Pay bonanza at the top as directors rake it in

The
earnings of top directors have increased by nearly 300 per cent over the last
10 years, while average wages have risen less than 50 per cent, according to a
new report.

The
Directors’ Pay Report 2003, published by Incomes Data Services, shows that top directors
at FTSE 100 companies earned an average annual salary of £600,000, but when
other figures such as long-term incentive payments and share gains were added,
total earnings averaged £1.33m a year.

Analysis
by job title shows median salaries in FTSE 100 companies range from £256,000
for property directors and £310,000 for HR directors to £447,500 for sales and
marketing directors and £472,000 for IT directors.

The
Association of Chartered Certified Accountants has called for companies to
declare what their chief executives receive as a multiple of the pay of an
average employee.

By Michael Millar

Comments are closed.