Germany: managers saw their wages drop by 21% in 2008 following the crisis

he German small shareholders association (Deutsche Schutzvereinigung fur Wertpapierbesitz – DSW), published on September 3, shows that the remuneration of the managers of large businesses listed on the DAX dropped of 20.58% in 2008, under the influence of the global crisis. According to the DSW, it isn’t necessary to limit wages but businesses still have a lot to do to implement the new law on managers’ wages (VorstAG), enforced on August 5. (Ref. 090820)

Wages are “not excessive.” Taking a sta