No change there, then
Contrary to what you may have been told, top pay is still rising fast
CEO pay continues to rise. Analysis of disclosures by 71 FTSE 100 companies which have reported on their FYE 2015 reveals that most CEOs have received an increase in the “single figure” measure of CEO pay at the UK's largest listed companies.
The High Pay Centre has analysed the pay disclosures for 71 companies which have reported so far this year and are FTSE 100 members.
The HPC analysis shows that out of 71 FTSE 100 companies 40 reported a higher single figure for FYE 2015 than the amount reported for financial year ending 2014. Amongst the CEOs receiving a generous increase in take home pay were a CEO (Reckitt Benckiser) who got over £10m more than their previous year’s pay and one CEO (Shire) whose pay was over £12m more than 2014.
Stefan Stern of the HPC said: “The evidence which is coming directly from companies' own annual reports is that the 20 year rising trend in top company pay continues unabated. The UK’s new disclosure rules now allow investors to observe this as it happens, but the latent power possessed by investors to call a halt to these excessive rewards remains unexercised.”
The High Pay Centre’s analysis used the restated figures for 2014 for the purposes of comparison. Many of the 71 companies reported a higher figure for 2014 than was originally reported in their 2014 Annual Report.
Since 1 January 2017 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- Full text of joint CIPD/HPC submission to UK BEIS department Feb 2017
This unprecedented joint submission signifies the importance of this moment: an opportunity to make meaningful, lasting reforms to executive pay and boardroom culture and practice
- Joint HPC/CIPD response to government corporate governance green paper
Reform of pay and governance structures matter to all employees. We are pleased to make a joint submission with the CIPD
- Fat Cat Wednesday 2017
Welcome back to work. FTSE100 bosses will have already clocked up an average annual UK salary by lunchtime today.