PracticeConsultingUK bosses continue to reap rewards

UK bosses continue to reap rewards

Top UK chief executives received larger pay increases over the last year than other main board directors - with average annual cash earnings topping £750,000.

According to the Boardroom Remuneration Guide, published today by Hay Management Consultants, the total cash earnings of CEOs in the UK went up by 18.6% during the 12 months to May this year.

FTSE-100 CEOs are now paid an average £752,000 a year, including a base salary of £550,000. Main board directors in the FTSE-100 are paid an average £418,000 with a base salary of £345,000.

CEOs in large companies are also seeing massive increases in the value of their share option grants. The number of CEOs being granted share options worth more than £500,000 increased from 50% in 1999 to 59% this year.

Damien Knight, director of Executive Remuneration explained the huge pay increases for the top CEOs. He said: ‘Remuneration of the top UK CEOs is moving towards US levels. Global companies such as BP and Vodafone have found they need to pay their top executives in line with the US in order to recruit and retain the best executives’.

Links

The millionaires’ club

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer