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10% pay rise? That’ll do nicely

Our annual survey of FTSE100 CEO pay packages shows no end to the rise and rise in top pay

FTSE100 CEOs continue to see overall pay packages grow at a time of restraint for others, annual High Pay Centre research shows

“There is an irrational, unhealthy and growing gap between what these companies pay their workers and what they pay their bosses” – Theresa May, July 11th 2016

Average FTSE100 CEO is now receiving £5.5 million a year

An annual survey of FTSE100 CEO pay packages released today [8.8.2016] by the High Pay Centre reveals that rewards at the top continue to grow at a double digit rate.

The average FTSE100 CEO pay package was £5.48 million in 2015, up from £4.96 million in 2014.

As the new prime minister has indicated, the growing gap between rewards for those at the top and everyone else is hard to justify at a time when economic uncertainty is intense and corporate performance mixed.

Stefan Stern, director of the High Pay Centre, said: “There is apparently no end yet in sight to the rise and rise of FTSE100 CEO pay packages. In spite of the occasional flurry from more active shareholders, boards continue to award ever larger amounts of pay to their most senior executives.

“The High Pay Centre was delighted by Theresa May’s recent intervention on this issue. There now seems to be political will and momentum behind attempts to reform top pay.

“In particular we support two of her main proposals: that companies should be obliged to publish the ratio between the pay of the CEO and the average worker in the business, and that the voice of the ordinary employee must be heard in discussions over executive pay.

“Businesses could save themselves a lot of grief, and do something to restore their reputations, if they listened to workers first before awarding these bumper pay packages.  The question the outside world keeps asking is ‘How much?!’. How much better to try and answer that question internally first with concerned yet supportive employees?”


The State of Pay: High Pay Centre briefing on executive pay

Summary findings:

2015 2014
Company CEO Total pay £000 Company CEO Total pay £000
WPP Sir Martin Sorrell 70,416 WPP Sir Martin Sorrell 42,978
Berkeley Group Tony Pidgeley 23,296 Royal Dutch Shell Ben van Beuren 19,510
Reckitt Benckiser Rakesh Kapoor 23,190 Relx (Reed Elsevier) Erik Engstrom 16,176
Sky Jeremy Darroch 16,889 Tui Travel Peter Long 13,333
Shire Flemming Ornskov 14,638 Prudential Tidjane Thiam 11,834
BP Bob Dudley 13,296 Lloyds Banking Group Antonio Horta-Osorio 11,544
Relx (Reed Elsevier) Erik Engstrom 10,869 Reckitt Benckiser Rakesh Kapoor 11,237
Prudential Mike Wells 10,031 Hargreaves Lansdown Ian Gorham 10,608
Schroders Michael Dobson 8,905 Experian Don Robert 9,868
Lloyds Banking Group Antonio Horta-Osorio 8,773 BP  Bob Dudley 9,289

Download report

Posted on 7 August 2016

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