Prime Metropolis bosses scooped pay packets price £4.2m on common final 12 months as FTSE 100 CEO wages soared to a file excessive.
Evaluation reveals that common chief government pay on the largest London-listed firms jumped 2.2 per cent in 2023.
And it’s set to rise even additional this 12 months after prime brass at main companies bagged big raises.
AstraZeneca chief government Pascal Soriot was the best paid Metropolis boss in 2023 after taking house practically £17m.
Government salaries are again within the highlight attributable to considerations that higher-paying US companies might poach prime UK bosses.
Within the highlight: Firms have been slammed for handing CEOs bumper salaries and bonuses whereas staff struggled in the price of residing disaster
However firms have been slammed for handing CEOs bumper salaries and bonuses whereas staff struggled in the price of residing disaster.
Based on analysis by think-tank the Excessive Pay Centre, the median FTSE 100 CEO is now paid 120 occasions the quantity of a median full-time employee within the UK. That’s down in comparison with 124 occasions in 2022 however nonetheless greater than 108 occasions in 2021.
Nevertheless, companies have defended the bumper packages, saying they’re wanted to draw and retain prime expertise.
Pharma boss Soriot earned £16.9m in 2023 – taking his whole earnings to £135m throughout his 12-year tenure. The French businessman is in line for a good greater pay day of £18.9m this 12 months.
Remuneration has been a daily supply of controversy for Soriot. After making £13m in 2018, he complained that he was ‘the lowest-paid CEO in the entire business’ when bosses of rival biotech companies earned extra.
Soriot is credited with reviving AstraZeneca’s fortunes since taking the reins in 2012 – with shares hovering greater than 300 per cent.
In the meantime, analytics firm RELX paid chief government Erik Engstrom £13.64m, up 59 per cent on the earlier 12 months. That took his whole pay since taking the highest job in 2009 to effectively over £100m.
Rolls-Royce boss Tufan Erginbilgic raked in £13.6m in 2023, making him the third highest paid FTSE 100 boss. He has been hailed for steering a turnaround of the British engineering large, with Rolls’ share worth rocketing round 300 per cent since he took over in January 2023.
BAE Techniques boss Charles Woodburn was paid £13.45m, GSK CEO Emma Walmsley took house £12.72m and Pearson chief government Andy Chicken was handed £11.27m.
Luke Hildyard, a director on the Excessive Pay Centre, stated: ‘The rise in common CEO pay displays a small variety of firms making actually massive pay awards. Larger government pay has been a key demand of enterprise lobbyists lately.
‘This marketing campaign has had some success, with shareholders on the largest UK firms turning into extra prepared to wave by greater payouts.’
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