Whoever takes over from Yorkshire Forward boss Sir Graham Hall can expect to be paid a whopping £47,800 - for working just two days a week.

Sir Graham, the regeneration agency's current chairman, is set to step down from the role at the end of December.

His successor will enjoy a huge pay offer which works out as £459 a day - or £57 an hour - for a normal eight-hour shift.

Sir Graham began his career as an apprentice electrician with Yorkshire Electricity, before working his way up to become the company's chief executive.

In 2001 he was appointed by the Bank of England to its Court of directors. Sir Graham is also a former chairman and vice-chairman of the Confederation of British Industry.

His deputy, former YTV boss Richard Gregory, is currently favourite to take up the prominent position, which involves liaising with Government ministers.

A spokesman for Yorkshire Forward said: "We do have to attract a high calibre person with a strong business background.

"It is a role which needs somebody with a lot of experience and the necessary private sector experience to deliver the targets the Government sets for us and which we ourselves set."

Sir Graham, 59, who was knighted in the New Year Honours 2003 for services to business in the region, heads up a board tasked with boosting the region's economy.

The name of his replacement is likely to be announced this summer, with the successful candidate working alongside Mr Hall until he steps down at the end of the year.

Advertisements for the position, which will be for an initial three years, ask for candidates to be able to "demonstrate exceptional personal performance and skills in delivering results within successful and complex business environments".

Applicants have until March 21 to apply for the job.