagen CEO Martin Winterkorn has become the poster boy for excessive manager salaries, earning 17.5 million in 2011. Though the company's results have been excellent, many find such a bloated compensation package to be unfair.
Daimler CEO Dieter Zetsche earned 8.2 million in 2012. German politicians are now demanding that new regulations be introduced limiting executive salaries. Even Chancellor Angela Merkel now agrees.
Siemens head Peter Löscher earned 7.9 million in 2012. Though German unions are now complaining about inflated executive compensation, they have been complicit in rising salaries. Labor representatives occupy half the seats on the supervisory boards of DAX-listed companies.
Wolfgang Reitzle, CEO of the industrial gases and engineering company Linde, earned 6.9 million in 2012. The European Union recently imposed a limit on the size of banker bonuses and Switzerland likewise moved to get manager salaries under control.
Herbert Hainer of Adidas made 2.7 million in 2012. The issue of executive salaries is likely one that will play a role in the campaign this year as Chancellor Angela Merkel seeks re-election in the autumn. On Wednesday, she went on record as being in favor of controls.
Partially as a result of the economic crisis which has tightened its grip on Europe in recent months, there is a growing feeling that the gap between average wages and manager salaries has grown too large on the Continent. Here, a group protests against banker bonuses in front of UBS bank in Zurich.
Graphic: The growing earnings gap in Germany.
