Monday, September 21, 2009

Pay gap widens between executives and their staff


Guardian pay survey finds the recession is hitting the shopfloor far harder than the boardroom

The pay gap between top bosses and their staff continues to widen as executive remuneration races ahead of staff wage settlements – providing further evidence that the recession is hitting the shopfloor far harder than the boardroom.

The highest-paid boss last year was Bart Becht, chief executive of Reckitt Benckiser, which makes everything from Nurofen to Cillit Bang. The Dutchman, who was the most highly rewarded boss in the FTSE 100, received the same pay as 1,374 average workers at the Slough-based multinational. The huge boss-worker ratio is not a result of Reckitt workers being particularly poorly paid – their average salary is £26,700, in line with the national average – but is a reflection of the huge rewards handed out in pay, perks and share-based incentives to the chief executive. Becht received about £37m last year.

See full Article.