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Boardroom pay jumps 55 per cent in a year
FTSE 100 chief executives now earn almost £5m a year according to new research
Directors of FTSE 100 companies saw their earnings increase by 55 per cent in the year to June according to a new report, and the average FTSE 100 chief executive now earns £4.9m a year - almost 200 times the average wage.
The figures, which have prompted accusations of greed and a disregard for country's economic situation, were contained in the Directors Pay Report, published by the research body Incomes Data Services.
Business secretary Vince Cable, who has announced a government review of corporate behaviour and pay, promised to take a "close look" at the figures, which have outraged unions. TUC secretary general Brendan Barber said: "Don't they know that this is meant to be austerity Britain?"
While the basic pay for directors in the year to June rose just 3.6 per cent, bonus payments jumped by 34 per cent, there was a 73 per cent increase in the value of long-term incentive schemes and share options went up by 90 per cent.
Read a full report at the Guardian. ·
