Bumper bonus payments boosted the
earnings of UK company directors by 13 per cent in 2001, more than double the
previous year.
A survey by the Institute of
Management claims average bonuses rose from £20,856 to £28,071 in the 12 months
to January, 2001 – an increase of 34 per cent.
“This big rise in bonus payments
reveals the extent of economic buoyancy and business confidence in the UK
during the period covered by the research. Bonuses are being paid by results and
the achievement of commercial targets,” commented Mary Chapman,
director-general of the Institute of Management.
The findings revealed that the
average total earnings of a director in the UK was £121,011.
It also found that directors in the
food, drink and tobacco industries enjoyed the biggest overall earnings
increase.
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