Remuneration Executive Management, Executive Directors, and Staff

To recruit and retain highly qualified staff, the World Bank Group has developed a compensation and benefits system designed to be internationally competitive, to reward performance, and to take into account the special needs of a multinational and largely expatriate staff. The Bank Group’s staff salary structure is reviewed annually by the Executive Directors and, if warranted, is adjusted on the basis of a comparison with salaries paid by private financial and industrial firms and by representative public sector agencies in the U.S. market. After analyses of updated comparator salaries, the Board approved an average increase in the salary structure of 3.5 percent for fiscal 2007, effective July 1, 2006, for Washington-based staff.

Executive Management

On June 25, 2007, the Executive Directors unanimously selected Robert B. Zoellick as President to take effect as of July 1, 2007. His annual salary (net of taxes) is $420,930.* As of June 30, 2007, the annual salaries (net of taxes) of executive management of the World Bank Group were as follows:

Name and Position	Salary ($)
Paul Wolfowitz, President	407,880^a
Graeme Wheeler, Managing Director	324,610
Vincenzo La Via, Chief Financial Officer	324,610
Lars Thunell, Executive Vice President, IFC	324,610
Juan Jose Daboub, Managing Director	311,000
Marwan Muasher, Senior Vice President, External Affairs	295,000
Vinod Thomas, Director General, IEG	293,720
Ana Palacio, Senior Vice President and World Bank Group General Counsel	293,700
Yukiko Omura, Executive Vice President, MIGA	261,910
a. In addition, a supplemental allowance of $73,010 was paid to cover expenses. Effective July 1, 2006, the remuneration was adjusted by the May–May Consumer Price Index for the Washington metropolitan area (4.2 percent).

Executive Directors

Upon the recommendation of the Board of Governors’ Committee on the Remuneration of Executive Directors, the Governors approved the remuneration of Executive Directors and their Alternates effective July 1, 2006, to be as follows: the remuneration of Executive Directors is $212,980 (net of tax); the remuneration of Alternate Executive Directors is $184,240 (net of tax).**

Staff Salary Structure (Washington, DC)

During the period July 1, 2006, to June 30, 2007, the salary structure (net of tax) for World Bank Group staff was as follows:

Grades	Minimum ($)	Market Reference ($)	Maximum ($)	Representative Job Titles	Staff at Grade Level (%)
A	23,290	30,270	39,340	Office Assistant	0.1
B	28,330	36,830	51,560	Team Assistant, Information Technician	1.1
C	34,830	45,280	63,400	Program Assistant, Information Assistant	12.0
D	40,290	52,370	73,320	Senior Program Assistant, Information Specialist, Budget Assistant	9.4
E	53,920	70,090	98,120	Analyst	10.1
F	71,910	93,480	130,870	Professional	18.2
G	95,210	123,780	173,290	Senior Professional	29.2
H	132,390	172,120	232,360	Manager, Lead Professional	16.5
I	182,000	236,800	275,400	Director, Senior Advisor	2.8
J	236,040	264,360	304,020	Vice President	0.4
K	260,260	295,140	324,610	Managing Director, Executive Vice President	0.1
Note: Because World Bank Group (WBG) staff, other than U.S. citizens, usually are not required to pay income taxes on their WBG compensation, the salaries are set on a net-of-tax basis, which is generally equivalent to the after-tax take-home pay of the employees of the comparator organizations and firms from which WBG salaries are derived. Only a few staff will reach the upper third of the salary range.
A supplemental allowance of $75,350 is paid to cover expenses. *These figures do not apply to the U.S. Executive Director and Alternate Executive Director, who are subject to statutory salary caps under U.S. law..

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Remuneration Executive Management, Executive Directors, and Staff