Salaries for 2010/11
We paid salaries to over 1000 staff and fourteen members of our Group Board in the 2010/11 financial year. You can find full details here.
Employee salaries
For the financial year 2010/11, we had an average of 1070 employees.
The costs for our employees are listed in the table below.
| Staff costs | £million |
|---|---|
| Wages and Salaries | 36.9 |
| Social security costs (e.g. National Insurance) | 3.9 |
| Other pension costs | 4.8 |
| Total | 45.6 |
We paid a total of 1302 members of staff over the year. The table below details payments to staff and includes salaries, fees, performance related pay, benefits in kind and lump sums, but excludes employer pension contributions and termination payments.
| Salary band | Number of employees |
|---|---|
| £nil to £10,000 | 138 |
| £10,000 to £20,000 | 197 |
| £20,000 to £30,000 | 314 |
| £30,000 to £40,000 | 375 |
| £40,000 to £50,000 | 134 |
| £50,000 to £60,000 | 71 |
| £60,000 to £70,000 | 30 |
| £70,000 to £80,000 | 16 |
| £80,000 to £90,000 | 7 |
| £90,000 to £100,000 | 2 |
| £100,000 to £110,000 | 7 |
| £110,000 to £120,000 | 1 |
| £120,000 to £130,000 | 2 |
| £130,000 to £140,000 | 2 |
| £140,000 to £150,000 | 3 |
| £150,000 to £160,000 | 2 |
| £160,000 to £170,000 | 0 |
| £170,000 to £180,000 | 0 |
| £180,000 to £190,000 | 0 |
| £190,000 to £200,000 | 0 |
| £200,000 to £210,000 | 1 |
| Total | 1302 |
Note: we have included details of the actual amounts paid to individuals. Some of these individuals may have worked part-time or for a period less than a year, resulting in them being paid less than the annual minimum wage for a full-time employee.
We have made a pledge to all our employees that we will provide compensation and benefits that are at or above the industry standard, in return for performance that is better than our peers in the industry.
Our highest earner, the Chief Executive, was paid 15.6 times more than our lowest earner, based on a comparison of contracted hourly rates.
Chief Executive salary
Our Chief Executive, David Montague, earned a salary of £200,000. He was paid £3.10 for each home that we manage, improving on costs from the previous financial year.
He was paid the lowest amount per home managed when compared to the Chief Executives of the 10 largest housing associations operating in and around London. The average amount paid per home managed for this group of Chief Executives was £5.20.
In an article on Housing Association Chief Executive pay published on the Inside Housing website, David Montague was listed as having the lowest pay per pound of turnover, and the second lowest pay per home managed when compared to the 100 largest housing associations in the country.
Group board salaries
Our Group Board members are remunerated for their services to L&Q. Each Group Board member was paid £8,670, except the Chair who was paid £20,400. In addition to this, board members who act as a committee chair are paid £3,570 for each committee that they chair.
Our Chairman, Turlogh OBrien, was paid £0.37 for each home that we manage.
| Board member | Additional responsibilities | Remuneration (£) in 2010/11 |
| Turlogh OBrien |
|
23,970 |
| Ainsley Forbes (resigned from Group Board 02/09/11) |
8,670 | |
| Brian Carroll | 8,670 | |
| Chinelle Anichebe (appointed 02/09/10) |
5,035 | |
| Claire Martin | 8,670 | |
| David Montague |
|
David Montague draws a salary as an L&Q employee, but does not receive additional remuneration for his role on the group board. |
| Diane Phillips |
|
12,240 |
| Frank Chersky |
|
12,240 |
| Irene Addis (resigned from Group Board 02/09/2010) |
|
5,194 |
| Joanna Killian (appointed 02/09/10) |
5,035 | |
| Michael Richardson (resigned 02/09/2010) |
|
5,194 |
| Robert Cooper |
|
12,240 |
| Ron Goodman | 8,670 | |
| Russell Profitt (appointed 02/09/10) |
5,035 | |
| Total | 120,863 |
We publish a register of our board members interests (pdf)
which is updated each year.
