UK CEO pay hits record high, gap with workers widens to 130 times
8 reported
A single-source report from The Guardian, citing data from the High Pay Centre, states that median pay for FTSE 100 chief executives reached £5.06 million in the last financial year, an 8.6% increase from the previous year and the highest on record. The report indicates that bosses of Britain’s largest listed companies are now paid 130 times the salary of the average full-time UK worker, up from 124 times the previous year, marking the widest gap since 2018. The High Pay Centre, a thinktank founded in 2011, is set to close after 15 years of campaigning for fairer pay. Its interim director, Andrew Speke, called the growing gap a “wake-up call” and urged a renewed focus on economic fairness. The article notes that incoming Prime Minister Andy Burnham has previously called for a public debate on high pay. The highest-paid CEO was Pascal Soriot of AstraZeneca, who earned £17.7 million, while GSK’s Emma Walmsley was the only woman in the top 10.
What’s reported
Median pay for FTSE 100 CEOs hit £5.06m in the last financial year, an 8.6% increase from £4.66m the previous year.
FTSE 100 bosses are paid 130 times the average full-time UK worker’s salary, up from 124 times.
The gap is the largest since the ratio hit 137 in the year to March 2018.
FTSE 100 firms spent £856.6m on pay, including £550m for chief executives.
The median pay for a full-time UK worker is £39,000, based on October estimates.
Pascal Soriot (AstraZeneca) was the highest-paid CEO at £17.7m.
Emma Walmsley (GSK) was the only woman in the top 10, with £15.6m.
The High Pay Centre is to close after 15 years.
Key figures
Andrew Speke, interim director of the High Pay Centre
Pascal Soriot, chief executive of AstraZeneca
Emma Walmsley, former chief executive of GSK
CS Venkatakrishnan, chief executive of Barclays
Wael Sawan, chief executive of Shell
Bill Winters, chief executive of Standard Chartered
Andy Burnham, incoming prime minister
Sources: The Guardian
