Exec pay outstrips workers’ salaries by more than 100 times

A report published today shows that levels of chief executive pay are now 109 times that of the median full-time worker in Britain.

Research by the High Pay Centre has found that the pay of the CEOs of Britain’s biggest companies surged by 39per cent in the aftermath of the covid pandemic.

Median pay for a FTSE-100 CEO increased from £2.46million in 2020 to £3.41million in 2021, the research finds.

The GMB trades union has described this chasm between executive pay and workers’ salaries as “sickening”.

Fair pay: GMB’s Gary Smith

“We’re in the midst of a cost-of-living crisis with many workers unable to heat their homes and feed their families,” Gary Smith, the GMB’s general secretary, said.

“To see CEO pay rocketing to more than 100 times the average salary is sickening.

“There’s nothing wrong with being paid for a job well done, but the lack of ‘restraint’ from those at the top is a slap in the face to workers who are being denied a proper pay rise.

“That’s why across the country GMB members are taking action to defend their living standards and make work better.”

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News, views and analysis about the people of Croydon, their lives and political times in the diverse and most-populated borough in London. Based in Croydon and edited by Steven Downes. To contact us, please email inside.croydon@btinternet.com
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