Small firms cut from top

Earnings growth for bosses in smaller businesses dropped from 7.1 per cent
in 2001 to just 2.6 per cent last year.

A study of 2,228 managers and 142 directors, from 126 companies each with an
annual turnover of less than £60m, by Remuneration Economics and the Chartered
Management Institute, finds that a fall in bonus payments from 57 per cent to
50.7 per cent, is the main reason for the slowdown. However, bonus payments for
managers rose from 40.5 per cent to 46.9 per cent. The figures show that the highest
paid have been hit hardest.

Remuneration Economics:
020 8549 8726

Chartered Management Institute:
020 7497 0580

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