TITLE

CEO salaries continue to increase despite slowdown

AUTHOR(S)
Reade, Quenitn
PUB. DATE
November 2003
SOURCE
Personnel Today;11/18/2003, p39
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Increases in chief executives' basic salaries have slowed down, but they are still rising at more than three times the rate of inflation for CEOs in the FTSE 100. Watson Wyatt's Executive Reward Survey 2003 of more than 80 of Great Britain's largest companies — including two-thirds of the top 20 FTSE 100 companies — shows that there has been a median increase of 7.8 percent for FTSE 100 chief executives, compared with a rise of 8.4 percent in 2002. In comparison, their FTSE 250 counterparts gained an increase of 5.1 percent, compared with 6.6 percent the year before. The study has found that the current median basic salary for FTSE 100 CEOs is £ 650,000. After annual bonus payments, the median total rises to just over £ 1 million, and once long-term incentives are taken into account, the figure is boosted to just over £ 1.5 million. In general terms this year, bonuses made up 47 percent of chief executives' basic salaries, and the value of long-term incentives represents 74 percent at the median.
ACCESSION #
11600287

 

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