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FTSE 100 Directors Pay Up 21% 2013 vs 2012
« on: 13 October 2014 »

http://www.dailymail.co.uk/news/article-2790469/bankers-caused-crash-got-away-says-carney-bank-england-chief-says-bosses-paid-higher-price.html

Quote

TOP BOSSES' PAY SOARS AS STAFF FEEL SQUEEZE

Directors at Britain’s biggest companies saw their average earnings rise by a fifth last year despite a nationwide wage squeeze.

Boardroom executives at FTSE 100 companies pocketed huge bonuses, according to a survey published today by pay research group Incomes Data Services (IDS).

These helped push their average total earnings to £2.4million – 21 per cent higher than last year. The staggering sum is almost 100 times higher than the average wage of £26,500 per annum. FTSE 100 chief executives now typically earn 120 times more than their full-time staff, the report said.

Critics said the findings showed a ‘huge gap’ in pay levels between boardrooms and ordinary workers. Most British staff have seen their pay lag behind inflation since the financial crash. The basic salary for most FTSE 100 directors rose last year by 2.5 per cent – just below the 2.8 per cent level of inflation at the time, the IDS report said. Top directors also enjoyed a 12 per cent rise in bonuses.

FTSE 100 chief executives – who are generally the highest paid in any organisation – receive an average basic salary of £832,000 and an average bonus of £1million. They also benefit from share payouts of around £2million.

Deborah Hargreaves from the High Pay Centre think-tank said: ‘There’s a huge gap opening up. We’ve seen workforce wages stagnating across the board, while chief executives’ remuneration continues to go up. ‘This is not healthy for our economy, our country or our society.’
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