Three-year analysis of FTSE 100 pay and workforce practices finds CEO pay rose 33% from 2023 to 2025, alongside limited progress on worker voice and pay transparency.
This new report presents a three-year analysis of the Fair Reward Framework, assessing pay governance, workforce practices and reward outcomes across FTSE 100 companies between 2023 and 2025.
The Fair Reward Framework is a publicly accessible tool developed by the High Pay Centre and Minerva Analytics, and funded by the Church of England Pensions Board and other institutional investors. It brings together company-level data on executive pay, workforce practices and corporate governance indicators to support scrutiny of reward practices.
The analysis covers FTSE 100 companies over a three-year period and tracks changes across a range of indicators relating to pay distribution, workforce voice and transparency.
It finds that median FTSE 100 CEO pay increased by 33% over the period, from £4.53 million in 2023 to £6.02 million in 2025. Over the same period, the median CEO-to-median worker pay ratio increased from 93:1 to 100:1.
The report also examines indicators relating to worker voice and workforce participation in pay-setting processes. It finds that no FTSE 100 company appointed a worker director in any year between 2023 and 2025. Disclosure of how workers are consulted on executive pay increased from 7% in 2024 to 12% in 2025.
Other indicators show limited movement. Living Wage accreditation increased from 54% in 2023/24 to 55% in 2025. Reporting on contingent workers decreased from 12% in 2024 to 10% in 2025. Disclosure of trade union coverage remained at 17% in 2024 and 2025, compared with 19% in 2023.
The report provides a structured overview of how FTSE 100 companies approach pay governance and workforce-related disclosure over time, using publicly available data.