Boardroom pay at the UK's top companies soared 37% last year as full-time directors were rewarded with inflation-busting increases in basic salaries, big cash bonuses and substantial payouts from share schemes, reports The Guardian.
The surge in pay, which takes the average total pay for a chief executive to £2,875,000, is more than 11 times the increase in average earnings and nearly 20 times the rate of inflation as measured by the consumer price index. The ratio between bosses' rewards and employees' pay has risen to 98:1, up from 93:1 a year ago - meaning that the work of a chief executive is valued almost 100 times more highly than that of their employees. THE TURMOIL IN GLOBAL markets claimed another victim today as Whitbread said it was delaying a possible £600m bond for at least one month, reports The Times. ...
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