Chief executives of the UK’s greatest firms have already earned as a lot as the common employee will throughout the entire of 2023, analysis has discovered.
By 2pm on Thursday, bosses of FTSE 100 firms could have banked a mean of £33,000 since New Year’s Day, in line with information from the High Pay Centre.
That quantity is identical because the median wage for a UK employee throughout 2022, based mostly on evaluation of knowledge from the Office for National Statistics and the monetary reviews of publicly listed firms.
The ratio has taken on further significance given the present price of dwelling disaster.
During 2021, chief government pay rose by 39%, the High Pay Centre discovered beforehand.
Average employees’ salaries have elevated by a a lot smaller quantity.
“In the worst economic circumstances that most people can remember, it is difficult to believe that a handful of top earners are still raking in such extraordinary amounts of money,” High Pay Centre director Luke Hildyard stated.
“The UK economy really cannot afford for such a big share of the wealth that is created by all workers to be captured by such a tiny number of people at the top.”
The new normal secretary of the Trades Union Congress, Paul Nowak, stated employees ought to have “seats on executive pay committees to bring some common sense to top pay”.
He added: “Everyone deserves a fair day’s pay for a fair day’s work. But while working people are told not to ask for more, top pay is soaring.
“We want authorities motion to deliver again some equity on pay.”
Gary Smith, general secretary of the GMB union, said: “A tough-up 999 name handler must work for 150 years to earn what a CEO boss trousers in simply 12 months. It’s an utter shame.”
Source: information.sky.com”