These same levels of pay were prevalent during construction.
"There is a feeling high levels of pay have to be earned," he says.
The last government promised us 5 levels of pay progression for classroom teachers.
Ipsa initiatially considered letting MPs choose between different levels of pay.
His track record was strong, but it came with unsustainable levels of pay, as well as organizational challenges.
"Many senior bankers seemed still to be arguing that they deserved their precrisis levels of pay," the report said.
Similarly, companies that have dropped out of the FTSE 350 over the period were found to have significantly higher levels of pay than those that survived.
Our key recommendations are that, firstly, they will need to provide higher minimum levels of pay and better career prospects, enabled by higher skills.
Also speaking in Davos, the chancellor, George Osborne, said: "I think it is difficult to justify levels of pay in the financial sector compared to other industries".
It's also shocking that this is being done to curry favour with those on the highest levels of pay; the government is condoning inequality.
He adds: "What most co-op schools try to do is treat their staff very fairly, and subscribe to levels of pay that unions agree on".
