Originally posted as a column for Inside Housing on October 2.
For the first time since I can remember average housing association chief executive pay has fallen in real terms.
After years of spurious justifications for bumper pay rises and bonuses that alone is enough to make this year’s Inside Housing salary survey worthy of note.
Beyond that, though, the arguments for and against high pay and the legacy of past increases remain largely the same as in any other year.
No, it’s impossible to defend one pay package of almost £600,000, four more of over £300,000 and another four of over £250,000 at a time when tenants face austerity, the bedroom tax and universal credit.
And, no, boards should not be pretending that they are only paying what the market demands when that market rate is set mostly by housing associations themselves.