Directors' pay increased by 3.5 per cent over the 12 months to September 2002, and is expected to rise by a similar amount in the coming year.
The survey, of senior management remuneration by Reward and the Institute of Directors, shows that the highest earners are managing directors in large private limited companies. This group were paid a median salary of £137,500, and could expect bonuses of £39,500.
Large companies are defined as those with an annual turnover of between £50m and £500m.
The study shows that the gender pay gap among big earners is narrowing slightly. A decade ago the gap was 32 per cent, it is now 21 per cent. www.iod.co.uk