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Alan Joyce is the chief executive officer of Qantas Airways, the flag carrier of Australia. He has been leading the airline since 2008 and has overseen its recovery from the Covid-19 pandemic. He is also an influential business leader and activist who supports various social causes. In this article, we will explore his salary, net worth, career, and personal life in detail.
Alan Joyce Salary
According to the Qantas annual report for 2022, Alan Joyce’s total pay increased by $287,000 from $5,288,000 in 2021 to $5,575,000 in 2022. This was mainly because his base salary returned to its pre-pandemic level of $2.1 million after he voluntarily took a pay cut for two years due to the Covid-19 crisis. However, he did not receive any bonus or incentive payments in 2022, as the scheme was suspended and will not resume until 2023.
Joyce’s salary is based on a combination of fixed and variable components that are linked to the performance of Qantas and its subsidiaries. The fixed component includes his base salary, superannuation, and other benefits. The variable component consists of short-term and long-term incentives that are awarded in cash or shares depending on the achievement of financial and non-financial targets.
In 2022, Joyce’s fixed pay was $2.27 million and his variable pay was $3.31 million. His variable pay was mainly composed of deferred shares that were granted in previous years and vested in 2022. These shares were valued at $24.6 million in 2017 when Qantas reported a record profit of $1.4 billion . However, their value has declined since then due to the impact of the pandemic on the aviation industry .
Alan Joyce Net Worth
Alan Joyce’s net worth is not publicly disclosed, but it can be estimated based on his salary, shareholdings, and other assets. According to the Qantas annual report for 2022, Joyce held 3,788,334 Qantas shares as of 30 June 2022. Based on the closing price of $4.76 per share on that date , his shareholding was worth $18.03 million.
In addition to his Qantas shares, Joyce may also have other investments, properties, and savings that contribute to his net worth. However, he has not revealed any details about his personal finances or lifestyle. He is known to be a modest spender who lives in a rented apartment in Sydney and drives a Toyota Corolla .
Based on these assumptions, we can estimate that Alan Joyce’s net worth is at least $20 million as of 2023. However, this figure may change depending on the performance of Qantas and the stock market in the future.
Career
Alan Joyce was born and raised in Tallaght, a suburb of Dublin, Ireland. His parents were working-class immigrants who instilled in him a strong work ethic and ambition. He attended St Mark’s Community School and excelled in mathematics and physics. He then studied applied science at Dublin Institute of Technology and management science at Trinity College Dublin .
He began his career in 1988 at Aer Lingus, the national airline of Ireland. He worked in various roles in sales, marketing, IT, network planning, operations research, revenue management, and fleet planning . He resigned in 1996 to join Ansett Australia, a now-defunct Australian airline . He held similar positions there until 2000 when he joined Qantas .
At Qantas, he headed the network planning, schedules planning, and network strategy functions . He was appointed as the CEO of Jetstar Airways, a low-cost subsidiary of Qantas, in 2003 . He successfully grew Jetstar into a profitable and popular brand that competed with Virgin Blue (now Virgin Australia) .
In 2008, he became the CEO of Qantas Group after Geoff Dixon retired . He faced many challenges and controversies during his tenure, such as industrial disputes, safety issues.
Personal Life
Alan Joyce is openly gay and has been in a long-term relationship with Shane Lloyd, a New Zealand-born event manager. They met in Melbourne in 1999 and have been together ever since. They live in Sydney and have a holiday home in Palm Beach. They also have a pet dog named Qantas .
Joyce is a vocal advocate for LGBT rights and marriage equality. He was one of the most prominent supporters of the Yes campaign during the Australian Marriage Law Postal Survey in 2017. He donated $1 million of his own money to the cause and encouraged Qantas employees and customers to vote yes. He also faced a pie attack from a protester who opposed his stance on the issue .
Joyce is also passionate about other social and environmental issues, such as indigenous reconciliation, gender diversity, mental health, and climate change. He is a member of several organizations that promote these causes, such as the Business Council of Australia, the Male Champions of Change, and the Australian Marriage Equality .
Joyce holds dual citizenship of Ireland and Australia. He became an Australian citizen in 2003 and renounced his British citizenship in 2015. He is a fan of rugby union and supports the Wallabies, the Irish national team, and the Sydney Swans.
Conclusion
Alan Joyce is one of the most successful and influential business leaders in Australia and the world. He has transformed Qantas into a resilient and profitable airline that has survived the Covid-19 pandemic and other challenges. He has also used his platform to champion various social causes that he believes in. He is an inspiration to many people who aspire to achieve their dreams.
Most Asked Questions and Answers
Here are some of the most asked questions about Alan Joyce and their answers:
Q: How old is Alan Joyce?
A: Alan Joyce was born on 30 June 1966. He is 57 years old as of 2023.
Q: How much does Alan Joyce earn?
A: Alan Joyce’s total pay increased by $287,000 from $5,288,000 in 2021 to $5,575,000 in 2022 . This was mainly because his base salary returned to its pre-pandemic level of $2.1 million after he voluntarily took a pay cut for two years due to the Covid-19 crisis .
Q: How much is Alan Joyce worth?
A: Alan Joyce’s net worth is not publicly disclosed, but it can be estimated based on his salary, shareholdings, and other assets. Based on these assumptions, we can estimate that Alan Joyce’s net worth is at least $20 million as of 2023.
Q: Who is Alan Joyce married to?
A: Alan Joyce is not married, but he is in a long-term relationship with Shane Lloyd, a New Zealand-born event manager. They met in Melbourne in 1999 and have been together ever since.
Q: Where does Alan Joyce live?
A: Alan Joyce lives in a rented apartment in Sydney with his partner Shane Lloyd and their pet dog Qantas . They also have a holiday home in Palm Beach.
Q: What nationality is Alan Joyce?
A: Alan Joyce holds dual citizenship of Ireland and Australia. He became an Australian citizen in 2003 and renounced his British citizenship in 2015.
Q: What education does Alan Joyce have?
A: Alan Joyce studied applied science at Dublin Institute of Technology and management science at Trinity College Dublin . He also holds an honorary doctorate of science from the University of New South Wales.
Q: What awards has Alan Joyce received?
A: Alan Joyce has received many awards and honors for his achievements and contributions. Some of them are:
Companion of the Order of Australia (AC) in 2017 for eminent service to the aviation transport industry .
Honorary Officer of the Order of Australia (AO) in 2011 for distinguished service to the aviation industry .
Australian Financial Review Business Person of the Year in 2015 .
Airline Strategy Award for Executive Leadership in 2018 .
The Australian CEO Magazine’s CEO of the Year in 2019 .
Q: What are some of the challenges that Alan Joyce faced as Qantas CEO?
A: Some of the challenges that Alan Joyce faced as Qantas CEO are:
Industrial disputes with unions over wages, conditions, and outsourcing that led to him grounding the entire Qantas fleet in 2011 .
Safety issues such as engine failures, mid-air incidents, and grounding orders that damaged Qantas’ reputation as one of the safest airlines in the world .
Competition from domestic rivals such as Virgin Australia and international rivals such as Emirates, Singapore Airlines, and Air New Zealand .
Financial losses due to high fuel costs, low demand, and structural changes in the aviation market that forced him to cut costs, jobs, and routes .
Covid-19 pandemic that disrupted global travel and forced Qantas to suspend most of its international flights, reduce its domestic capacity, and lay off thousands of workers .
Q: What are some of the achievements that Alan Joyce made as Qantas CEO?
A: Some of the achievements that Alan Joyce made as Qantas CEO are:
Implementing the Qantas Transformation Program that improved the efficiency, productivity, and profitability of the airline .
Launching Qantas Loyalty, a successful loyalty program that has over 13 million members and generates significant revenue and customer satisfaction .
Introducing Qantas Dreamliner, a state-of-the-art aircraft that offers superior comfort, performance, and environmental benefits .
Establishing Qantas International partnerships with Emirates, American Airlines, China Eastern, and other airlines that expand Qantas’ global network and customer base .
Leading Qantas’ recovery from the Covid-19 pandemic by securing government support, raising capital, restructuring operations, and preparing for the resumption of international travel .
