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UK FTSE 100 CEO pay hits record as worker pay gap widens
Median FTSE 100 CEO remuneration rose 8.6% to £5.06 million, while the pay ratio against the typical full-time worker increased to 130 times.
UK listed companies saw their pay gap widen again, with FTSE 100 chief executive remuneration reaching a record level, according to data from the High Pay Centre. The thinktank said median pay for FTSE 100 CEOs climbed to £5.06 million in the last financial year, up 8.6% from £4.66 million the year before.
The High Pay Centre also found that executive pay is now far above the typical earnings of UK workers. It estimated the median pay for a full-time UK worker at £39,000, based on October estimates, and said bosses are paid 130 times that figure, up from 124 times in the previous financial year. It added the 130-times ratio was the biggest gap since the ratio hit 137 in the year to the end of March 2018.
The report said FTSE 100 firms spent £856.6 million on pay over the last financial year, including £550 million for chief executives. It also noted that AstraZeneca CEO Pascal Soriot received £17.7 million, the highest pay among FTSE 100 bosses last year.
The High Pay Centre said it is closing after 15 years of campaigning and that its analysis should act as a warning as the gap between executive and worker pay has grown. The outlet reported that the thinktank’s interim director, Andrew Speke, called the latest increase a wake-up call for those overlooking rising executive pay.
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