The research, compiled by Accountancy Age’s sister publication, found that there are 41 FTSE 100 FDs in the millionaires’ club, with a further eight in the FTSE 250 breaking through the seven-figure remuneration barrier.

For the first time, Financial Director has included share-based bonuses and earned but deferred bonuses in its calculations. This explains the 24% increase in FTSE 100 FD remuneration. Yet even if these bonuses are excluded, the real increase in the blue-chip increase was 17%.

The highest-paid FD in the FTSE 350 was once again Man Group finance boss Peter Clarke, who received a total pay packet of £5.1m, a 30% rise on his remuneration the previous year.

Clarke’s salary was also the highest-ever recorded in the Financial Director survey.
The top earner in the FTSE 250 was Investec FD Glynn Burger, who pocketed £2.5m. Sportingbet FD Andrew McIver topped AIM with a £979,000 package.