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IFA increases the salaries of its top executives, DG now earns 215,000 euros

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The IFA has extended the contract of its Director General Damian McDonald and increased his salary as well as the salaries of the Association President and Vice-President.

A statement released today said the contract is for an indefinite period in accordance with applicable labor regulations and a clause has been agreed to terminate the contract should the need arise.

In addition, the organization’s Compensation Committee reviewed the Director General’s salary and decided to increase McDonald’s salary to €215,998 according to the salary table for the Secretary General of the Department of Agriculture, Food and Marine.

McDonald took up the position in 2016 with a salary of 185,000 euros.

The committee also reviewed the salaries of the presidential and vice-presidential positions. These salaries have remained the same since 2016.

These salaries now rise to 140,000 and 40,000 euros, respectively, from 120,000 and 35,000 euros.

Pay at the IFA was reviewed in 2015 after a pay scandal rocked the association, and details of the pay paid to its president, vice-president and later that year were provided by former IFA economist Con Lucey, who IFA presented a report with almost 50 recommendations.

The report detailed expenses and allowances within the IFA and showed that some former presidents had been paid more than €150,000 a year – including a severance payment equal to one year’s salary on leaving office – for a role performed by members as a is considered unpaid.

The association has since detailed the salaries paid to its president and vice-president.

According to the annual accounts filed by the association in December 2021, its total revenue for the year was €15.7 million, compared to €15.1 million in 2020.

The federation received €274,250 from the wage subsidy scheme, while its revenue from the European Equity Fund levies – levies collected by meat processors, markets and co-operatives on behalf of the federation – was €2.8 million, versus €2.7 million € raised in 2020. Its membership fees have increased from €5.6 million to €6.34 million after the association increased its membership fees by €10.

Total staff costs decreased from €5.58m to €4.9m for the year after spending €1.1m in 2020 on a restructuring program to reduce staff costs, while voluntary costs increased from €1.1m. € decreased to €431,000 in 2020.

The association’s most recent annual financial statements show an operating surplus of €1.5 million compared to an operating deficit of €1.9 million in 2020.

Its revenues included its broadband and telephony service sales of €5,758,659, membership dues of €6,364,980, European equity fund levies of €2,814,308, trust fund contributions of €330,000, investment dividend income of €46,804 and “other” income of €412,207, giving a total income of €15,726,958.

Figures up to 21 March 2021 show that expenses for the Brussels office have remained broadly flat at €440,000, while recruiting expenses have fallen from €326,416 to €226,760 while PR expenses have fallen are €549,009 to €151,866.

https://www.independent.ie/business/farming/news/ifa-news/ifa-increases-salaries-of-its-top-brass-dg-now-earning-215000-41545884.html IFA increases the salaries of its top executives, DG now earns 215,000 euros

Fry Electronics Team

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