BusinessCompany NewsChief exec pay still inflation-busting

Chief exec pay still inflation-busting

Top bosses' pay rose by 7.8% in the past year, a salary survey has revealed.

Link: McDonough urges review of executive pay

The increases for chief executives at FTSE 100 companies were more than double those gained by other employees.

On average, chief executives earn a package of some £2m a year.

A 7.8% increase was also three times the rate of inflation though it was slightly lower than the 8.4% rise seen in the previous year.

Calvin Jackson, partner at Watson Wyatt, who carried out the survey, said the extent to which senior pay was holding up was a surprise.

‘One would have expected a much sharper decline. There has been true resilience when you think how tough it has been,’ he told the Financial Times newspaper.

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