In a country where the average monthly salary for 2011 was NIS 8,735, the chairwoman of Israeli cable television giant HOT, Stella Handler, earned a jaw-dropping average monthly salary of 1.85 million shekels, the highest reported wage in Israel.
HOT said Handler’s earnings included stock and other options — not just her monthly salary.
Handler, who joined HOT in April 2011, earned a total annual salary of NIS 14.8 million, which included a NIS 2 million bonus and nearly NIS 11 million in stock-based compensation, according to the cable company’s annual financial report. By comparison, the average HOT employee earned NIS 9,217 per month, according to the Calcalist financial daily.
In 2011, HOT tripled its profit, reaching a total of NIS 341 million. Revenues were up by 3.37 percent, from NIS 3.25 in 2010 to NIS 3.37 in 2011. The company credits the increased earnings to a higher average revenue per subscriber, and growth in its telecommunications industry.