British bosses are paid 183 times the size of the average worker
This is up from 160 times in 2010
The High Pay Centre revealed in a new report that chief executives at FTSE 100 companies earn on average £4.964 million ($7.78 million) in 2014. This means around 183 times the earnings of the average full-time UK worker.
This is up from 160 times in 2010 and from 182 in 2013.
The High Pay Centre said that the report "will create pressure for further action to reduce gap between the super rich and low and middle-income earners." It also pointed out that shareholders have the ability to vote against CEO pay packets, but only 6.4% of votes went objected to their proposed salaries at Annual General Meetings.
"Pay packages of this size go far beyond what is sensible or necessary to reward and inspire top executives," said High Pay Centre Director Deborah Hargreaves in a statement."
These are the report’s other findings:
• FTSE 100 CEO Pay climbed to £4.964 million in 2014
• CEOs now paid approximately 183 times the average UK worker
• Top pay up significantly from £4.129 million in 2010
• Findings will create pressure for further action to reduce gap between the super rich and low and middle-income earners
FTSE 100 CEO pay jumped to £4.964 million in 2014 according to a new report published today by the High Pay Centre think-tank.
• The top 10 highest-paid CEOs alone were paid over £156 million between them
• Despite average CEO pay of nearly £5 million, only a quarter of FTSE 100 companies are living wage accredited
• 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%