The average FTSE 100 CEO will have earned more this year than the median full-time worker's annual salary by 1 p.m. London time on Thursday, according to estimates from the High Pay Centre think tank.
The calculations are based on the High Pay Centre's analysis of the most recent available CEO pay figures from British blue-chip companies' annual reports, compared with government data on pay levels across the U.K. economy.
Median FTSE 100 CEO pay (excluding pension) currently stands at £3.81 million ($4.84 million), 109 times the median full-time worker's pay of £34,963, the think tank said.
This represents a 9.5% increase on median CEO pay levels as of March 2023, while the median worker's pay has risen by 6%.
The High Pay Centre highlighted that in December, Legal and General Investment Management adjusted its executive pay guidelines to permit companies it invests in to offer more generous incentive payments.
Persons:
Britain aren't, Luke Hildyard
Organizations:
General Investment Management
Locations:
London, Britain