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 2017 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- Reality Bites - average FTSE100 CEO pay package down 17% on previous year
Political pressure, public disapproval and campaigning all combined to restrain pay at the top in 2016. But what next?
- CIPD/High Pay Centre survey of FTSE100 CEO pay packages 2016
Our joint annual survey of the state of top pay in the FTSE100
- A government which has lost its purpose
High Pay Centre response to the Queen’s Speech – 21 June 2017