Top UK Bosses Earn Workers Salary in Three Days

People who are currently working to get their tax return done by the end of the month should get in touch with accountants in Aylesbury if they want to hit the deadline.

Infuriatingly for some, it has been revealed that top bosses in the UK earn in three days what the average worker earns in a year

The average FTSE 100 chief executive earns £901.30 an hour, compared with the average worker’s wage of £14.37 an hour, figures crunched by the Chartered Institute of Personnel and Development (CIPD) and think-tank High Pay Centre showed this week.

The average yearly salary for the chief executives stands at £3.46 million in 2018, compared to the median annual wage of £29,559.

Peter Cheese, chief executive at the CIPD, told the BBC: “This is the first year where businesses are really being held to account on executive pay. Pay ratio reporting will rightly increase scrutiny on pay and reward practices, but reporting the numbers is just the start.”

This means that for bosses starting back at work on the 2 January, they would have earned as much as their average worker by 6 January.

This year will be the first year that firms are forced to publish pay data showing the pay ratio between most highly paid and lowest paid staff. This follows on the heels of the publication of the gender pay gap a couple of years ago which revealed much higher discrepancies than had been assumed at some major firms such as the BBC.

Published On: January 23, 2020

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