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Yardstick Update

Directors and managers see their wages increase

by Personnel Today 19 Aug 2003
by Personnel Today 19 Aug 2003

Managers’
pay rose by 5.2 per cent in the year to January 2003, while UK directors’
earnings increased by 9.8 per cent.

A
survey of 449 organisations, by the Chartered Management Institute and
Remuneration Economics, shows the average total earnings for UK managers now
stands at £41,369, while the average for directors is £164,047.

Bonus
payments made up 28.8 per cent of directors’ total earnings and 9.7 per cent
for managers, whose bonus payments have remained broadly the same since 1998.
The average director’s bonus has doubled since 1999.

HR
managers experienced the biggest pay rise of 7.3 per cent, but managers working
in the financial sector remain the best paid, with average earnings of £46,473.  www.managers.org.uk

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Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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