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08/10/2004
Pay gap between boardroom and shopflor widens: study
The pay gap between the boardroom and shopfloor has widened again, after a new study found that the average pay for executives rose by 16% compared just 4.3% for ordinary workers.
The study of total cash rewards received by directors of FTSE 350 companies found that UK managers and professionals on average now receive £127 for every £100 of salary they earned in 1998.
Directors in 2004 have a salary of £213 on average for every £100 of salary paid to them in 1998.
The figures form part of the Directors' Pay Report 2004, published by Incomes Data Services.
The surge in boardroom pay over the past year has come about in spite of, or possibly because of, the greater involvement of institutional investors in shaping remuneration policies, IDS said.
Steve Tatton of IDS said: "If the government hoped that more involvement by investors would dampen down boardroom excess then the expectation has turned out to be misplaced.
"This is partly because the intent behind the drive for greater corporate governance has always been ambiguous. It is not clear whether the aim is simply to prevent corporate abuse or to curb top pay levels."
The report analysed the salaries, annual bonus payments, long-term incentive plans and benefits of some 1,360 executive directors in Britain's top 350 listed companies, based on financial years ending in the 12 months to 30 June 2004.
(gmcg)
The study of total cash rewards received by directors of FTSE 350 companies found that UK managers and professionals on average now receive £127 for every £100 of salary they earned in 1998.
Directors in 2004 have a salary of £213 on average for every £100 of salary paid to them in 1998.
The figures form part of the Directors' Pay Report 2004, published by Incomes Data Services.
The surge in boardroom pay over the past year has come about in spite of, or possibly because of, the greater involvement of institutional investors in shaping remuneration policies, IDS said.
Steve Tatton of IDS said: "If the government hoped that more involvement by investors would dampen down boardroom excess then the expectation has turned out to be misplaced.
"This is partly because the intent behind the drive for greater corporate governance has always been ambiguous. It is not clear whether the aim is simply to prevent corporate abuse or to curb top pay levels."
The report analysed the salaries, annual bonus payments, long-term incentive plans and benefits of some 1,360 executive directors in Britain's top 350 listed companies, based on financial years ending in the 12 months to 30 June 2004.
(gmcg)
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Female managers over 40 years old are earning 35% less than men, according to new data by the Chartered Management Institute (CMI) and XpertHR. To earn the same as a male manager over a career, a woman would have to work the equivalent of over 14 years more.
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Commission On Minimum Wage Visit
Two Low Pay Commissioners are to visit London next week on a fact-finding visit about the National Minimum Wage. The visit is one of a number of planned trips the Low Pay Commission is making around the UK during 2011 to "gather information on how the minimum wage is operating".
Commission On Minimum Wage Visit
Two Low Pay Commissioners are to visit London next week on a fact-finding visit about the National Minimum Wage. The visit is one of a number of planned trips the Low Pay Commission is making around the UK during 2011 to "gather information on how the minimum wage is operating".
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Funding Boost Of £455m For Equal Pay Claims
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Report highlights gender pay gap in the UK
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Report highlights gender pay gap in the UK
Women are still being paid less than men, thirty years after the introduction of equal pay legislation, a new report has found. The government-commissioned "Shaping a Fairer Future" report from the Women and Work Commission found that women are earning 17% less than men. This was "bad for women and bad for Britain", the report said.
09 February 2006
Parliament cleaners receive pay rise
Cleaners at the Houses of Parliament are to receive a pay rise, after settling their long-running pay dispute. The workers' rate of pay will increase in stages from £5.20 to £6.70 per hour by next January, under the terms of a deal agreed with the Transport and General Workers Union.
Parliament cleaners receive pay rise
Cleaners at the Houses of Parliament are to receive a pay rise, after settling their long-running pay dispute. The workers' rate of pay will increase in stages from £5.20 to £6.70 per hour by next January, under the terms of a deal agreed with the Transport and General Workers Union.
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