‘UK ex­ec­u­tives earn 17pc less but still 132 times the aver­age’

New Straits Times - - Business -

LONDON:The aver­age an­nual pay packet of Bri­tain’s top ex­ec­u­tives fell by 17 per cent last year, but was still 132 times the aver­age full-time wage, ac­cord­ing to a re­port pub­lished yes­ter­day.

The study, by worker pres­sure groups High Pay Cen­tre and the Char­tered In­sti­tute of Per­son­nel and Devel­op­ment (CIPD), found that the aver­age pay of a chief ex­ec­u­tive of­fi­cer (CEO) at a FTSE 100 com­pany was £4.5 mil­lion (RM25.27 mil­lion) in the 2016 fi­nan­cial year, down from £5.4 mil­lion in 2015.

“Our re­view of FTSE 100 CEO pay pack­ages shows a sharp turn­around,” said the re­port.

“FTSE 100 CEOs have seen an over­all drop in pay pack­ages, es­pe­cially at the top end, though the gulf be­tween the high­est paid ex­ec­u­tives and the rest of the work­force still re­mains,” it said.

It would still take the aver­age full-time Bri­tish worker 132 years to earn this amount, with 60 of the FTSE 100 CEOs earn­ing more than 100 times the aver­age salary, ac­cord­ing to of­fi­cial fig­ures.

It also found there were just six women on the list, paid an aver­age of £2.6 mil­lion.

Buck­ing the trend was chem­i­cal gi­ant As­traZeneca’s Pas­cal So­riot, whose to­tal pay pack­age rose by al­most £5 mil­lion to £13 mil­lion last year. AFP

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