CEO Mitch Bainwol receives a $1.91 million in annual salary, with “other compensation" from the RIAA and “related organizations" offering another $123,000.
Over $2 million is a pretty astounding sum to take in when you're presiding over an organization that doesn't exactly qualify as a great success.
Even more infuriating, Bainwol was making about $1.5 million in 2006. That means that after 3 years of collecting copyright infringement claims that only amounted to about 2.4 % of what the RIAA spent on legal fees, the CEO was rewarded with a 33% pay increase to his already substantial income.
No disrespect to Mr. Bainwol. I'd imagine he's worked quite hard to get where he is, but can he and the RIAA really justify his paycheck when they aren't able to successfully protect intellectual property?
Furthermore, where is all this money coming from? Are they printing it themselves? The music industry is supposed to be struggling!
