If fact finding 2019 he did take a pay cut, so £117k as @BritishLibrary said.
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Ah that screen grab looks like their official PDF online.
like a fool I went searching line by line in the gov.uk version. Clearly companies house need a better scanner:
I honestly would have thought it would be higher!
I love Monzo and don’t want to be controversial, I’m an early adopter and an investor but, it’s pretty disappointing that the CEO Tom has decided to furlough some of the staff.
Tom you’ve personally made £100 million+ from Monzo; pay the staff you can afford it.
This scheme is for businesses that cant afford to pay the staff, you can.
The idea of this scheme was for struggling businesses that literally could not afford to pay their staff to get through the crisis, not for you to make some extra money in these difficult few months.
Of course some people may not want work whilst at home as kids are out of school ect… but are you asking the taxpayer to pay when it seems you don’t need to?
Oh, you’re giving up the odd £100K/yr salary for a few months (thats 25K if 3 months) wow impressive!
Are people really buying this story…?
Afaik the vast majority of Tom’s salary is made up of share options, his cash wage is very low for a CEO
Was it £100k this year and £60k the year before. That wouldn’t pay many staff
The company isn’t profitable
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It’s also worth pointing out that the furlough is voluntary and only up to 2500 a month, which I have been told (too lazy to do my own maths) is about a £30,000 annual salary. Many highly skilled members of staff are on much more but have chosen to be furloughed in order to reduce redundancies and help the company in which they are heavily invested through stock options through a difficult time.
Monzo makes most of its money through interchange, particularly foreign interchange, which has fallen off a cliff.
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How do you know?
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made 100 million… hmmmmm … 
didnt notice his £100 million last time I saw him
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Where is this number pulled from?
If you’re referring to his wealth, then I’m pretty sure that’s all tied up in Monzo stock, also all you’re doing is shifting the debt to the company down the line.
Furloughing staff isn’t a negative, people I’ve spoken to have seen it as a benefit.
Also, 100 people taking furlough will save £250,000 a month for Monzo. Seems a no brainier imo.
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In my opinion, the furlough scheme is being used in exactly the spirit intended by the government. If these employees weren’t furloughed, they would be made redundant and have no job to return to.
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You don’t think tax payers should pay to help out other tax payers that might lose their job?
By your logic, if an Amazon warehouse had to shut down, you think those employees shouldn’t be furloughed because Jess Bezos is very wealthy?
Also, 100 people taking furlough will save £250,000 a month for Monzo. Seems a no brainier imo.
Yes it makes sense for them to do it! but is it right?
When you have made £100m+ to ask for £250k from the taxpayer.
Why is it that we criticise Branson, and the Football club owners for pretty much the same reasons, but Monzo gets a free pass.
By your logic, if an Amazon warehouse had to shut down, you think those employees shouldn’t be furloughed because Jess Bezos is very wealthy?
They probably would be but it would raise a few eyebrows at least, see below;
https://www.youtube.com/watch?v=uWdKX1BZZs0
Because he hasn’t made £100+ million?
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Can you please clarify this 100m+ value?
Also, the tax payer have bailed out banks in the past, and so we’re not giving them a pass on it again. Monzo is a new bank, and hasn’t benefitted from taxpayer money as far as I’m aware?
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Monzo’s stock, which makes up the vast majority of Tom’s renumeration, is not publicly traded and is extremely illiquid.
He can’t magically turn that stock into cash.
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Airlines get criticised because they’ve spent loads of money since 2008 on stock buyback schemes and dividends, instead of building up cash reserves for moments like these.
Football clubs are I think misunderstood - many of them will be suffering cash flow problems because if they can’t play, they don’t have money coming in. Many clubs have little to no cash reserves. There are a lot of discussions between the various league and club associations going on about what to do next.
Monzo are a loss-making start-up, pretty much the target market for the furlough scheme.
(Jeff Bezos is a knob, asking the public to donate to a relief fund for Amazon workers? FFS.)
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Just now seen that at least one club, Liverpool, have backtracked and are not using the furlough scheme after all:
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Yeah as a liverpool fan i was ashamed to see they were using this scheme.
Using taxpayers money to pay salarys of non-playing staff when they made a pre tax profit of like 52mill last year really was miserable.
Glad they changed their minds
Aren’t some of the clubs still paying their players too???
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I assume the clubs are worried that not paying players could backfire later down the line. There’s a lot of player power - players would have to be receptive of the cuts. Handled badly, a club could find itself in a situation where once things start up again, lots of players put transfer requests in because they’re upset at the money they’ve lost.
I also think that a lot of players behind the scenes are sacrificing salaray or making donations already and that we’re just not hearing about it (yet).
tl;dr, as ever, people are complicated
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