HPC: 10% pay rise? That’ll do nicely

Monday 08 Aug 2016 @ 13:05
Think Tanks

The High Pay Centre’s annual survey of FTSE100 CEO pay packages shows no end to the rise and rise in top pay.

An annual survey of FTSE100 CEO pay packages released today [8.8.2016] by the High Pay Centre reveals that rewards at the top continue to grow at a double digit rate. The average FTSE100 CEO pay package was £5.48m in 2015, up from £4.96m in 2014.

As the new prime minister has indicated, the growing gap between rewards for those at the top and everyone else is hard to justify at a time when economic uncertainty is intense and corporate performance mixed.

Stefan Stern, director of the High Pay Centre, said:

“There is apparently no end yet in sight to the rise and rise of FTSE100 CEO pay packages. In spite of the occasional flurry from more active shareholders, boards continue to award ever larger amounts of pay to their most senior executives.

“The High Pay Centre was delighted by Theresa May’s recent intervention on this issue. There now seems to be political will and momentum behind attempts to reform top pay.

“In particular we support two of her main proposals: that companies should be obliged to publish the ratio between the pay of the CEO and the average worker in the business, and that the voice of the ordinary employee must be heard in discussions over executive pay.

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