Top bosses still earn 117 times more
THE average fatcat boss pocketed over 117 times what a typical worker earned last year, says a report out today.
The £3.46million average for a FTSE 100 CEO was actually down 13% on 2017.
However, the figures still show a huge wealth divide within leading companies.
Large firms will have to begin publishing the pay ratios between their chief executive and average workers from now on.
However, the Chartered Institute of Personnel and Development and the High Pay Centre did their own calculations using last year’s annual reports.
They worked out that Jeff Fairburn, the now ex-boss of house builder Persimmon, earned 956 times more than its average worker.
Mr Fairburn quit amid criticism of a bonus bonanza, which saw him earn £38.9million last year.
Their report also highlighted the lack of top women leaders, with just six female FTSE 100 CEOs.
They earned a third less than their male counterparts on average – £3.25million compared to £4.8million.
John McDonnell, Labour’s Shadow Chancellor, voiced his disgust, saying: “Years of believing the market knows best has caused grotesque levels of inequality.”