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.