Blog
Surge in the Pay of FTSE100 Directors
13th October 2014
The BBC reports here that"Directors of the top 100 listed UK companies now earn 120 times the average sum earned by their employees, according to a report by Incomes Data Services (IDS)."
This staggering high figure includes the value of shares as well as cash payments. Median FTSE 10 director's total earnings last year were £2.4m whilst the median Chief Executive of a FTSE-100 listed company took home renumeration of £3.3m. According to the TUC, real wages in the UK have dropped on average by 8% in the past seven years.
The data adds fuel to the fire about the root causes of inequality and the diverging fortunes of people at different levels of the pay ladder as the economy tries to achieve a sustainable recovery.
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.