A report by Deloitte has shown that salary increases for FTSE 350 executive
directors has slowed in comparison to the same period in 2007.
The increase in salaries has slowed to 6.2% compared with 7% in the last
year. The research also shows that although businesses are cutting back, they
are still willing to pay for the business superstars in order to safeguard a
strong management team.
Carol Arrowsmith, partner and head of the remuneration team at Deloitte,
said: ‘Executive salary increases during 2007 were still around 2% higher than
increases in RPI and average earnings but we are starting to see the impact of a
tougher economic climate on salary increases.’
Deloitte also found that the FTSE 100 is breaking into a FTSE 30 when it
comes to pay. The CEOs of the top 30 companies in the FTSE 100 could expect to
see their salaries top £1m, while the rest are in the region of £750,000.
Executive directors in the top 30 also have the potential to earn four times
their salary in incentives, compared to just under three times for the remaining
FTSE 100 directors.
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