Great news! A whole pile of money is coming your way following the success of the Pan Am Games.
Well, it’s great news if you’re one of the 53 executives who had a hand in running the event.
They’ll be splitting a $5.7 million pot. Some will even receive a $250,000 to $428,000 payout!
This wasn’t unexpected. Pan Am executives were signed on with the promise of bonuses (or “completion incentives”) to keep them from jumping ship early, but only if the Games were executed on time AND under budget.
Yes, the Games occurred without any real scheduling issues.
And as for the budget, Ontario minister Michael Coteau has recently announced that the Games came in $50 million under budget (one that totaled somewhere around $2 billion). However, we’re still waiting for the full budget report.
Some are asking if the provincial government didn’t inflate the budget well beyond what the event should have cost, knowing that they’d likely go over if the predictions were too realistic.
Do you think these 53 people deserve a hefty bonus on top of the years of pay they already earned? Why isn’t there a bonus for the thousands of volunteers, many of whom took time away from paying jobs to assist with the Games?