| 14.9°C Dublin

FTSE-100 chiefs get 183 times an average worker's pay

Close

File photo dated 07/11/14 of money in a wallet as savers' account balances have still not fully recovered from last year's Christmas spending sprees, new research suggests. PRESS ASSOCIATION Photo. Issue date: Thursday April 30, 2015. Across Britain, the average savings balance in the first three months of this year stood at ?16,690, which is more than ?1,000 lower than the typical balance during the previous quarter at ?17,945, according to Halifax's Savings Review. Nearly one in four (24%) people surveyed said they had added nothing to their savings in the first three months of the year - and 26% said they have raided their accounts over the period. People living in the South East of England were found to have raided the most from their savings recently, at ?1,424 typically - although they also had the highest average balances, at ?19,489. Spending on holidays was the most popular reason for dipping into savings. Everyday household expenses were also a common reason for raiding savings, with people saying they had used their pots to cover costs such as home or car repairs, unexpected utility bills, because they had overspent on their current account and to pay off debts. See PA story MONEY Savings. Photo credit should read: Chris Radburn/PA Wire

File photo dated 07/11/14 of money in a wallet as savers' account balances have still not fully recovered from last year's Christmas spending sprees, new research suggests. PRESS ASSOCIATION Photo. Issue date: Thursday April 30, 2015. Across Britain, the average savings balance in the first three months of this year stood at ?16,690, which is more than ?1,000 lower than the typical balance during the previous quarter at ?17,945, according to Halifax's Savings Review. Nearly one in four (24%) people surveyed said they had added nothing to their savings in the first three months of the year - and 26% said they have raided their accounts over the period. People living in the South East of England were found to have raided the most from their savings recently, at ?1,424 typically - although they also had the highest average balances, at ?19,489. Spending on holidays was the most popular reason for dipping into savings. Everyday household expenses were also a common reason for raiding savings, with people saying they had used their pots to cover costs such as home or car repairs, unexpected utility bills, because they had overspent on their current account and to pay off debts. See PA story MONEY Savings. Photo credit should read: Chris Radburn/PA Wire

File photo dated 07/11/14 of money in a wallet as savers' account balances have still not fully recovered from last year's Christmas spending sprees, new research suggests. PRESS ASSOCIATION Photo. Issue date: Thursday April 30, 2015. Across Britain, the average savings balance in the first three months of this year stood at ?16,690, which is more than ?1,000 lower than the typical balance during the previous quarter at ?17,945, according to Halifax's Savings Review. Nearly one in four (24%) people surveyed said they had added nothing to their savings in the first three months of the year - and 26% said they have raided their accounts over the period. People living in the South East of England were found to have raided the most from their savings recently, at ?1,424 typically - although they also had the highest average balances, at ?19,489. Spending on holidays was the most popular reason for dipping into savings. Everyday household expenses were also a common reason for raiding savings, with people saying they had used their pots to cover costs such as home or car repairs, unexpected utility bills, because they had overspent on their current account and to pay off debts. See PA story MONEY Savings. Photo credit should read: Chris Radburn/PA Wire

The chief executives of Britain's biggest listed companies were paid about 183 times more than the average UK worker last year, even as investors protested excessive boardroom rewards.

According to data from the High Pay Centre, a think tank set up to look at the widening income disparity at British companies, the average FTSE-100 CEO earned £4.96m (€6.9m) in 2014. Average pay was £4.13m (€5.81m) in 2010, about 160 times that of a worker.

The gap between the pay of senior executives and the people who work for them is becoming increasingly scrutinised by politicians in the UK and the US. A survey by the AFL-CIO union in the US found that the CEOs of 350 Standard & Poor's 500 companies made 331 times more than their employees in 2013, up from a ratio of 46-to-1 in 1983.

"Pay packages of this size go far beyond what is sensible or necessary to reward and inspire top executives," Deborah Hargreaves, director of the High Pay Centre, said. "It's more likely that corporate governance structures in the UK are riddled with glaring weaknesses and conflicts of interest."

Business Newsletter

Read the leading stories from the world of business.

This field is required


Most Watched





Privacy