Boardroom pay bonanza

While Politicians are being lambasted for claiming expenses for cutting Wisteria and financing non-existent homes, not all Chief Executives of the FTSE100 Companies are getting the point.

The Largest Companies in the UK seem to think they are in the football leagues, with a Premiership of the top 100 and a Champion’s League of the FTSE250.

The average remuneration for a top 100 company CEO in 2008 was £2 600 000 an increase of 7% on 2007, whilst the top 250 average pay was £ 1 400 000 up by 5% on the previous year.

Not only does it appear that the CEO thinks they are worth a large salary, but they have scant regard for anyone else in their organisation, receiving on average 60% more than the next highest paid Director.

While profits and share prices have slumped, bonuses have remained the same. The FTSE100 fell by 30% last year, but CEOs maintain an average £510 000 bonus payment.