How blue-chip bosses pocketed the average pay of 2021 workers in just three days
The average blue-chip boss will get paid more tonight for 2021 than most employees get for the whole year, figures show.
FTSE 100 company executives receive a median of £ 3.61 million per year, or about £ 941 per hour, according to Thinktank, the High Pay Center.
This means that after 33 hours of work in 2021 – around 5:30 p.m. today – most executives have received more than the average salary of £ 31,461 UK workers earned.
FTSE 100 company executives receive a median of £ 3.61 million per year, or about £ 941 per hour, according to Thinktank, the High Pay Center
This was a slight decrease from 34 hours worked last year, the center said after workers ‘wages rose slightly and managers’ wages did not change.
However, Luke Hildyard, director of the High Pay Center, said executive pay in FTSE 100 companies is still about 120 times that of typical British workers, up from a multiple of 20 in the 1980s.
He added, “Factors such as the increasing role of the financial industry in the economy, the outsourcing of low-wage work and the decline in union membership have widened the gap between the frontrunners and everyone else in recent decades.
‘These numbers will raise concerns about large corporate governance and whether large employers distribute wages in a way that fairly rewards the contribution of different workers.
“They should also stimulate a debate on the impact of high levels of inequality on social cohesion, crime, and public health and well-being.”