Jay Walder Vigintuples His Salary in Hong Kong


jay walder help point Jay Walder Vigintuples His Salary in Hong Kong
Ask my replacement. (MTA/Flickr)

In a new security filing, MTR Corporation reveals it will pay its new CEO $7.2 million when he starts in November, according to Bloomberg News. And to think people complained about Jay Walder’s compensation package when he was hired by the M.T.A.

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O.K., so it’s not as much as you might think. Those are Hong Kong dollars, which actually translates to $924,000 U.S., almost triple the $350,000 he was making here in New York. Not too shabby, though whether or not it’s enough to afford a three-bedroom in Hong Kong, we’re not sure. At the very least, he can still brag to his friends back home about being a multimillionaire.

He very well could be, too—The Journal reports that, after bonuses and stock options, Mr. Walder’s predecessor, Chow Chung Kong made $1.7 million U.S.  last year. He also leaves Mr. Walder a big conductor’s cap to fill. According to Bloomberg, the company’s stock rose 170 percent during the tenure of Sir Chow (he’s a knight of the British empire, too), when he oversaw the takeover of a rival Hong Kong railway and led the company’s global expansion.

Compared to the job he’s leaving behind, that should be easy.

mchaban [at] observer.com | @MC_NYC