Pay Rises Soar By 49% For UK's Top Bosses

StevieJ

Good to see that we are all in it together, looks like boom time is with us again with these vastly increased pay rises, surely no chance of a double dip when private industry are increasing profit bonuses so

Britain's top company directors have enjoyed a pay rise of almost 50% in the past year - taking their average earnings to almost £2.7m.

Another IDS report said workers in the private sector received an average pay rise of 2.6% this summer.

http://uk.finance.yahoo.com/news/Pay-Rises-Soar-By-49-For-UK-skynews-2917704154.html?x=0

IronWolf

I'm highly sceptical of this "study". For one thing a lot of companys only have 2010 reports out, so they're comparing 2010 remuneration to 2009, which was a very bad year for businesses.

Executive salaries and bonuses are highly dependent on the financial results of a company, which is how it should be. But this creates wild swings in pay.

Did it make the news when executive pay fell off a cliff in 2008 and 2009?

Butterfly_Brain

We are all in this together !
Yeah right
What a kick in the teeth for the low paid who struggle to make ends meet.

Generali

StevieJ wrote: »

Good to see that we are all in it together, looks like boom time is with us again with these vastly increased pay rises, surely no chance of a double dip when private industry are increasing profit bonuses so



http://uk.finance.yahoo.com/news/Pay-Rises-Soar-By-49-For-UK-skynews-2917704154.html?x=0

IMHO it's not for the Government to limit rates of pay which I guess you are alluding to.

At the same time, I've run a few companies and I'd never take bread from the table of my staff. If I have to find redundancies then so be it but I'd not take a pay rise at the expense of the rest.

IronWolf

But if you don't reward CEOs for making efficiency savings, including redundancies, then hardly any would do it and eventually companies wouldn't survive, they'd be too disadvantaged competitively.

The_White_Horse

i think the point here is: so what? private companies can pay what they like. If people think they pay too much, stop using the product.

it is only public sector pay we should concern ourselves with. that does include banks in state ownership.

StevieJ

Mr Ed, yes so what, I wonder if the relevant workers share your disinterest? plus it is interesting to note that you expect people to peruse comany financial statements before they purchase anything
In addition a large number of the 'efficiencies' rewarded were achieved by off shoring jobs to India and Eastern Europe, you may not be bothered but I know a large proportion of the British population are. All in it together :rotfl:

Mr_Mumble

Russian oligarchs get big pay rises and suddenly they're British?! Around one-third of FTSE-100 companies garner most of their profits in Britain, the other two-thirds do not. For the silly comparison with British workers pay to have any veracity you'd have to believe that if Manchester United listed in Hong Kong they'd become a Chinese football club.

StevieJ

Have they spelt his name wrong then? should it be Sorellski

Sir Martin Sorrell, who heads the advertsing giant WPP (LSE: WPP.L - news) and ranked sixth among top paid executives, defended remuneration increases.
He told Sky News that pay is about "both short- and long-term incentives" and helped keep Britain competitive.

Mr_Mumble

British people should be very happy a world leading, globally diversified company such as WPP decides to list in London!

Oddly no comment from the directors of the likes of Kazakhmys, Fresnillo, ENRC, Glencore or even SABMiller. These are foreign companies that just happen to be listed in London. Use the FTSE-250 as a barometer and then it is a debate worth having.

Also, why do you want to keep these Indians and eastern Europeans poor, StevieJ?

the_flying_pig

dunno if the figures are misleading or not [iron wolf makes a sensible suggestion about 2009] but however you look at it 49% is still a hilarious figure IMO.