Managers of leading British companies receive on average 183 times more than workers’ wages in their companies. According to a London think-tank High Pay Centre, which monitors the development of the annual income over the years, in 2014 the CEOs of companies that enter into the main British FTSE 100 index, have received an average of 4.964 million. Pounds. For comparison – the average salary of an employee full-time in 2014 was 27 195 pounds, reports BBC.
The pay gap between executives and other employees has not increased substantially from 2013, when managers have received 182 times more than the average wages of workers. The study authors, however, point the dissolution of scissors to 2010, when executives received “only” 160 times more.
“Salaries of this size go far beyond what is reasonable or necessary to inspire and reward top managers,” said the director of the High Pay Centre Deborah Hargviyvs. “It is more likely that the structures of corporate governance in the UK are riddled with obvious weaknesses and conflicts of interest,” she said.
From 2013 exchange-traded UK companies must publish information on executive remuneration, as well as to provide its shareholders a right of veto on remuneration of directors.
Following the publication of the study of High Pay Centre of British trade unions have asked institutional investors “to use their influence to draw a line of high pay for CEOs,” reports BBC.