With MPs’ super the topic du jour, the obvious question is: are politicians earning too much or too little? We decided to try to find out by looking at what kind of employment politicians’ salaries would buy them in the marketplace.  

An MP’s base salary is $118,950 (plus electorate allowance, $27,300-39,600). Ignoring the perks, in the marketplace, that’s roughly equivalent to such professionals as:

Mine manager: $120-185,000

High School Principal (NSW) $119,736

Lawyer with 7 years’ experience (Melbourne): $95,000-200,000

IT business development managers (NSW): Approx $110,000

Creative Director of advertising/design (Sydney): $110-150,000

Senior qualified accountant: $125-160,000

HR director (Australia-wide): $125-200,000

Executive manager of corporate and commercial lending (Australia-wide): $90,000-165,000

Treasurer Peter Costello is on $250,331. In the private sector, he could get a similar amount as the Regional Vice President of an eBusiness or the CFO of a property development group, according to job ads in today’s Financial Review.

If he opted for a different kind of spinning job, he could earn an equivalent salary as a general manager of sales and marketing in Sydney.

Prime Minister John Howard is on $336,570 (base salary of $118,950 plus PM’s pay of $190,320 plus electorate allowance of $27,300).

That’s what your average in-house General Counsel might expect to make — at least. The head of retail operations at a large department store could expect to make more — around $375,000 a year with potential bonuses of $100,000. Not to mention lots of free designer shoes.

Sources: Financial Review; AdNews, Hays