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
- 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.