Paul Reynolds’ $7 million compensation has drawn all the headlines, but the telcos “lesser” salary bands are surprisingly well populated.

Telecom’s FY09 annual report reveals that the telco has recently reduced labour costs by 4%, largely through a pay freeze and head count reduction.

The report shows 2,865 of Telecom’s 8500 employees across Australasia earning more than $100,000.

For FY08, membership of the $100K+ club was a little lower at 2,505.

The full line-up for FY09:

See also:
Did Reynolds collect millions by hitting squishy targets?
Telecom defends "the bargain $5 million"
How Reynolds' pay packet stacks up against competitors