UK’s fat cats make an average worker’s annual salary in just three days
While the difference appears stark, it has narrowed slightly from the previous year
London — By the end of the first three working days of the year, the UK’s top bosses will each have earned on average as much as a typical worker will take home in all of 2018, according to a report. While the difference in compensation appears stark, it narrowed slightly compared with the previous year, the High Pay Centre and the Chartered Institute of Personnel and Development (CIPD) said on Thursday. The so-called "fat cat" study by the groups comes amid growing investor and political unease in the UK about inflated CEO pay. "The system has worked a little bit better this year," said Stefan Stern, director of the High Pay Centre. "We calculate the typical CEO has to do 32 hours’ work as opposed to 28" to earn an average worker’s annual salary. The watchdog assumes CEOs work long days. The past couple of years have been marked by investor revolts against the level of salaries paid to top executives at some London-listed companies including Sky and Pearson. Other firms adjusted pa...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.