Salaries of FTSE100 Bosses Fell Last Year

Salaries of FTSE100 bosses fell by nearly a fifth last year, but a 'huge gap' still remains between them and their staff, a report by the High Pay Centre and the Chartered Institute of Personnel and Development (CIPD) has revealed. The fall in pay was resulted by pressure from investors and politicians over generous packages business leaders receive. While the think tank welcomed the results, it said that the fall was 'limited and very late'. It would take a worker in the UK on a salary of £28,000 160 years to rake in the average annual amount handed to the bosses of Britain's biggest listed companies.

The report also found that just over a quarter of top companies offered voluntary living wage that is higher than minimum wage. Meanwhile, gender pay gap was also shown as a remaining issue, as the five female FTSE100 chief executives received just over half the average figure earned by their 95 male counterparts. 'Our analysis also shows a clear gender pay disparity at the top, with female CEOs receiving less than their male peers,' commented CIPD chief executive Peter Cheese and urged the issue to be addressed 'at all levels of businesses.' The report urged Prime Minister Theresa May to 'stick to her guns and introduce a bill to reform executive pay before the year end' as there are concerns that the Government would be too preoccupied with Brexit negotiations in the next few years to focus on other reforms.