Buzz People

Top boss pay overtakes staff in three days

In the first three days of 2019 top bosses will have earned more than the typical worker will earn all year, according to a report.
The average pay of a FTSE 100 chief executive is £1,020 an hour, research from the High Pay Centre and HR industry body the CIPD has found.
By "Fat Cat Friday" bosses will have earned more than the typical annual UK salary of £29,574, the report said.
However critics have questioned their calculations.
According to the report, the median pay including bonuses for a FTSE 100 chief executive was £3.926m in 2017, the most recent year for which data is available.
It assumed that bosses work 12 hours a day for 320 days a year, making their hourly pay rate £1,020.
"Excessive executive pay represents a massive corporate governance failure and is a barrier to a fairer economy," said Luke Hildyard, Director of the High Pay Centre.
"Corporate boards are too willing to spend millions on top executives without any real justification, while the wider workforce is treated as a cost to be minimised," he said.
The £29,574 figure for median pay of full-time UK workers was taken from Office for National Statistics data.
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