BusinessCompany NewsFTSE 350 directors earning £350,000 a year

FTSE 350 directors earning £350,000 a year

Pay continues to rise for fat cats

A survey by Deloitte has found that the salaries of company directors at the
UK’s biggest listed companies rose by an average 6.8% over the last year.

According to the firm, a FTSE 350 executive director is now paid an average
salary of £350,000 a year, up by £23,800 in 2005.

The rise is slightly more than last year’s 6.5% rise and ends a five-year
decline in salary growth rates.

The results show that senior executives are stretching even further ahead of
the overall workforce, where pay rose by just 3.9% on average.

Bill Cohen, partner and remuneration specialist at Deloitte, said: ‘While
these higher bonus payouts may raise eyebrows, it is important to look at the
performance of the FTSE which, over the same period, increased by 18pc compared
with 9pc the year before. However, it is always important to ensure that annual
incentive plans support the business strategy and have appropriately stretching
targets.’

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