Bosses of the UK’s FTSE100 companies are paid 117x more than average employees
Latest statistics revealed that even with a decrease in difference, big bosses in the UK still earned substantially more than the average worker. The results showed that top tier execs earned an average of £901.30 an hour, compared to the average worker’s £14.37 per hour. This means that chief execs would earn more than an average full-time year’s salary in just three days.
To combat this inequality, over 250 employees of publicly listed companies face having to disclose the salary ratio between chief executives and average workers. Companies may also be forced to more fully explain executive wage and bonus polices in more detail.
The research was carried out by the High Pay Centre and CIPD who claimed that the UK is one of Europe’s most unequal countries. Experts predict that companies will soon seek shareholders approval for executive pay packages.