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Bosses' pay boost beats workers Bosses' pay boost beats workers
(about 5 hours later)
The basic salaries of the bosses running Britain's 350 largest public companies rose to £350,000 last year: an increase of 7%.The basic salaries of the bosses running Britain's 350 largest public companies rose to £350,000 last year: an increase of 7%.
A survey by the consultancy Deloitte found that this was 75% faster than average pay rises for all UK workers.A survey by the consultancy Deloitte found that this was 75% faster than average pay rises for all UK workers.
And executives at the largest 240 companies, those worth more than £600m, can now except to take home £1m a year. And executives at the largest 240 companies, those worth more than £600m, can now expect to take home £1m a year.
The study also found that only 3% of board level executives are women, the same amount as the previous year.The study also found that only 3% of board level executives are women, the same amount as the previous year.
Carol Arrowsmith, from Deloitte, said the report showed that the gender imbalance still remains in the boardroom.Carol Arrowsmith, from Deloitte, said the report showed that the gender imbalance still remains in the boardroom.
"You can count the number of female chief executives on the fingers of one hand.""You can count the number of female chief executives on the fingers of one hand."
Pattern should changePattern should change
She said appointments are usually made on the experience of the candidate, so as more women enter the business world, this pattern should change in the future.She said appointments are usually made on the experience of the candidate, so as more women enter the business world, this pattern should change in the future.
Guidelines were introduced in 2002 to bring diversity into the boardroom, but the main effect has been a reduction in executive board members, which is down a fifth.Guidelines were introduced in 2002 to bring diversity into the boardroom, but the main effect has been a reduction in executive board members, which is down a fifth.
One reason to explain the lack of women at top levels is that they often cut back on their hours after starting a family thereby ruling themselves for promotion.One reason to explain the lack of women at top levels is that they often cut back on their hours after starting a family thereby ruling themselves for promotion.
Meanwhile, a chief executive now earns an average salary of £2.4m a year, while a finance director receives an average of £1.1m, the Guardian's annual survey of executive pay found.Meanwhile, a chief executive now earns an average salary of £2.4m a year, while a finance director receives an average of £1.1m, the Guardian's annual survey of executive pay found.