FTSE CEOs see 17% slide in pay — WPP’s Martin Sorrell still tops list

Wealth


Though CEOs may be taking note of increasing pressure from investors and politicians over their generous pay packets, the report once again highlights the stark disconnect between bosses and their employees.

The average salary of a FTSE 100 CEO last year was 160 times that of the average U.K. worker. This means that it would take a typical Brit earning an annual £28,000 more than a century-and-a-half to match the same as the average FTSE business chief earns in a year.

“The ordinary employee looks at that number and they can’t quite reckon with it, it seems like an enormous number compared to what ordinary people are going through,” Stefan Stern, director of the U.K. think tank High Pay Centre, told CNBC on Thursday.

This, in turn, has fueled wider public discontent with their political systems, which many see as responsible for fueling, or at least accommodating, such pay disparity, Stern noted.

“I think there is a political problem and that’s been manifested in some of the big political votes we’ve seen in the U.K. and the U.S. over the past couple of years.”

The U.K. government has announced that it will present new proposals for executive pay in September.



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