Job cuts don’t stop chief exec pay rises

Chief
executives benefited from salary increases of more than 25 per cent in the past
year, despite widespread job cuts.

A
chief executive in the City now takes home about £960,000 and finance directors
and other directors in large firms earn as much as £570,000.

Research
by Incomes Data Services reveals that the basic salaries of chief executives in
the top FTSE 100 companies increased by an average of 14.8 per cent and
including bonuses the rise was 18.3 per cent.

One
in four of the 2,000 directors surveyed received cash rises of more than 25 per
cent in the year to June, while a fifth saw their earnings fall over the
period.

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Salaries
were highest in the oil and gas industries and lowest in the software and
computer services sectors.

By Ben Willmott