Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+

Latest NewsExecutive payPay & benefits

Half of company directors have had pay cut or frozen

by John Charlton 2 Dec 2009
by John Charlton 2 Dec 2009

Almost half of executive directors have had their pay frozen in 2009, while 6% have taken a pay cut, according to the Institute of Directors (IoD).

It added that the picture varied from company to company, with 50% of directors of small companies experiencing a pay freeze compared to 42% of directors of medium-sized companies and 36% of those at large companies. Nine per cent of small company directors have taken a pay cut this year, while 7% of those at medium-sized companies and 4% of those at large ones have done so.

IoD director general Miles Templeman said: “We can see that the recession is affecting people at all levels of seniority in the private sector. From the shop floor to the boardroom, no-one is immune from the pain.”

The IoD’s figures, based on an analysis of 3,468 jobs at 1,200 organisations, indicated that 46% of directors of medium-sized companies are working more than 55 hours a week compared to 30% last year, and of that, 18% are putting in more than 60 hours a week. Last year, only 7% did so.

Some 40% of directors of small companies will work more than 55 hours a week this year, while 50% of directors of large firms are expected to do so, said the IoD. Of the latter, 25% will work more than 60 hours a week in 2009 compared to 11% in 2008.

For the 50% of directors surveyed who got a pay rise this year, the average was 3.2%. And, said the IoD, the basic pay for a small company managing director (MD) is £70,000, while that of an MD of a financial services company is £120,000 compared to £75,235 for an MD in the voluntary sector. Public sector MDs earn an average salary of £110,000.

The IoD defines small, medium and large companies as ones that have a turnover of up to £5m, £5m to £50m, and £50m to £500m respectively.

Meanwhile, research from reward consultancy Mercer indicates that 76% of employers will not impose a pay freeze in 2010. Respondents to its quarterly salary indicator research forecast pay rises of 2.8% to 2.57% next year.

Avatar
John Charlton

previous post
Doctors warned not to respond to amorous advances from patients on social networking sites
next post
Logica to close final salary pension scheme

You may also like

Maya Forstater wins belief discrimination case over gender-critical...

6 Jul 2022

Inflation: A return to the 1970s or a...

6 Jul 2022

NI threshold increase ‘not likely to benefit workers’

6 Jul 2022

Kristie Higgs succeeds in bid to remove LGBT...

5 Jul 2022

‘Low flight risk’ designer wins £100k age discrimination...

5 Jul 2022

Rail signaller discriminated against by staff who watched...

5 Jul 2022

The ultimate guide to payroll for small businesses

5 Jul 2022

More government support to help over 50s back...

5 Jul 2022

NHS to end full pay for Covid-19 sick...

4 Jul 2022

Government childcare plans aim to reduce cost of...

4 Jul 2022
  • The ultimate guide to payroll for small businesses PROMOTED | You’ve started a business that has expanded to the point of requiring more staff to meet demand. Congratulations!...Read more
  • NSPCC revamps its learning strategy with child wellbeing at its heart PROMOTED | The NSPCC’s mission is to prevent abuse and neglect...Read more
  • Diversity versus inclusion: Why the difference matters PROMOTED | It’s possible for an environment to be diverse, but not inclusive...Read more
  • Five steps for organisations across the globe to become more skills-driven PROMOTED | The shift in the world of work has been felt across the globe...Read more
  • The future of workforce development PROMOTED | Northumbria University and partners share insight...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2022

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2022 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
    • Advertise
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Equality, diversity and inclusion
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • XpertHR
    • Learn more
    • Products
    • Pricing
    • Free trial
    • Subscribe
    • XpertHR USA
  • Webinars
  • OHW+