Executive pay rockets again
For the eighth year in a row executives have seen their pay rise, with the best directors enjoying an average 16% increase.
The figures have prompted the TUC to claim that ‘excessive’ pay packages clearly indicted there was one rule for workers and another for the executives when it comes to pay deals.
The Labour Research Department report said there were now 123 executives in listed companies earning more than £1m and that some directors saw their pay double over the last year.
Some 487 directors earned more than £500,000 while 360 earned between £500,000 and £1m.