The average pay of a FTSE100 chief executive has risen by 40 per cent in the past year to nearly £3m, according to a forthcoming report from the pay experts Income Data Services.
Senior City figures last night said the astonishing figures for the first time laid bare how, after three years of more modest rises, executive pay was once again spiralling out of control.
In a survey of the available annual accounts of 87 companies, the average total remuneration of a FTSE100 chief executive has risen to £2,864,282. The figure includes salary, bonuses, share options and other long-term incentive plans that have vested during the year. But it excludes valuable pension contributions, which would raise the average total remuneration to more than £3m if included.
With the average UK salary now approximately £22,500, FTSE100 chief executives take home the pay of 127 workers. In contrast, shares in the FTSE100 index have climbed by just 7.5 per cent over the past 12 months after a year of strong profits growth.
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