Are FD pay rises obscene?

Are FD pay rises obscene?

Publication of the latest salary survey from our sister title Financial Director will provoke the usual round of outrage about fat cat pay tempered by the typical caveats that entrepreneurs need big rewards if they are to be persuaded to take risks and generate bigger rewards for shareholders.

But away from the headlines (a Pounds 3m pay packet for Vodafone FD Ken Hydon, the fact that there are now six ‘million-pound men’ and so on) is a more interesting figure.

Over the five years the survey has been conducted aggregate FD pay has risen by an average of 7.8% a year. When compared to rises in average earnings that may be on the high side, but it’s hardly the nefarious nest-feathering we might have expected to see given some of the more lurid fat cat headlines of recent years.

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