It has happened again. Another financial Chief has been awarded an amazingly high pay hike, something that might get the authorities and the general public fuming again. We are not very happy ourselves!

Head of Standard Life Investments, Keith Skeoch has been apparently given a whopping 60% pay rise. Recently, the man wrote a letter to Lord Myners which detailed his company's efforts to combat excessive earnings, and he ended up collecting 2.1 Million Pounds for the year 2009, including a bonus of 1.65 Million. The 2008 figure, however, was a, dare we say, mere 1.3 Million Pounds.

Where this would go by the time 2010 ends is something we would all want to guess, and want for our pockets too!

Now, it is worth noting that Standard Life itself does not seem to be doing that well. Recently, the company reported a 1.5% loss in its before-tax operating profits for 2009, as compared to last year. And although the figure of 919 Million Pounds was much better than the 662 Million Pounds prediction put forward by analysts, it was still a loss!

In such a scenario, one is compelled to think about how wise is the decision taken by the company to award such a massive pay rise to its management. Overall as well, the economy is still unstable and very vulnerable. It therefore does not seem to make a lot of sense to pump money into salaries like this.

Maybe high-end Chiefs should give a thought or two to the economic condition the next time they decide to take a very heavy paycheck home. It would do us all good!