FTSE 100 CEO Pay climbed to £4.964m in 2014
Salary of an average UK worker: £27,000 per annum.
Salary of an average FTSE 100 CEO: £4.96m.
Average UK workers, like you and me, earned 183 times less than the salaries of chief executives of Britain’s top-100 listed companies.
The average pay of a FTSE100 CEO was £4.96m in 2014, up from £4.12m in 2013.
According to research by High Pay Centre, CEOs of Britain’s top 100 companies earned on average £4.964m in 2014 compared to £4.923m a year before.
The research found that top FTSE 100 bosses earned 160 times the average UK worker in 2010 compared to 183 times in 2014.
High Pay Centre director Deborah Hargreaves said: “Pay packages of this size go far beyond what is sensible or necessary to reward and inspire top executives. It’s more likely that corporate governance structures in the UK are riddled with glaring weaknesses and conflicts of interest.
“The coalition government introduced some welcome reforms in 2013 that have at least enabled us to get a better understanding of the executive pay racket. However it’s clear that these reforms didn’t do nearly enough to start building a pay culture where everybody is rewarded fairly and proportionally for the work that they do.”
Here are key findings from the report:
- FTSE 100 CEO Pay climbed to £4.964m in 2014
- CEOs now paid approximately 183 times the average UK worker
- Top pay up significantly from £4.129m in 2010
- Findings will create pressure for further action to reduce gap between the super-rich and low and middle-income earners
- The top 10 highest-paid CEOs alone were paid over £156m between them
- Despite average CEO pay of nearly £5m, only a quarter of FTSE 100 companies are living wage accredited
- Average FTSE 100 CEO pay in 2014 was 183 times the earnings of the average full-time UK worker, up from 182 times in 2013 and 160 times in 2010
- Shareholders have the power to voice their opposition to executive pay policy at company AGMs, but the average vote against pay awards across the FTSE 100 was just 6.4%