Chief executive pay among FTSE 100 companies reached an unprecedented average, marking the third consecutive year of pay increases. In the last financial year, the median pay for FTSE chief executives climbed to 4.58 million, raising concerns over income disparity amid the cost of living crisis. Total executive compensation exceeded 1 billion, with a notable increase in payouts compared to previous years. High Pay Centre director Luke Hildyard emphasized growing inequality and dissatisfaction among lower and middle-income earners as executives continue to earn excessive salaries, particularly at companies like Melrose Industries.
The analysis found that the average FTSE 100 chief executive is now paid 122 times the salary of the average full-time UK worker, reflecting a growing disparity.
The median pay of a FTSE chief executive climbed to 4.58m in the last financial year, an increase of nearly 7%, showing significant pay growth despite economic struggles.
FTSE 100 companies spent more than 1bn on executive pay, with 217 executives receiving almost a quarter of a billion pounds more than in the previous year.
Luke Hildyard stated that these figures will feed a growing sense of unfairness, as low and middle earners see wealth concentrated among top executives.
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