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June 7, 2013- By Steven E. Greer, MD
BatteryPark.TV obtained the list of salaries for 41 employees of the Battery Park City Authority. The list of salaries for the Chairman of the Board and other board members were not provided, and we are still seeking those.
The average salary for all 41 employees provided is $95,000. For the Director level and above. The average salary for those 17 employees is $139,000. Three executives earn more than $200,000. The benefits packages were not provided to us.
To put those senior executive salaries in perspective, a Director level employee at a top Wall Street bank pays anywhere from $100,000 to $130,000, with a year-end bonus. However, the reports that the “average banker at Goldman Sachs makes $600,000” is highly misleading. Those figures include topmost multimillionaire figures. The rank and file employee, even at prestigious Goldman Sachs, earns a modest base salary with a bonus less than $100,000.
For more perspective, the brightest people in college who then attend Harvard Law School, and are lucky enough to find a job given the 50% unemployment rate for law graduates, earn only $143,000, and work 14-hour or longer workdays. The job requirements are far more demanding than those of a BPCA employee.
Harvard Law graduates, and employees of Goldman Sachs art the Director level, all have impeccable academic credentials and resumes. The BPCA staff, “not so much”.
BatteryPark.TV recently reported on the title promotion and 45% salary raise of “Chief Operating Officer” Anne Fenton, who now earns $145,000. Despite having no training in “operating” a large organization like the BPCA, and despite being involved in the Asphalt Green scandals, she received this post.
To address the questionable hiring and promotion practices within the BPCA, the newly appointed Chairman and CEO, Dennis Mehiel, is forming a compensation committee. We have learned that the promotion of Ms. Fenton was made without his input, and that the compensation committee is a way to prevent further abuses of the system by political cronyism