Perks at Nationwide Building Society

June 2018 – James Burton of the Daily Mail reports that Nationwide Building Society chief executive Joe Garner takes £595 in perks every day.  He takes hundreds of thousands of pounds of perks every year on top of £2.2 million in pay and bonuses.

Joe Garner enjoyed benefits such as a car allowance and private medical cover worth £217,000 or £595 a day in the year to April 4.

The benefits bonanza is more than eight times the average worker’s salary and was taken in addition to his base pay of £855,000, a bonus of £903,000 and £342,000 towards his pension.

The article quotes a spokesman for the building society who said: ‘Nationwide aims to pay its top executives, including chief executive, below the market average (what market?).’

‘Our executive pay is measured against tough criteria, including service, care, value and running a sustainable society’ (for a mediocre performing building society).