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When Christopher Bailey took over as Burberry ’s CEO last year , it was predicted he’d be making some major dough— $17.3 million to be exact .

Nike Free Dynamo Christmas Deals, According to Fashionista , the estimated figure was a combination of base salary (which wasn’t too different from what he made as Burberry’s chief creative officer), bonuses, and a starting package of shares. Well, this month, the label released its annual report , and it turns out Bailey didn’t earn as much as experts forecasted. But don’t feel too bad for him, he’s still one of the highest-paid CEOs in the UK.

According to the report, Bailey took home approximately $12 million, which included his £1 million salary, £424,000 in benefits, a £1.8 million bonus, a £4.4 million co-investment plan, and £303,000 pension. 

Nike Free Dynamo Christmas Deals When news first broke about Bailey’s estimated income, several of Burberry’s shareholders expressed concern —saying his earnings were way too high and that it would attract the wrong kind of attention for the brand. But, apparently, that wasn’t the case. The same report revealed that Burberry brought in £2.5 billion last year.

2016 Nike Air Jordan 7 Retro GS Valentines Day AJ Sneakers Kids Basketball Shoes 705417-016 So say what you will about Bailey’s insanely high earnings—he’s clearly working hard for it.