Friday, October 28, 2011

So much for austerity: Fat cat bosses give themselves 49% rises, bankers get £4.2 Billion and Shell rakes in 4.4 Billion - 28th Oct 2011

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.

A study of FTSE 100 companies by Incomes Data Services (IDS) showed that the 49% increase, which covers salary, benefits and bonuses, was higher than the 43% seen by chief executives.

Average bonus payments for directors increased by 23% from £737,000 in 2010 to £906,000 this year, said the report.

Steve Tatton of IDS said: "Britain's economy may be struggling to return to pre-recession levels of output, but the same cannot be said of FTSE 100 directors' remuneration.

"The generous remuneration packages that FTSE 100 directors now receive indicates a marked improvement in boardroom fortunes. Read More