By the time they complete their first 34 hours of paid work, the median FTSE 100 CEO’s compensation will exceed the median annual wage for full-time U.K. workers, according to the High Pay Centre, a London-based think tank.
“Pay for top CEOs today is about 120 times that of the typical U.K. worker,” Luke Hildyard, the organization’s director said. “Estimates suggest it was around 50 times at the turn of the millennium or 20 times in the early 1980s.”
Median CEO pay in the U.K. was 3.6 million pounds ($4.9 million) in 2019, while the highest paid — Ocado Group Plc’s Tim Steiner — received 58.7 million pounds in total compensation. That’s 2,605 times more than the median employee, according to the company’s 2019 annual report. Median pay for all full-time workers in the U.K. is 31,461 pounds, according to the most recent figures from the Office for National Statistics.
Source: Al Jazeera