Nationwide AGM

bigadaj

dcs34 said:

bigadaj said:

Cabinet ministers get around £150k a year though....

The good ones could be earning far more in the private sector, though. Plenty of head teachers have six-figure salaries. Bit of a difference being responsible for the running of one school compared to being responsible for the running of all schools.  

Good luck to them, maybe they should change jobs. I believe that the 'super' heads earning the big six figure salaries will typically be overseeing a number of schools, would be rare for them to simply be involved with one. 

Sorcerer2018

I have been voting at the AGM for years, and tbh it's not going to make any difference if you vote against them, because they don't really listen anyway. 

reefer37

just voted in this years agm. THE GOOD THE BAD AND THE UGLY

THE UGLY
like most on here have been very disappointed and disgruntled in the massive rate cuts to savings rates. (so like most have moved my savings out). still use for banking and mortgage. 

THE GOOD
however on reading the report on pay at nationwide (normally increase for the sake of it).
i must say i was pleasantly suprised to see mr garner has not only dropped his performance pay this year but has also taken a reduction on basic pay and pension for 2020-2021. he takes alot of bashing in the press and on here but for once i like what i hear and see. so i felt i had to say for once i am please. (know it is covid19 related but still pleased)

THE BAD
although not all good as it appears he is the only director/board member at nationwide going the hole hog. others have not made any reduction at all and some only to pension or performance pay but without a cut in basic pay i feel this is just token offering for covid 19 to tick a box to say they have reduced or thought about it.
If the CEO can do 20% why cant the others.

Some will feel its fair others will no think tis still not enough but thought i would share my thoughts.

clivep

Looks as though my wife and I won't get to vote this year.

Thought they may have stopped sending us the voting info because we always vote against the remuneration packages!!!

Turns out we don't qualify as we didn't have £100 or more in our FlexAccount on 4th April (as not holding a small balance in there for cash withdrawals in currect conditions).

eskbanker

clivep said:

Looks as though my wife and I won't get to vote this year.

Thought they may have stopped sending us the voting info because we always vote against the remuneration packages!!!

Turns out we don't qualify as we didn't have £100 or more in our FlexAccount on 4th April (as not holding a small balance in there for cash withdrawals in currect conditions).

Genuinely curious - why would you stick with an organisation year after year if you're unhappy with how its management are remunerated, i.e. why not vote with your feet/wallet?

pafpcg

eskbanker said:

clivep said:

Looks as though my wife and I won't get to vote this year.

Thought they may have stopped sending us the voting info because we always vote against the remuneration packages!!!

Turns out we don't qualify as we didn't have £100 or more in our FlexAccount on 4th April (as not holding a small balance in there for cash withdrawals in currect conditions).

Genuinely curious - why would you stick with an organisation year after year if you're unhappy with how its management are remunerated, i.e. why not vote with your feet/wallet?

Perhaps some sentimental reason - it was the first account they opened together?  If it weren't the Nationwide, but a small local building society, then maybe it's ownership - "it's OUR building society" and that's why they continue to protest about the way it's being run?

Similar to the motives of some of those who voted against the de-mutualisation of building societies on the grounds that "my generation should not asset strip an organisation built by many previous generations and leave nothing for future generations".  Or am I being too much of an old hippy?

happybagger

eskbanker said:

Genuinely curious - why would you stick with an organisation year after year if you're unhappy with how its management are remunerated, i.e. why not vote with your feet/wallet?

Speaking for myself, I'm happy to leave £100 in there for the token vote, hardly going to put me into hardship. And you never know, one day if customers do start deserting they may offer some loyalty accounts.

The BSA yearbook last year (April 2019) had their average saving member with a balance of around £10,800

eskbanker

happybagger said:

eskbanker said:

Genuinely curious - why would you stick with an organisation year after year if you're unhappy with how its management are remunerated, i.e. why not vote with your feet/wallet?

Speaking for myself, I'm happy to leave £100 in there for the token vote, hardly going to put me into hardship. And you never know, one day if customers do start deserting they may offer some loyalty accounts.

The BSA yearbook last year (April 2019) had their average saving member with a balance of around £10,800

Fair enough - I can understand the rationale of keeping an account going with a view to benefiting from future loyalty offers, but doing so solely or largely for the privilege of voting would seem to be a pointless exercise!

clivep

eskbanker said:

Genuinely curious - why would you stick with an organisation year after year if you're unhappy with how its management are remunerated, i.e. why not vote with your feet/wallet?

We've had accounts with them for over 25 years.

They used to reward loyalty and as a mutual society acted in many ways to the benefit of the members.

Then the salaries of those at the top started to escalate and the society seemed to then be run in a way to maximise their bonuses. Concentrating on tempting in new customers and stuffing existing ones.

Regular saver now gone. 15 year Loyalty Saver pointless with new interest rate.

It's worth staying with them for the free FlexAccount travel insurance we still qualify for by cycling £750 through the account.