Boardroom pay deals race ahead
The salary gap between the boardroom and the workforce is continuing to widen, according to a new survey.
Figures from the Income Data Services’ Directors’ Pay Report 2004 show that bosses at the UK’s 350 leading firms saw their salaries rose by 16.1% in the 12 months up to 30 June 2004.
At the same time average pay increases for all employees rose by just 4.3% during the same period.
The rise for boardroom members has been fuelled by bonuses and share options, the report found.
Average salary increases for directors at the FTSE 350 companies were just over 9% but taking bonuses into account, take home pay rose by 16.1%.
The widening gap comes despite high-profile attempts to narrow the gap between the boardroom and other employees in recent years.