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MAS’ top earning director on £221k steps down

The Money Advice Service’s highest-earning director is to leave the organisation.

Marketing and service delivery director Karen Broughton, who earned a total pay package of £221,000 in 2013/14, is leaving in September to join Travelodge as sales and marketing director.

Her pay packet, revealed in the MAS annual review today, includes a basic salary of £162,000. She also received pension payments worth £16,000 and £43,000 in other benefits, including a £16,000 bonus.

Her total pay is up by 6 per cent from £208,000 in 2012/13.

Broughton is currently one of two MAS directors on a higher base salary than chief executive Caroline Rookes. Rookes earned a base salary of £141,000 and a total pay package of £163,000 in 2013/14.

The MAS says it is currently recruiting for a replacement for Broughton.

A spokeswoman for the MAS says: “Karen has made a fantastic contribution over the past three years in helping to establish the MAS. Her work in building, developing and promoting the website, telephone, webchat and face-to-face service have been instrumental in enabling the service to help hundreds of thousands of people every week.

“We’re sorry that Karen is leaving the service but pleased that such an exciting new opportunity has come up for her at Travelodge and wish her all the best for the future.”

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Derek Bradley ceo Panacea Adviser 10th July 2014 at 3:56 pm

    Ms Farnish’s work has begun. I assume this will be a drop in pay or rooms at £35p/n will need to sell like hot cakes to pay a similar salary.

  2. I have often heard the phrase ‘we need to pay high salaries to attract and retain quality staff’ used by MAS/FCA and many other quangos.

    Obviously this doesn’t work so how about reducing the packages for those at the top. This way you will attract those who are actually committed to role rather than seeing it as a stepping stone to something else.

  3. At least she didn’t go to a bank.

    MAS and the FCA seem to be a merry go round of top exec’s coming and going on ludicrously high salaries. No one seems to hang around long enough to have any stake in the decisions they make that effect the public and industry.

  4. Derek Bradley ceo Panacea Adviser 11th July 2014 at 10:08 am

    @Sean

    Like:)

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