ANZ and Westpac shed some more light on the pay packets of their top executives in their 2011 annual reports on Friday. Both reports provide a "management accounts" view of executive pay in addition to the "statutory accounts" reports that tend to exaggerate short-term pay arrangements.Only ANZ's report provides an adequate prior-year comparison under the management account method. That report shows that prominent executives earning a little less in 2011 than in 2010 were the CEO, Mike Smith (down to $5.0 million from $5.5 million); the head of institutional, Shayne Elliot (down $700,000 to $1.7 million) and the head of Asia (down $400,000 to $2.0 million).Several executives working in central roles received minor pay rises. They included deputy CEO Graham Hodges (up $40,000 to $1.7 million), CFO Peter Marriott (up $150,000 to $1.8 milllion) and chief risk officer Chris Page (up $40,000 to $2.0 million).The ANZ annual report omits the abbreviated performance checklist for Mike Smith that it provided last year, leaving readers in the dark over the reasons other corporate office executives qualified for a rise while he took a pay cut.Smith did qualify for a board recommendation for a $3.15 million share bonus that shareholders will be asked to confirm at the annual meeting next month. A year ago the board proposed a share bonus of $3.0 million.At Westpac it's unclear whether the pay of top executives went up or down in 2011 under the management method of reporting.Of 12 executives whose short-term payments are listed under the statutory accounting method, the bank reduced the short-term bonus for 11, including that of CEO Gail Kelly.Only the chief risk officer, Greg Targett, qualified for a small rise in his bonus (from $700,000 to $830,000, taking his pay packet to $2.0 million).