Jennifer Westacott Salary & Net Worth 2023

Jennifer Westacott is one of the most influential and respected business leaders in Australia. She is the chief executive of the Business Council of Australia (BCA), the chancellor of Western Sydney University, and a non-executive director of Wesfarmers. She has a long and distinguished career in both the public and private sectors, and has been recognised for her service to policy development, reform, equity and business.

But how much does Jennifer Westacott earn as the head of the BCA, and what is her net worth? In this article, we will reveal the salary, net worth and full details of Jennifer Westacott in 2023.

Jennifer Westacott Salary

The Business Council of Australia is the nation’s premier business organisation, representing the interests of more than 100 of Australia’s largest companies. The BCA advocates for policies that promote economic growth, competitiveness, innovation and social progress.

As the chief executive of the BCA since 2011, Jennifer Westacott is responsible for leading the organisation’s policy development, advocacy and engagement with government, business and the community. She also represents the BCA on various national and international forums, such as the G20 Business Summit, the World Economic Forum and the Asia Business Leaders Advisory Council.

According to the latest available financial report of the BCA for the year ended 30 June 2020, Jennifer Westacott received a total remuneration of $1,144,000. This includes a base salary of $920,000, a performance bonus of $200,000 and superannuation contributions of $24,000. This was an increase of 4.8% from her total remuneration of $1,091,000 in 2019.

Jennifer Westacott Net Worth

Jennifer Westacott’s net worth is not publicly disclosed, but we can estimate it based on her salary, assets and investments. Assuming that she has been earning an average annual salary of $1 million since 2011 as the chief executive of the BCA, she would have accumulated about $12 million in income before tax. After deducting tax at an average rate of 45%, she would have about $6.6 million in net income.

Jennifer Westacott also owns a property in Sydney’s eastern suburbs, which she bought for $2.65 million in 2014. According to Domain, the median house price in Woollahra, where her property is located, was $3.7 million as of March 2021. Assuming that her property has appreciated at the same rate as the median house price in Woollahra, it would be worth about $4.6 million in 2023.

Jennifer Westacott is also a non-executive director of Wesfarmers Limited⁵, one of Australia’s largest diversified companies with businesses in retail, industrial and resources sectors. According to Wesfarmers’ annual report for 2020, Jennifer Westacott received a total remuneration of $224,000 as a non-executive director. This includes fees of $180,000 and superannuation contributions of $44,000. She also holds 5,000 shares in Wesfarmers Limited, which were worth $260,500 as of 31 December 2020.

Based on these estimates, Jennifer Westacott’s net worth in 2023 would be around $11.7 million. This is calculated by adding her net income ($6.6 million), her property value ($4.6 million) and her Wesfarmers shares ($260,500).

Jennifer Westacott career

Jennifer Westacott was born in 1962 in Springfield, New South Wales. She completed her secondary education at Henry Kendall High School and graduated with a Bachelor of Arts (Honours) from the University of New South Wales. She also holds a Graduate Management Certificate from the Monash Mt Eliza Business School and was a Chevening Scholar at the London School of Economics.

Jennifer Westacott began her career in the public sector, working in senior leadership positions in the NSW and Victorian governments. She served as the Director General of the NSW Department of Infrastructure, Planning and Natural Resources; the Secretary of the Victorian Department of Education and Training; and the Director of Housing in Victoria. She was also the Deputy Director General of the NSW Department of Community Services and the NSW Department of Housing.

In 2005, Jennifer Westacott joined KPMG as a senior partner in Sydney. She advised major corporations on climate change and sustainability issues and governments across Australia on significant reform priorities. She left KPMG in 2011 to become the chief executive of the Business Council of Australia.

In addition to her role at the BCA, Jennifer Westacott is also the chancellor of Western Sydney University since 2023, the inaugural chair of the Western Parkland City Authority since 2018, and a non-executive director of Wesfarmers Limited since 2013. She is also the chair of the board of Studio Schools of Australia, a patron of Mental Health Australia, the co-patron of Pride in Diversity, and a patron of the Pinnacle Foundation.

Jennifer Westacott has received several awards and honours for her achievements and contributions. She received an honorary doctorate from the University of New South Wales in 2017 and was made an Officer of the Order of Australia (AO) in 2018. She was also named as one of the Australian Financial Review’s 100 Women of Influence in 2012 and one of The Australian’s 50 Most Powerful People in Business in 2020.

Jennifer Westacott is in a long-term relationship with her partner, Tess Shannon, whom she describes as her best friend and soul mate. She is an avid reader, a fan of classical music and opera, and a supporter of the Sydney Swans AFL team.

FAQ

Q1: What is Jennifer Westacott’s salary as the chief executive of the Business Council of Australia?

A1: Jennifer Westacott’s salary as the chief executive of the BCA was $1,144,000 in 2020, which includes a base salary of $920,000, a performance bonus of $200,000 and superannuation contributions of $24,000.

Q2: What is Jennifer Westacott’s net worth in 2023?

A2: Jennifer Westacott’s net worth in 2023 is estimated to be around $11.7 million, based on her salary, property value and Wesfarmers shares.

Q3: What is Jennifer Westacott’s role at Western Sydney University?

A3: Jennifer Westacott is the chancellor of Western Sydney University since 2023. She is the university’s fourth chancellor and the first woman to serve in the role.

Q4: What is Jennifer Westacott’s role at Wesfarmers Limited?

A4: Jennifer Westacott is a non-executive director of Wesfarmers Limited since 2013. She is also a member of the audit and risk committee and the nomination committee.

Q5: What is Jennifer Westacott’s role at the Western Parkland City Authority?

A5: Jennifer Westacott is the inaugural chair of the Western Parkland City Authority since 2018. The authority is responsible for overseeing the design and delivery of the Western Sydney Aerotropolis and integrated delivery across the Western Parkland City, a region that comprises 38 per cent of Greater Sydney’s area.

Q6: What are some of Jennifer Westacott’s achievements and awards?

A6: Some of Jennifer Westacott’s achievements and awards are:

• She received an honorary doctorate from the University of New South Wales in 2017.
• She was made an Officer of the Order of Australia (AO) in 2018 for her service to policy development, reform, cross sector collaboration, equity and business.
• She was named as one of the Australian Financial Review’s 100 Women of Influence in 2012.
• She was named as one of The Australian’s 50 Most Powerful People in Business in 2020.

Q7: Who is Jennifer Westacott’s partner?

A7: Jennifer Westacott’s partner is Tess Shannon, whom she has been in a relationship with for 35 years. Tess Shannon is a former public servant who worked in senior roles in health and education.

Q8: What are some of Jennifer Westacott’s hobbies and interests?

A8: Some of Jennifer Westacott’s hobbies and interests are:

• She is an avid reader who enjoys books on history, politics, biography and fiction.
• She is a fan of classical music and opera and attends concerts regularly.
• She is a supporter of the Sydney Swans AFL team and attends their games when possible.

Q9: Where did Jennifer Westacott grow up and study?

A9: Jennifer Westacott grew up in Springfield, New South Wales. She completed her secondary education at Henry Kendall High School. She graduated with a Bachelor of Arts (Honours) from the University of New South Wales. She also holds a Graduate Management Certificate from the Monash Mt Eliza Business School and was a Chevening Scholar at the London School of Economics.

Q10: How can I contact Jennifer Westacott or follow her on social media?

A10: You can contact Jennifer Westacott or follow her on social media through the following channels:

• Email: You can send an email to Jennifer Westacott at jennifer.westacott@bca.com.au.
• Phone: You can call Jennifer Westacott at +61 2 8224 9200, which is the phone number of the Business Council of Australia.
• Twitter: You can follow Jennifer Westacott on Twitter at @jenniferwestacc, where she posts updates on her work and views on various issues.
• LinkedIn: You can connect with Jennifer Westacott on LinkedIn at [Jennifer Westacott AO], where she shares her professional profile and achievements.