[UK] FTSE 100 bosses had made more than an average worker’s annual salary by midday

Top bosses at the UK’s 100 biggest listed firms had made more money by midday on January 6 than their average worker will in the entire year, The National reports.

According to a new analysis from campaign group the High Pay Centre, the median pay of FTSE 100 chief executives is £4.22 million or 113 times the median full-time worker’s wage of £37,430.

The chief execs had to return to work for a mere three days this year to reach annual pay parity with their employees. The milestone was reached by midday, an hour earlier than in 2024 when the feat took until 1pm.

The High Pay Centre reportedly reached the calculations via recent pay disclosures in annual reports and government statistics. It said the study highlights the huge disparity in pay for bosses and their staff, a gap that has grown over recent decades.

Luke Hildyard - director of the High Pay Centre - said, “A feeling that the economy works for the enrichment of a tiny elite at the expense of wider society is an underrated cause of populist anger and support for extremist politics. Policymakers who fail to address this inequality are storing up some big problems for the future.

“Reforms introduced by the new government enabling trade unions to reach more workers should help ordinary employees win a fairer share of income that is currently captured by super-rich executives and investors.

"Bolder measures like representation for elected worker directors on company boards and caps on executive pay would do more to ensure that the wealth generated by the UK economy is shared across the country in a way that’s sensible, sustainable and proportionate.”

Paul Nowak - general secretary of the Trades Union Congress - said, “Every working person plays a part in producing Britain’s wealth. But while millions of low-paid workers are still feeling the effects of the cost of living crisis, people at the top are taking more than their fair share.”

Source: The National

(Quotes via original reporting)

Top bosses at the UK’s 100 biggest listed firms had made more money by midday on January 6 than their average worker will in the entire year, The National reports.

According to a new analysis from campaign group the High Pay Centre, the median pay of FTSE 100 chief executives is £4.22 million or 113 times the median full-time worker’s wage of £37,430.

The chief execs had to return to work for a mere three days this year to reach annual pay parity with their employees. The milestone was reached by midday, an hour earlier than in 2024 when the feat took until 1pm.

The High Pay Centre reportedly reached the calculations via recent pay disclosures in annual reports and government statistics. It said the study highlights the huge disparity in pay for bosses and their staff, a gap that has grown over recent decades.

Luke Hildyard - director of the High Pay Centre - said, “A feeling that the economy works for the enrichment of a tiny elite at the expense of wider society is an underrated cause of populist anger and support for extremist politics. Policymakers who fail to address this inequality are storing up some big problems for the future.

“Reforms introduced by the new government enabling trade unions to reach more workers should help ordinary employees win a fairer share of income that is currently captured by super-rich executives and investors.

"Bolder measures like representation for elected worker directors on company boards and caps on executive pay would do more to ensure that the wealth generated by the UK economy is shared across the country in a way that’s sensible, sustainable and proportionate.”

Paul Nowak - general secretary of the Trades Union Congress - said, “Every working person plays a part in producing Britain’s wealth. But while millions of low-paid workers are still feeling the effects of the cost of living crisis, people at the top are taking more than their fair share.”

Source: The National

(Quotes via original reporting)