Ben Bernanke has earned more from one speech than he did last year at the Fed
During a 40-minute speech in Abu Dhabi yesterday, Ben Bernanke earned more money than he did last year leading the Fed, according to a report from Reuters. His talk at a conference sponsored by the National Bank of Abu Dhabi earned him “at least” $250,000, compared to his 2013 salary of $199,700. If his speaking engagements continue at this pace, which experts say is likely, Bernanke could quickly out-earn his salary for his entire eight-year stint at the Fed.
The move to the speaking circuit has a long and lucrative tradition among former chairman.
“I found that I could give a speech or two and I could earn what I had made at the Fed,” former Fed chief Paul Volcker told the New York Times (paywall). Volcker’s salary was $80,000 a year.
Bernanke’s salary was by no means low compared to the average worker in the United States. But he earned less than a member of Australia’s parliament. And he took home less than half the salary of European Central Bank Chief Mario Draghi, who made $518,264 last year. (The ECB’s Vice President and executive board members out-earned Bernanke as well.)
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