Anger as bosses’ pay soars
A new study revealing that chief executives’ pay has soared by 10 per cent over the past year has sparked outrage.
An annual survey by analysts Manifest and pay consultants MM&K showed that pay for performance “was still not working”, with average chief executives’ pay increasing to over £4.2m.
Research among more than 580 leading companies revealed that the UK’s top 100 chief executives were paid £425m in 2012, up by £45m, or 10 per cent, from 2011.
TUC General Secretary Frances O’Grady said: “With wage growth falling to its lowest level in decades, its outrageous that top CEO pay is now rising 10 times faster than average wages.”