BusinessCorporate FinanceMillionaires’ club welcomes new members

Millionaires' club welcomes new members

More FTSE 350 finance directors than ever are raking in £1m a year in pay, the annual Financial Director salary survey has revealed

The research, compiled by Accountancy Age’s sister publication,
found that there are 41 FTSE 100 FDs in the millionaires’ club, with a further
eight in the FTSE 250 breaking through the seven-figure remuneration barrier.

For the first time,
Financial
Director
has included share-based bonuses and earned but deferred bonuses in
its calculations. This explains the 24% increase in FTSE 100 FD remuneration.
Yet even if these bonuses are excluded, the real increase in the blue-chip
increase was 17%.

The highest-paid FD in the FTSE 350 was once again Man Group finance boss
Peter Clarke, who received a total pay packet of £5.1m, a 30% rise on his
remuneration the previous year.

Clarke’s salary was also the highest-ever recorded in the Financial Director
survey.
The top earner in the FTSE 250 was Investec FD Glynn Burger, who pocketed £2.5m.
Sportingbet FD Andrew McIver topped AIM with a £979,000 package.

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