Fat cat Friday: Business bosses' 2021 pay hits total average annual salary


As if you weren't feeling rubbish enough after going back to work, this news that top bosses have already made more than the typical salary for that year already, is not likely to fill you with joy..Unless of course you are a CEO.

Chief executives of FTSE 100 firms have average pay packets lb3.9 million, around lb1,000 per hour and therefore are now paid 133 times a lot more than the average worker.

So when the clock strikes 1pm they have made the cash most of us will struggle through the next 300 odd days to make.

The national living wage hourly rate for adults is lb7.83.

Peter Cheese, chief executive from the CIPD, said: “What is has stagnated whilst top CEO reward has grown, despite overall slow economic growth and very variable business performance.

“Excessive pay packages awarded by remuneration committees represent a significant failure in corporate governance and perpetuate the thought of a ‘superstar’ business leader when business is a collective endeavour and reward should be shared more fairly.

“Stakeholders of all types, including many shareholders, are looking for significant shifts in corporate cultures and behaviours.”

TUC General Secretary Frances O’Grady said: “There are millions of hardworking people in Britain who give more than they get back, but greedy executives take a lot more than they’ve earned.

“We have to redesign the economy to make it fair again and that means big reforms to bring fat cat repay down to earth.

“Executive pay committees have to change. They must be required to include workforce representatives who are able to speak up for any fair balance of pay with ordinary workers.”