The RIAA is under fire for paying top boss Mitch Bainwol over $2 million in 2008. A report published yesterday (7/12) in Digital Music News broke the story, questioning whether such an extravagant salary was justifiable for someone leading the trade group of a suffering industry.
Now the RIAA has responded, saying that it is a competitive rate of compensation for a trade organization executive with Bainwol’s amount of experience. The organization also reports that Bainwol’s current salary is closer to $1.5 million.
Other qualms DMN found while digging through the RIAA’s 2008 tax documents: ten or more staffers and executives making between $200,000 and $1.33 million each, and exorbitant legal expenses totaling over $16 million.