UK – Executive pays at £3m average

While many struggle to keep afloat during the recession, Britain’s top chief executives are enjoying an average £3million salary.

FTSE 100 bosses have seen their salary soar by 8.5 per cent in 2011 – whereas the national pay average rose by just 1.6 per cent, barely half the rate of inflation.

The brutal economic climate means the average Briton is losing money in real terms, piling pressure on how they spend their income and potentially restricting growth for the country.

Soaring salary: FTSE 100 bosses have seen their wages rocket – despite their businesses losing money

The new figures will surely infuriate those who are struggling to stretch their salary just to afford the essentials in these austere times.

The Independent reported that the FTSE 100 dropped 6.5 per cent during 2011 – meaning investors were hemorrhaging money while the chief executives enjoyed their fattened wage packet.

Former Barclays chief executive Bob Diamond was pressured into giving up his massive bonus

Research group Income Data Services, who analysed the figures, found that the chief executives pay had not risen as quickly as in 2010 – where the salary had rocketed by 23 per cent, the newspaper said.

Investors angry with the latest pay rise for bosses are calling for their resignation or for them to reject their bonuses…

via Recession? What recession? Executive pays rockets to £3m average while the rest of us have our salary cut | Mail Online.

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