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By the end of last Tuesday, Britain’s top bosses had made more money in 2015 than the average UK worker earns in an entire year, according to calculations by the High Pay Centre think-tank. FTSE 100 Chief Executives are paid an average £4.72m. The High Pay Centre found that even if CEOs are assumed to work long hours with very few holidays, this is equivalent to hourly pay of nearly £1,200.
While pay realised by FTSE 100 Chief Executives has risen by nearly £500,000 since last year, the annual pay of the average UK worker has increased by just £200, from £27,000 to £27,200. The figures will raise doubts about the effectiveness of Government efforts to curb top pay by giving shareholders the power to veto excessive pay packages.
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