The average boss of one of Britain’s top companies will on Thursday have
earned the same as the typical worker will make in the entire year,
according to a new report, stepping up pressure on companies ahead of
the annual reporting season.
Just three working days into 2018, pay for the average FTSE 100 chief executive will pass the median worker salary of 28,758 pounds, the report by the Chartered Institute of Personnel and Development (CIPD) and pressure group the High Pay Centre showed.
And that is despite the mean pay of FTSE 100 CEOs falling by about 17 percent in 2017 to 4.5 million pounds amid pressure from investors, the government and wider society for excessive pay to be reined in.
Even with that pay cut, the ratio of CEO pay to the pay of the average full-time worker is still 120:1, the report on “Fat Cat Thursday” showed, with the best-paid boss - advertising company WPP’s (WPP.L) Martin Sorrell - on 48.2 million pounds.
Just three working days into 2018, pay for the average FTSE 100 chief executive will pass the median worker salary of 28,758 pounds, the report by the Chartered Institute of Personnel and Development (CIPD) and pressure group the High Pay Centre showed.
And that is despite the mean pay of FTSE 100 CEOs falling by about 17 percent in 2017 to 4.5 million pounds amid pressure from investors, the government and wider society for excessive pay to be reined in.
Even with that pay cut, the ratio of CEO pay to the pay of the average full-time worker is still 120:1, the report on “Fat Cat Thursday” showed, with the best-paid boss - advertising company WPP’s (WPP.L) Martin Sorrell - on 48.2 million pounds.
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