05.01.23
High Pay Hour 2023
HPC research shows how quickly FTSE 100 CEOs overtake the annual salary of a UK worker.
This website houses research publications, blogs, information about our latest events, and related media articles. Subscribe for occasional updates on our work.
PAY COUNTER
Since 1 January 2022 the average FTSE 100 CEO has earned:
£303,270
A think tank for fairer pay, worker voice and better business
This website houses research publications, blogs, information about our latest events, and related media articles. Subscribe for occasional updates on our work.
PAY COUNTER
Since 1 January 2022 the average FTSE 100 CEO has earned:
£303,270
Featured
03.01.23
2022 in review
Read our review of 2022, and a summary of our reports, articles and media coverage below
16.12.22
Worthwhile Workforce Reporting
Our new research outlines the principles of good reporting, with supporting examples.
Latest updates
Our campaigns
Worker representation
Worker representation on boards and remuneration committees should be mandatory for all major companies. Worker representation can help to ensure that the interests and views of workers are taken into account on issues including pay and conditions. It can improve decision making by increasing diversity of thought and experience. In countries such as Germany where these policies already exist, there is lower inequality and evidence of companies having a better record of acting in the public interest.
Purpose beyond profit
There is an urgent need for us to move from a stakeholder to a shareholder model of capitalism. From Davos to the Business Roundtable, some of the world’s most powerful businesspeople are also calling for this. This now needs to move from action to words. In the UK we advocate reforming the Companies Act to change the responsibilities of directors from being legally required to prioritise shareholders to one where the interests of workers, consumers, wider society and the environment are given equal priority.
Trade Union Rights
There is strong evidence of a correlation between the strength of trade unions in a country and lower inequality. In the UK the gap between the lowest and highest paid at listed companies began to grow rapidly in the 1980’s with the introduction of anti-union legislation and the decline of trade union membership which has followed. This trend only began to slow down following the 2008 global economic crisis. While trade union membership in the UK has increased in the past three years, levels remain low compared to comparable European countries. We believe that expanding trade union and collective bargaining coverage is crucial to tackling the twin scourge of low pay and excessive executive pay.
Recent Media Coverage
- FTSE 100 companies' staff suffer real-terms pay cuts - Financial Times
- Brexit exodus helps drive record number in EU banks paid €1m-plus - The Guardian
- Terry Smith paid £36mn as Fundsmith profits hit record - Financial Times
- Bet365 boss Denise Coates was paid more than £260m in year to March - The Guardian
- Britain's highest-paid boss takes a £27m pay cut – but still earns £271m - iNews
