Menu
31/10/2001
‘Fat cat’ pay continues to rise
New research by the Incomes Data Services (IDS) has revealed that despite government moves to clamp down on "fat-cat" salaries, boardroom pay continues to grow.
In their survey IDS calculated that basic salaries of chief executives in FTSE 100 companies jumped by an average of 14.8 per cent in the 12 months to July. When bonuses were added in, that average growth was as high as 18.3 per cent, taking the average FTSE 100 chief executive's pay to a total of more than £960,000.
While Trade Secretary Patricia Hewitt recently unveiled new rules, which it hoped would force companies to put boardroom compensation to an annual shareholder vote, many company directors have continues to gain huge pay rises. For example, the single biggest gain among large firms was a 321 per cent surge in average board salary at mobile giant Vodafone.
Among the 2,000 directors surveyed by IDS, one in four received a total pay rise of more than 25 per cent. In the oil and gas business, top executive directors earned basic salaries of an average £384,000, almost three times as much as their tech-industry peers.
However, IDS said that the main reason for the pay surge was hikes in directors' bonus packages, rather than increases in basic pay. (MB)
In their survey IDS calculated that basic salaries of chief executives in FTSE 100 companies jumped by an average of 14.8 per cent in the 12 months to July. When bonuses were added in, that average growth was as high as 18.3 per cent, taking the average FTSE 100 chief executive's pay to a total of more than £960,000.
While Trade Secretary Patricia Hewitt recently unveiled new rules, which it hoped would force companies to put boardroom compensation to an annual shareholder vote, many company directors have continues to gain huge pay rises. For example, the single biggest gain among large firms was a 321 per cent surge in average board salary at mobile giant Vodafone.
Among the 2,000 directors surveyed by IDS, one in four received a total pay rise of more than 25 per cent. In the oil and gas business, top executive directors earned basic salaries of an average £384,000, almost three times as much as their tech-industry peers.
However, IDS said that the main reason for the pay surge was hikes in directors' bonus packages, rather than increases in basic pay. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
04 March 2002
Top Consignia directors decline 10 per cent pay hike
Two senior directors of postal company Consignia have decided not to accept a 10 per cent pay rise following anger among postal unions.
Top Consignia directors decline 10 per cent pay hike
Two senior directors of postal company Consignia have decided not to accept a 10 per cent pay rise following anger among postal unions.
29 August 2001
UK’s top directors pay increase is five times the average rise
A survey for The Guardian newspaper by compensation consultants Inbucon has revealed that Britain's top directors received an average pay rise of 28 per cent last year, more than five times higher than the rise in the UK's average wage.
UK’s top directors pay increase is five times the average rise
A survey for The Guardian newspaper by compensation consultants Inbucon has revealed that Britain's top directors received an average pay rise of 28 per cent last year, more than five times higher than the rise in the UK's average wage.
21 August 2001
UK chief executives see pay package rise
Chief executives across the UK's leading companies have seen their pay packages rise by almost 15 per cent during the past 12 months. The new survey by Pricewaterhousecoopers subsidiary, Monk Partnership, revealed that the new figures had pushed the average salary above the £500,000 mark.
UK chief executives see pay package rise
Chief executives across the UK's leading companies have seen their pay packages rise by almost 15 per cent during the past 12 months. The new survey by Pricewaterhousecoopers subsidiary, Monk Partnership, revealed that the new figures had pushed the average salary above the £500,000 mark.
10 November 2005
Minister welcomes reduction in gender pay gap
Minister for Women Tessa Jowell has today welcomed a narrowing in the gender pay gap. Commenting on figures from the Office of National Statistics (ONS) Mrs Jowell said: "It is excellent news that the gender pay gap is now at its lowest level in 30 years since the introduction of the Equal Pay Act.
Minister welcomes reduction in gender pay gap
Minister for Women Tessa Jowell has today welcomed a narrowing in the gender pay gap. Commenting on figures from the Office of National Statistics (ONS) Mrs Jowell said: "It is excellent news that the gender pay gap is now at its lowest level in 30 years since the introduction of the Equal Pay Act.
11 March 2002
Employers urged to address issue of equal pay
Employers have been urged to apply for a Castle Award, the new mark of excellence which will reward employers’ efforts in tackling equal pay issues.
Employers urged to address issue of equal pay
Employers have been urged to apply for a Castle Award, the new mark of excellence which will reward employers’ efforts in tackling equal pay issues.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
