Boardroom pay continues to soar

December 2001
Accountancy;Dec2001, Vol. 128 Issue 1300, p16
Trade Publication
Reports on the increase in boardroom pay in Great Britain as of December 2001. According to the latest Income Data Services survey, which was issued shortly after the government announced its intention to give shareholders the right to an annual vote on directors' pay, FTSE 100 directors' basic salaries jumped by an average of 14.8% in the twelve months to July. When bonuses are included in the equation, the total average remuneration package went up by as much as 18.3%. The survey revealed that chief executives took home an average pay packet of £538,000. This rose to a medium of £962,000, after bonuses and share option profits were included. The figures were significantly lower in FTSE 250 boardrooms, with average chief executive salaries of £300,000 and total annual earnings of £489,000. Finance directors in FTSE 100 companies were found to be earning an average basic salary of £319,000 and a total remuneration package of about £571,000.


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