• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics Business

FTSE bosses income rises 10% to £5.5m on average per annum

City bosses have seen another huge yearly income rise, which will further anger the general population who are struggling by on stagnant wages. The news also comes as a recent study found that increased pay for businesses bosses does not necessarily improve the companies performance. This recent study, by the High Pay Centre, has revealed […]

Joe Mellor by Joe Mellor
2016-08-08 14:50
in Business, News
The London Economic

View of London

FacebookTwitterLinkedinEmailWhatsapp

City bosses have seen another huge yearly income rise, which will further anger the general population who are struggling by on stagnant wages.

The news also comes as a recent study found that increased pay for businesses bosses does not necessarily improve the companies performance.

This recent study, by the High Pay Centre, has revealed that chief execs of FTSE 100 firms saw their average income increase by ten per cent in 2015.

Shockingly, median pay rose to almost four million pounds a year. This is a staggering 144 times the median salary in Britain, which stands at £27,600. The huge difference in pay would indicate a widening between the super rich and the vast majority of the rest of the UK population.

New Prime Minister Theresa May has said she will crackdown on these huge boardroom salaries, and even talked of having shop floor workers on the boards of big businesses, but until something is don, it seems these fat cat salaries will swell even further.

May said, back in July, that there was an “irrational, unhealthy and growing gap” between bosses and their workforce, many who are struggling to get on the housing ladder, as home ownership continues to fall.

Stefan Stern, director of the High Pay Centre, said the report showed there was “no end yet in sight” to the rise of FTSE 100 pay packages. He said: “In particular, we support two of [the prime minister’s] main proposals: that companies should be obliged to publish the ratio between the pay of the chief executive and the average worker in the business; and that the voice of the ordinary employee must be heard in discussions over executive pay.”

RelatedPosts

P&O Ferries owner makes record profits after ‘shameless’ sackings

Finland’s dancing PM hits out at leak of ‘private’ party footage

US judges who sent kids to private jails ordered to pay out MILLIONS

Energy bills to SOAR in October as experts make final prediction

Pay increases for normal workers have been piecemeal as best and in the public sector pay freezes have been in place for many workers for a number of years, meaning a pay cut in real terms.

However, there has been a fight back by some companies, and shareholder revolts against excessive pay rises for bosses. These votes are not legally binding and can be ignored by company boards if they feel it necessary.

Back in Spring BP shareholders did reject a £14 million pay deal for Bob Dudley, the chief exec at the AGM.

The Think Tank’s report found that increases in salaries were bigger for a select few bosses at the largest organisations. Sir Martin Sorrell, head of WPP raked in £70m, a colossal sum for a year’s work. It might be hard for anyone to understand how one person could be worth that much money for one year’s work.

There is also a gender gap as there were no females among the top ten highest earners reports the High Pay Centre.

Tags: featured

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

In Pics – The worst Greek forest fires in a decade seen from in satellite space

London: Woman “critical” after being struck by police van answering 999 call

‘Brexit was a significant mistake’ – chair of NatWest says

Book Review: The Flicker of Old Dreams

Drug smuggler drove 7,000 miles to Iran & back to UK only to get caught at final border check

Elevenses: A Very Public Lynching

Weather forecast, alerts and UVB index for London, Friday 16 October 2020

Council ordered to pay compensation to teen and mum left sleeping in a tent for two months

Super volcanoes that have the potential to destroy mankind fuelled life on Earth

NHS staff have to reuse masks and hold breath due to lack of PPE

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.