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UK CEOs Reap Record Pay Amid Widening Worker Gap
20 Jul
Summary
- FTSE 100 CEO median pay reached a record £5.06m, an 8.6% increase.
- The pay gap between CEOs and average workers is now 130 times.
- Pascal Soriot of AstraZeneca was the highest-paid FTSE 100 boss at £17.7m.
Last year, bosses of Britain's largest listed companies achieved record pay packages, contributing to the most significant earnings disparity with employees in eight years. The median pay for FTSE 100 chief executives climbed to £5.06 million, an 8.6% increase from the previous year, marking a new record high.
Analysis indicates that these executives are now earning 130 times the salary of the average full-time UK worker, the largest ratio recorded since March 2018. This widening gap is a concern for the High Pay Centre, which advocates for fairer pay practices. They propose reforms including a "fat-cat tax" and increased worker representation on company boards.
Pascal Soriot, chief executive of AstraZeneca, was the highest-paid FTSE 100 executive, receiving £17.7 million. Other top earners included GSK's Emma Walmsley (£15.6 million) and Barclays' CS Venkatakrishnan (£15 million). Despite a slump in profits, Shell's Wael Sawan also saw a significant pay increase to £13.7 million.
