Ah, the age of austerity. See how everyone is impacted?
Chief executives of FTSE 100 companies saw their median earnings soar 32 percent to £3.5 million last year, prompting complaints that rewards are out of line with share prices and employees’ pay.The problem is not only limited to the UK, but Canada as well.
The median increase – the midpoint between the top and bottom earners – was more than treble the 9 percent rise in the FTSE 100 index over the period, according to a survey by MM&K, the reward consultancy, and Manifest, the proxy voting agency.
The findings came as workers suffer the most prolonged squeeze in real wages since the 1920s. Average earnings grew less than 2 percent last year, barely half the rate of inflation. FTSE 100 chief executives’ average total pay last year was 120 times that of the average employee, a multiple that has risen from 45 times since 1998, according to the report.
