NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • Deloitte Fast 50
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Business

Creaming it: 6000 Fonterra staff earn at least $100,000

NZ Herald
16 Sep, 2018 01:56 AM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save
    Share this article
Autoplay in
5
Disable Autoplay
Cancel Video
Fonterra has faced intense investor scrutiny this year.

In case you missed it: This was one of the Herald's top stories on social media this week.

Nearly 6000 Fonterra workers are paid more than $100,000 - 750 more than in 2017.

One of the country's biggest employers, with 21,500 workers, also has 24 staff on at least $1 million - one less than in 2017.

The average annual salary in 2017 was $50,000.

The top earner at the co-op is, unsurprisingly, its chief executive.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Departing Fonterra boss Theo Spierings netted $8m in the year to June, slightly down from the $8.3m he banked during 2017.

There were 23 people below him earning over $1m and two who earned more than $3m.

Fonterra chief executive Theo Spierings. Photo / Jason Oxenham.
Fonterra chief executive Theo Spierings. Photo / Jason Oxenham.

The proportion of Fonterra staff who earned more than $100,000 grew in 2018.

Advertisement
Advertise with NZME.

Six thousand broke through that threshold in 2018, while the co-op's overall staff count only grew by 100 to 21,500.

According to financial statements, 5245 Fonterra staff earned more than $100,000 in 2017.

Air New Zealand, which employs 12,000 people, pays 4200 staff over $100,000.

Fonterra has reported a net loss of $196 million for the July year - its first annual loss since its inception in 2001.

Discover more

Business

Westland Milk lowers predicted payout range

06 Sep 05:30 AM
Business

Fonterra high flier jumps ship to join Synlait

07 Sep 05:01 PM
Business

Stellar share price performer heading for main board

07 Sep 01:05 AM
Personal Finance

Fonterra set for big fall in annual earnings

09 Sep 05:00 PM

The previous year's net profit was $745 million.

The co-op said its normalised earnings before interest and tax was $902 million, down 22 per cent.

Fonterra said its total cash payout for the year would be $6.79, comprising a Farmgate Milk Price $6.69 per kgMS and a 10c dividend.

Fonterra has reported a net loss of $196 million for the July year - its first annual loss since its inception in 2001.

The previous year's net profit was $745 million.

The co-op said its normalised earnings before interest and tax was $902 million, down 22 per cent.

Advertisement
Advertise with NZME.

Fonterra said its total cash payout for the year would be $6.79, comprising a Farmgate Milk Price $6.69 per kgMS and a 10c dividend.

Save
    Share this article

Latest from Business

Premium
Business

Opinion: What's holding back the housing market recovery

Premium
OpinionSasha Borissenko

Sasha Borissenko: Dressed to bill – the yays and nays of law firm fashion

Premium
Business

'Just the start': AI innovation aims to boost GP efficiency


Sponsored

Sponsored: More cash, less stress - a lending strategy for investors

Advertisement
Advertise with NZME.

Recommended for you

Lawson takes eighth in Belgium, comprehensively beats teammate Hadjar
Formula 1

Lawson takes eighth in Belgium, comprehensively beats teammate Hadjar

Family-built tours, Fiordland soul
Sponsored Stories

Family-built tours, Fiordland soul

Kiwi Erika Fairweather disqualified in defence of world freestyle title
Sport

Kiwi Erika Fairweather disqualified in defence of world freestyle title

Tactix break ANZ Premiership drought, defeat Mystics in grand final
Netball

Tactix break ANZ Premiership drought, defeat Mystics in grand final

'Vile, degrading': Predator contends teen victim wouldn't have visited if he was unhappy
New Zealand

'Vile, degrading': Predator contends teen victim wouldn't have visited if he was unhappy

Eight of the cheapest Asian city break destinations
Travel

Eight of the cheapest Asian city break destinations



Latest from Business

Premium
Premium
Opinion: What's holding back the housing market recovery
Business

Opinion: What's holding back the housing market recovery

Mortgage rates have been falling for 18 months, yet prices remain stagnant.

27 Jul 04:00 PM
Premium
Premium
Sasha Borissenko: Dressed to bill – the yays and nays of law firm fashion
Sasha Borissenko
OpinionSasha Borissenko

Sasha Borissenko: Dressed to bill – the yays and nays of law firm fashion

27 Jul 03:00 AM
Premium
Premium
'Just the start': AI innovation aims to boost GP efficiency
Business

'Just the start': AI innovation aims to boost GP efficiency

27 Jul 12:01 AM


Sponsored: More cash, less stress - a lending strategy for investors
Sponsored

Sponsored: More cash, less stress - a lending strategy for investors

22 Jul 07:56 AM

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
All Access. All in one subscription. From $2 per week
Subscribe now

All Access Weekly

From $2 per week
Pay just
$15.75
$2
per week ongoing
Subscribe now
BEST VALUE

All Access Annual

Pay just
$449
$49
per year ongoing
Subscribe now
Learn more
30
TOP
search by queryly Advanced Search