Rich get richer as wage gap grows
Executive wages have been growing at a far greater rate than the lowest paid, resulting in two-thirds of the work force earning below the average weekly wage.
Executive wages have been growing at a far greater rate than the lowest paid, resulting in two-thirds of the work force earning below the average weekly wage.
Link: TUC wants boost in minimum wage
This was the stark findings of the latest report by Income Data Services, which put the average weekly wage at £465 before taxation.
All the figures point to an increasing rosier position for the wealthiest high-earners; they have seen their salaries go up by 54% in the last 10 years, compared to just 45.6% for those on the lowest rung.
In addition, the introduction of the minimum wage in 1999, while boosting the position of the lowest paid, has done nothing to bridge the gap.
The report also found that over the past year, pay deals have been stable, ranging between 2% and 3% in most private firms and between 3% and 4.5% in the public sector.
The numbers you crunch tell a story. Your expertis...
21yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe UK's National Living Wage increase to £11.44/hr demands significant adjustments in payroll and reporting for accountants, impacting compliance, fi...
View articleThe Chartered Institute of Public Finance and Accountancy (CIPFA) has announced the appointment of Owen Mapley as its new Chief Executive Officer (CEO...
View articleThis regulatory update aims to simplify the reporting process, reduce administrative burdens, increase accuracy, and provide real-time reporting capab...
View articleThe modern consumer is tech-savvy, and generally digitally literate. Nowhere is this more evident than within the financial sector; consumers demand r...
View articleEntries are now open for the Accountancy Age 35 under 35 2022 ranking, highlighting the brightest young talent in the accountancy sector Read More...
View articleWith the year nearing its close, Chris Evans, vice president and country manager at Intuit QuickBooks UK, takes the opportunity to reflect on the past...
View articleShowcasing the industry's rising talent, the fourth and final instalment of our 35 under 35 rankings highlights five young UK professionals who are ma...
View articleLive broadcast event specifically for accountants Read More...
View article