10/10/2003
Earnings for FTSE bosses rise 288% in 10 years: report
The average earnings of FTSE 100 company executives has gone up by 288% over the past 10 years - six times more than that of their employees – according to a report published today.
The figures on the growth in boardroom earnings were among the findings of the 'Directors' Pay Report 2003' published today by Incomes Data Services (IDS). The report analysed the salaries, annual bonus payments, long-term incentive plans and benefits of some 1,800 executive directors in Britain's top 350 listed companies, based on financial years ending in the 12 months to 30 June 2003.
The survey found that, taking all FTSE 350 directors together, salaries went up in the latest 12-month period by 9.2% on average, while total cash increased still faster by an average 12.9% - reflecting an upturn in bonus payments.
Around 62% of lead directors of FTSE 100 companies received total earnings of more than £1 million. According to the report, over the past decade the average earnings for British employees as a whole have grown by just over 45%.
However, the report noted: "Given this rapidly widening pay gap between the boardroom and the shopfloor, it is hardly surprising that the Association of Chartered Certified Accountants has recently urged that companies should be required to declare what their chief executives receive as a multiple of the pay of an average employee."
(gmcg)
The figures on the growth in boardroom earnings were among the findings of the 'Directors' Pay Report 2003' published today by Incomes Data Services (IDS). The report analysed the salaries, annual bonus payments, long-term incentive plans and benefits of some 1,800 executive directors in Britain's top 350 listed companies, based on financial years ending in the 12 months to 30 June 2003.
The survey found that, taking all FTSE 350 directors together, salaries went up in the latest 12-month period by 9.2% on average, while total cash increased still faster by an average 12.9% - reflecting an upturn in bonus payments.
Around 62% of lead directors of FTSE 100 companies received total earnings of more than £1 million. According to the report, over the past decade the average earnings for British employees as a whole have grown by just over 45%.
However, the report noted: "Given this rapidly widening pay gap between the boardroom and the shopfloor, it is hardly surprising that the Association of Chartered Certified Accountants has recently urged that companies should be required to declare what their chief executives receive as a multiple of the pay of an average employee."
(gmcg)
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10 March 2011
Lord Hutton Publishes Final Report On Pensions
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14 December 2009
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12 December 2013
Ipsa Confirm Pay Rise For MPs
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