18 Aug, 2014
UK CEOs earning 143 times more than their company averages, new pay study reveals – The Guardian
The bosses of Britain’s 100 biggest listed companies are earning on average 143 times more than their staff, according to data that exposes the growing imbalance between how the nation’s workforce and its business leaders are rewarded.
The pay gap is widest at Rangold Resources, where boss Mark Bristow was paid £4.4m last year, nearly 1,500 times that of his average employee, many of whom work in the company’s African mines. The study, published today by the High Pay Centre, also singles out marketing giant WPP and the retailer Next, both companies with large British workforces.
WPP founder, Sir Martin Sorrell, received nearly £30m last year, 780 times the £38,000 earned by his average worker. At Next, Lord Wolfson received £4.6m, while his staff, most of whom work on the shop floor, typically took home £10,000 – about 459 times less than their boss. The disparity at Next would have been greater had Wolfson not chosen to waive a £3.8m bonus and share the sum among the company’s 20,000 staff.
Read the rest: CEOs earning 143 times more than their company averages, new pay study reveals | Business | The Guardian.
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