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Topics: Money Advice Service| Parliament| Treasury
The Money Advice Service's (MAS) senior management team shared a bonus of more than £100,000 in 2010/11, it has been revealed.
In a letter to MP Chris Leslie, MAS chief executive Tony Hobman confirmed the 'Senior Management Team' received total bonuses of £101,000 and spent £1,700 on international travel.
The organisation was still known as the Consumer Financial Education Body during the period, before it was relaunched in April last year.
Leslie had asked for the information through a number of written question to the Treasury in December, which were then referred to MAS.
Hobman's letter also shows the organisation spent £40,000 in 2011/12 on legal advice in relation to the organisational changes currently being consulted on with staff, which is likely to cut 60 roles from its 140-strong workforce.
Meanwhile, he broke down the costs involved in spreading awareness of the MAS so far in 2011/12, with £2.5m going on advertising, including TV, online and outdoor media spend, £197,529 on public relations and £573,454 on other marketing costs.
Hobman also addressed MAS' role in improving the provision of financial education in the education system and the workplace.
"We will take a strategic oversight role of financial education for young people, working with industry and other organisations to encourage resources to be most effectively deployed," he wrote.
"We are currently reviewing activity regarding financial education for young people and the results of this review, which we expect will be completed by end June 2012, will inform further work.
In December, Hobman revealed to MPs that he receives an annual salary of £250,000, with additional benefits.
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MAS and bonuses
and Ill give up half a day to present on behalf of the MAS and cannot even claim back for the parking costs never mind my time..... there are givers and then there are takers
Posted by: Gary Plein
Takes the "P"
**!!!! ???? ***!???XX (Speechless)
Posted by: The partnership
International Travel
Hmm, what kind of International Travel is required to market or otherwise promote the MAS? Why would you get a bonus for not producing anything either? It is a fantastic job being head of or management of a "business" where you do not have to earn any money to keep it solvent. Just write to the golden geese that you are trying to squash and ask them to:- Send more money - plane tickets required? What a joke.
Posted by: dwinsal
For goodness sake!
This is a Quango. Who is there to monitor what goes on? Or are the completely free to do as they wish? Does the NAE or the Cabinet Office or the Treasury have a role? If not, why not? 1. It is not MAS as there is no advice. It is an information service which in the main is reactive. 2. It is our money that funds it. 3. What sort of senior management do you need for a web site and a call centre (that doesn’t receive that many calls) 4. For how many members of the public have they actually provided information? Don’t count hits on the web site, as I and other IFAs use it for a monitoring and comparison site – from which we sometimes provide – ADVICE! I shan't explode with epithets; suffice it to say I’m just as angry as others who have posted
Posted by: Harry Katz
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Rather excessive
I can't help thinking Hobson's salary of £250k plus benefits and bonuses is rather high for what amounts to a bureaucratic role. Isn't it about time that the Prime Minister's salary was used as a guide to cap the salaries of these public servants in these austere times.
Posted by: Malcolm Coury