Though pay dips, rocketing bonus covers it all. It has been reported that Telecom Chief Executive Mr. Paul Reynolds has been paid $2.1 million less than his 2009/10 financial year figure for the 12 months of his work ended June 30.

The reports have confirmed that the upside for his departing remained the $3.1 million performance-based bonus, which the Telecom boss has earned and is a part of his remuneration package for the financial year 2011/2012.

In the year 2010/11, Reynolds was paid his base salary of $1,750,000 along with special payments for his perks, including accommodation and travel costs worth $373,074. In the 2009/10 year, the Scotsman again brought in the same base salary of $1,750,000 but special payments amounted to $338,111.

According to Reynolds’ remuneration regime, the difference in his pay sheet changes with his performance in the year and the performance-based bonus that he earns. As per the same regime, he gets his bonus during the year after the one when he was awarded the same.

In April, the shareholders association also raised criticism against the amount that the telecom paid to its staff, because according to them, the company's salaries were very high whereas the performance of its shares was not much good.