Home Business Galán’s daily wage at Iberdrola multiplies by 2.4 times the minimum wage...

Galán’s daily wage at Iberdrola multiplies by 2.4 times the minimum wage of a worker in a whole year


The President of Iberdrola, Ignacio Sánchez Galán, received a total compensation of 13.84 million euros in 2023, 5.9% more than in 2022, according to the annual report on compensation published this Friday in the National Securities Market Commission (CNMV). emerges.

This amount means that the head of the electricity company, whose business is a regulated product because it represents a basic good in the daily life of citizens and companies, earns more than 37,900 euros in a single working day, 1.6 times more than the average Annual average salary of an employee in Spain or 2.4 times the minimum interprofessional salary in a whole year, which is 15,876 euros, divided into 14 payments of 1,134 euros per month. It is therefore not surprising that Sánchez Galán will have the luxury of calling the majority of Spaniards who try to pay the exorbitant electricity prices with regulated tariffs “fools”.

Sánchez Galán earned a salary of 6.47 million, 2% more than last year; Of this, 2.25 million euros were attributable to his salary, 3.25 million euros to variable remuneration and 567,000 euros to his remuneration as CEO.

Galán increased his salary as president of Iberdrola by almost 800,000 euros in 2023, compared to the average salary increase of 5,000 euros for the electricity company’s employees

Although the percentage increase in Ignacio Galán’s salary and the average salary per employee are very similar, at 5.94% versus 6.02%, the financial difference is catastrophic. While the average salary of an employee increased from 83,000 euros to 88,000 euros, that of the president of Iberdrola increased by 776,000 euros, from 13.060 million in 2022 to 13.836 million in 2024.

Galán’s salary also dwarfs that of the electrical multinational’s other managing director and CEO, Armando Martínez Martínez, despite the fact that he is also a millionaire. His annual salary is 4.07 million euros, more than three times less than that of Sánchez Galán.

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