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Pay up by 10 per cent for Britain's top bosses in 2015

Pay up by 10 per cent for Britain's top bosses in 2015

The bosses of Britain's top companies received an average 10 percent pay rise in 2015-five times the 2 percent rise afforded to employees, according to a study.

An annual survey of FTSE 100 pay packages by the High Pay Centre shows rewards at top positions continue to grow at alarming rates, especially at a time of economic uncertainty and when corporate performance is mixed.

In contrast to the pay packages awarded to their executives, only a quarter of the 100 FTSE 100 companies are accredited by the Living Wage Foundation for paying the living wage to all their UK-based staff. May proposed that companies should publish the ratio between the pay of the chief executive and the average worker and that there should be representatives of workers on the company's board.

The High Pay Centre is an independent think tank that monitors executive pay and campaigns to reduce the income gap.

'The High Pay Centre was delighted by Theresa May's recent intervention on this issue.

The pay-ratio rule is about to be rolled out in the United States in a bid to curb pay as part of a package of reforms introduced in the Dodd-Frank Act.

This 10.5% increase means the average ratio between these executives' remuneration and that of their employees was 129:1 in 2015.

"There is apparently no end yet in sight to the rise and rise of FTSE 100 CEO pay packages", Stefan Stern, director of the High Pay Centre, said in a statement Monday.

A recent CIPD study showed that 59 per cent of employees say high levels of CEO pay in the United Kingdom is directly demotivating to them at work.

'The question the outside world keeps asking is 'How much?!'. "The message from employees is clear: 'The more you take, the less we'll give, '" added Cheese.

The Sky television boss, Jeremy Darroch, with £17m, and Flemming Ørnskov, the Danish chief executive of pharmaceuticals group Shire, are among the new entrants.

Lloyds Banking Group chief executive Antonio Horta Osorio received £8,773,000 in 2015.

New Prime Minister Theresa May has said she will crackdown on these huge boardroom salaries, and even talked of having shop floor workers on the boards of big businesses, but until something is don, it seems these fat cat salaries will swell even further.

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