Bosses of top UK companies earn 117 times more than employees
The average salary for chief executives dropped 13% last year, according to a new report, but they still earn 117 times more than the average UK full-time employee.
Those running the UK’s largest listed 100 companies are paid an average of £3.5 million a year, the CIPD, the professional body for human resources, found.
In contrast, full-time workers in the UK earn an average of £29,574.
The top 100 companies in the UK include easyJet, which, according to the comparison website Merchant Machine makes an average revenue of £439,739 per employee, and TUI, which makes an average of £396,787 for each staff member.
The report also showed a continued wide gender gap at the top of big firms.
In 2018, only six of the FTSE 100 companies had a female boss, down from seven in 2017.
The CIPD and High Pay Centre made a number of recommendations:
o Pay for the top 1% of earners should be disclosed
o Consider wider workforce reward practices, and understanding of organisational culture, fairness and investment in people
o Link chief executive pay to both financial and non-financial measures of performance
o Simplify chief executive reward packages and ensure they are linked to fewer and more meaningful measures of performance.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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