Fat cat criticism looms over 800,000 executives

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Chief executives earned an average of 800,000 (€1.3m) last year, according to research that is set to provoke fresh criticism of fat cat boardroom pay.

The Executive Remuneration Review found that directors' average pay awards were running at 8%, well above the 3% to 4% typically given to most UK staff.

Andy Christie, of New Bridge Street Consultants, a contributor to the review, said that no company would wish to step out of line by limiting pay increases.

Chief executives in the top 30 FTSE 100 companies have average basic salaries of just over 600,000 last year, rising to just over 800,000, including bonuses. Executives were typically awarded bonuses that were equivalent to 24% of their basic salary.

Of the 1,457 executives in the report, only 10% are women. Male boardroom executives earn 181,300 on average, and female counterparts 145,000. Executives earn 137,000 on average in the South East, and 97,000 in the Midlands. About 23% of executives were on notice periods of more than 12 months. The average executive company car is worth 47,500.

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