Is £60k a year really “living on the edge”?

Michael Eavis has been reported as taking only £60,000 in salary which is less than his top dairyman. He also said that he takes no funds forwards into the next year, preferring to ‘live on the edge’.

Whilst I don’t doubt that his top dairyman is worth than kind of money, it is not something to really be applauded as a comparator. For the majority of the population, a salary of £40,000 is a massive achievement so why are we celebrating Eavis as some kind of martyr for taking such a ‘low’ salary?  Don’t forget he has the farm income too….

Don’t get me wrong here, I am not saying he shouldn’t earn that kind of money or that he isn’t worth it because I firmly believe that he is but rather I am frustrated that the news has made it into a story.

Now the not carrying any funds forward concerns me more. It is simply an unsustainable model to always be working on a zero base budget and perhaps indicates a complacency within the senior leadership team that they will always sell out. I am sure that their Finance Director ensures that they have sufficient funds to meet the 150-strong payroll throughout the year so really they do carry forward.

Again, the majority of festival and event projects are only working on a zero base budget because, as growing projects, they have to. Most have to employ all kinds of strategies to make ends meet and certainly don’t pay their CEO £60k! It is brilliant that Glastonbury gives £2m per year to charity but remember that the charities also support them with volunteers and staffing.

So yes great that Glastonbury and Michael Eavis are doing good things and that they have the financial wear withal to do so but let’s not make it into something it isn’t. Their situation is not indicative of the industry and as market leaders they should be encouraging good practice, not profligacy.


Claire Eason Bassett, Managing Director, Mackerel Sky

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s