Directors’ pay rises show slowdown from past year

Directors’ pay settlements slowed last year, according to a survey. The
study, by Professional Personnel Consultants, covering 205 directors and
executives, shows that their pay rose by just 1.93 per cent in the year to
October 2002.

The report, PPC Review of Directors’ Remuneration, also shows a reduction in
emoluments (profit awards) paid to some directors. The average salary for
‘owner’ managing directors, for example, including additional payments was
£82,459, compared with £94,454 in 2001 – a drop of almost 13 per cent.

Benefits packages remained largely unchanged, but the number of directors
receiving company cars continues to decrease.

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