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.
