FTSE Bosses Earn 386 Times National Living Wage
According to the latest pay surveys, FTSE 100 bosses are earning 386 times that of the average employee who is on the national living wage. The average FTSE chief’s income, while lower than it was before shareholders were given options for vetoing high paid bosses, is more than 380 times that of the average employee’s.
The figures came from the Equality Trust, who used annual reports from 2015 to calculate average CEO renumberation. They found that CEOs, on average, pocket £5.3m a year, while someone on the national living wage takes home £13,662 a year.
The trust issued its findings following some growing worries over the pressure that employees are feeling on living standards, because of slow pay growth and rising inflation. Employees are facing pressures in part because of the falling value of the pound and the rising cost of imports. Theresa May is facing challenges while looking at ways to get the UK out of the EU while still fostering equality and building a healthy economy.
FTSE 100 CEOs are taking home more than 100 times the average UK salary, even considering those of higher paid workers. Equality Trust is calling for the government to force large and medium sized companies to report the pay gap between their average paid employees and the highest paid people in the company. The increase in transparency could help to force companies to evaluate their pay practices, and to encourage them to treat employees more fairly.