The New Closed Shop: Who’s Deciding on Pay?
This latest report from the High Pay Centre looks at the remuneration committees that set board level executive pay in FTSE 100 companies.
The study, The New Closed Shop: Who’s Deciding on Pay? found that, of 366 people who sit on remuneration committees which set lead pay for top executives, just 10% - 37 members - were not from business or financial intermediation. It also found that only 59, or 16% of the total, are women.
· 46% of people sitting on remuneration committees are current or former lead executives
· 41 out of 366 remuneration committee members are current lead executives
· 33% of FTSE 100 companies have a current lead executive on the remuneration committee.
· 9% of FTSE 100 companies have a current FTSE 100 lead executive on the remuneration committee.
Since 1 January 2018 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- Are Chief Executives overpaid? Blog by HPC founder Deborah Hargreaves
Author of new book on top pay calls for a new corporate ethos - contact HPC to attend the launch on 11 October
- HPC at party conferences
Come to our events at Labour and Conservative Party conferences
- HPC response to consultation on the Wates Principles for the governance of privately-owned companies
Large private companies should be subject to the same high standards of stakeholder engagement as publicly-listed counterparts