Economic news

Top managers’ earnings fall

High rank officials’ pay has gone down for the last year, however there is still a chasm between them and their employees, as report showed.

FTSE 100 companies’ chiefs get around £4.5 mln per year, that is considerably less than they received in 2015 – around £5.4 mln, as revealed by the research of the High Pay Centre. The expert community agrees that it is positive though little and late. To earn an equal sum of money an average Brit getting £28,000 would need 160 years, report also said.

High Pay Centre’s director stated that the public now sees fall in top managers’ pay, due to the political pressure and social opposition. He added that it is only a singular occasion for now and people should go on with their demands to limit excessive pay among executives.

Ratio between FTSE 100 chiefs’ pay and the average earnings of their staff members had also decreased to 129:1, that is when company employee gets £1, their boss receives £129. Though back in 2015 the ratio was 148:1.

The research conducted in cooperation with Chartered Institute of Personnel and Development, also found that among the top 100 company chiefs only 6 were women, and their pay was around £2.6 mln per year.

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