The median compensation of FTSE 100 chief executives hit $5.3 million in 2023, according to a think tank
Pay for the bosses of Britain’s top companies has increased to the highest level on record and now outpaces the compensation of the median full-time worker in the country by 120 times, a new study has revealed.
According to the High Pay Centre, a UK think tank that focuses on the causes and consequences of economic inequality, the median FTSE 100 CEO was paid £4.19 million ($5.34 million) in 2023.
This is the highest level of median executive pay on record, and an increase of 2.2% from 2022. The median earnings of a full-time worker in the country, meanwhile, stood at £34,963 last year. The annual compensation of UK executives is thus higher than what the median worker is able to earn in a lifetime of employment.
The number of FTSE 100 companies awarding eight-figure pay packages of over £10 million more than doubled, from four firms in 2022 to…