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26/07/2001
CEO salary revelation fuels calls for pay accountability
Adding further fuel to ‘fat cat’ allegations, a survey by a leading business magazine has found that chief executives in the UK are the best paid in Europe.
According to research from Management Today, the salaries of British bosses have risen by one third in the past two years, standing at an average of £509,019 per year, in comparison to French CEOs, who earn £382,128 - while their German counterparts come last on the list, earning on average only £298,223 per annum.
The revelations will add fresh impetus to recent calls for greater pay accountability as a result of the increasing wage disparity between the boardroom and the factory floor. British manufacturing employees are the lowest paid in comparison to typical salaries for the same position in France, Japan and the US.
TUC General Secretary John Monks said the results indicated that fat cat pays “shows no signs of letting up”.
(CL)
According to research from Management Today, the salaries of British bosses have risen by one third in the past two years, standing at an average of £509,019 per year, in comparison to French CEOs, who earn £382,128 - while their German counterparts come last on the list, earning on average only £298,223 per annum.
The revelations will add fresh impetus to recent calls for greater pay accountability as a result of the increasing wage disparity between the boardroom and the factory floor. British manufacturing employees are the lowest paid in comparison to typical salaries for the same position in France, Japan and the US.
TUC General Secretary John Monks said the results indicated that fat cat pays “shows no signs of letting up”.
(CL)
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