BROMSGROVE District Housing Trust has defended its chief executive’s salary after new figures revealed he earned almost £130,000 in the financial year 2015-2016 – the equivalent of £33.53 for every house rented.
The figures, published this week in a report on chief executive salaries by specialist publication Inside Housing, showed Mr Brown’s salary made a 1.5 per cent jump from £127,969 in 2014/2015, to £129,889 in 2015/2016.
Mr Brown received £6,685 for every million pounds the trust turned over, putting him at the top of the league table in that category – £303 more than the second placed chief executive who gets £6,382 for every million.
With a total of 3,874 properties in its portfolio, bdht has a stock investment value of £456million.
But bdht chair Maddy Bunker defended the figures presented to her by the Standard, claiming it was ‘historical information’ because it related to the last financial year.
She added since then Mr Brown had seen a reduction in his salary of four per cent.
That means he will be due to pick up £124,693.44 in the 2016/17 financial year.
“Mike’s salary has always been a matter of public record, and is commensurate with a business with a turnover of £20m, over 130 staff and very high levels of customer satisfaction.
“The Board of bdht benchmark salaries on a regular basis, and are comfortable with the level at which it is set,” she added.
Since former chancellor George Osborne cut rents by one per cent in June 2015, research by EMA Business Management Consultancy found the percentage of social housing organisations which had had to withdraw pay rises for its general staff had jumped from three per cent in 2015, to 32 per cent in 2016/2017.