UK private sector CEOs average 6% rise in salaries

The current average basic salary for a UK chief executive working in an FTSE 100 company is £703,000, according to business consultancy KPMG’s Survey of Directors’ Compensation 2006.

Finance directors in FTSE 100 companies typically earn £406,000, while other executive directors can expect to receive an average basic salary of £380,000.

Chief executives in the private sector received an average annual salary increase of 6%, much higher than the national average of 3.9% (excluding bonuses), in the year to July 2006.

Finance directors and other executive directors in FTSE 100 companies received an even bigger increase of 7%.

The Office for National Statistics (ONS) figures for the year to July 2006 also showed consumer prices increased by 2.4%.

The average pay growth for the public sector was 3% in the year to July, according to ONS figures.

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Source: KPMG