Forget the cost-of-living-crisis. That's not something experienced in Wellington by public sector executives. The Reserve Bank's Annual Report has just been released & says its Executive Leadership Team was paid $5.2 million. Most of the 10 of them have no training in economics (8 to be precise) so it's not clear what they do that's associated with delivering NZ better economic (monetary & banking) policies. They're paid, on average, around three times what a NZ University Professor earns. As for the Board of Directors, it's even less clear what they do - again most have little to no expertise in central banking. Nevertheless that 7 member Board took $662,000 for what-ever-it-is-they-do.
Sources:
See page 153 of the Annual Report