Fatcat bosses get more money by 1pm today than average worker will earn all year
The average fatcat boss will have raked in more by 1pm today than a typical worker will earn all year.
Analysis by the High Pay Centre found the average chief executive of a FTSE 100 company makes £3.81million a year, or the equivalent of £1,171.56 an hour. That is 109 times the average salary for a full-time worker of £34,943.
The highest-paid FTSE fatcats – such as AstraZeneca’s £15.3million Pascal Soriot and BAE Systems’ £10.7million Charles Woodburn – earn several times more.
Workers’ average pay has risen 6% in the past year, while top bosses have netted an extra 9.5%. Despite this, there are growing calls in the City for big bosses in the UK to be paid even more.
Luke Hildyard, director of the High Pay Centre, said: “Lobbyists for big business spent much of 2023 arguing that top earners in Britain aren’t paid enough. They think economic success is created by a tiny number at the top. We end up with massive inequality and stagnating living standards.”
Teachers, civil servants and train drivers walk out in biggest strike in decade
TUC General Secretary Paul Nowak said: “The Conservatives are enabling obscene levels of pay inequality. While working people have been forced to suffer the longest wage squeeze in modern history, City bosses have been allowed to pocket bumper rises.”
A spokesman for the Government said: "We have given millions of workers across the UK a historic pay rise thanks to our decision to increase the National Living Wage to £11.44 an hour. In total since 2010, the annual earnings of a full-time worker on the National Living Wage will have increased by over £10,000, demonstrating how we are delivering for those in work."
Top five best paid FTSE 100 CEOs in 2022
Pascal Soriot - AstraZeneca - £15.3million
Pascal Soriot joined AstraZeneca in 2012 (PA)Pascal Soriot is a French-born Australian businessman who is CEO of the pharmaceutical and biotechnology company AstraZeneca, having joined the business in 2012. He started his career as a vet before joining the pharmaceutical industry in 1986. Before moving to AstraZeneca, he was the chief operating officer at rival Swiss pharmaceutical firm Roche.
Charles Woodburn - BAE Systems - £10.7million
Charles Woodburn has been the CEO of BAE Systems since July 2017 (Tayfun Salci/ZUMA Press Wire/REX/Shutterstock)Charles Woodburn is a British businessman who has been the CEO of BAE Systems - the maker of the Eurofighter Typhoon and nuclear submarines - since 2017. He joined from Expro Group, which is an energy services provider, and previously worked for Schlumberger, an oil services company.
Albert Manifold - CRH - £10.4million
Albert Manifold is the managing director of CRHAlbert Manifold is an Irish businessman who is CEO of building materials group CRH. He has held this position since 2014, but has been with CRH since 1998 and was appointed chief operating officer in 2009.
Bernard Looney - BP - £10million (since left)
Bernard Looney resigned from his role at BP in September last year (Bloomberg via Getty Images)Bernard Looney is an Irish businessman and former CEO of BP, having left the business in 2023. He resigned less than four years into the role after admitting that he failed to fully detail relationships with colleagues. He spent his entire career with BP.
Sunak branded 'pathetic' for attempt to pin blame on Labour for mass strikes
Ben Van Beurden - Shell - £9.7million (since left)
Ben Van Beurden left Shell at the end of 2022 (AFP/Getty Images)Ben van Beurden is a Dutch businessman who was the CEO of Shell, having resigned in 2022. He joined Shell in 1983 and held a number of technical and commercial roles before being promoted to CEO in 2014.
Read more similar news:
Comments:
comments powered by Disqus
