Arab Today, arab today britains top bosses earn 143 times more than staff
Last Updated : GMT 16:05:20
Arab Today, arab today
Arab Today, arab today

Britain's top bosses earn '143 times more' than staff

Arab Today, arab today

Arab Today, arab today Britain's top bosses earn '143 times more' than staff

Mark Bristow, CEO of Randgold Resources
London - AFP

 The heads of Britain's largest companies earned 143 times as much as their average employee last year, a study said, exposing the growing pay gap between bosses and workers.
The wage divide has nearly tripled since 1998, when the average chief executive of firms in the FTSE 100 earned 47 times as much as staff, the report found.
The British government has brought in laws to curb executive pay and bonuses since the financial crisis, but a severe squeeze on wage growth has fuelled public anger about highly-paid senior executives.
"When bosses make hundreds of times as much money as the rest of the workforce, it creates a deep sense of unfairness," said Deborah Hargreaves, director of the High Pay Centre think-tank, which wrote the report.
The largest pay gap was at mining group Randgold Resources, where boss Mark Bristow was paid £4.4 million ($7.36 million, 5.5 million euros) last year -- 1,500 as much as his average employee.
Martin Sorrell, who heads up marketing giant WPP, took home a pay package nearly 800 times bigger than his employees of £29.8 million, the study found.
At retailer Next, boss Simon Wolfson earned almost 460 times as much as his average worker in 2013 -- but then chose to distribute his bonus to staff.
The study comes after the Bank of England last week halved its pay growth forecast for this year to below the rate of inflation at 1.25 percent.
Governor Mark Carney said the figures reflected "relatively unprecedented weak wage growth" in Britain.
The gloomy forecast came after official data showed that annual pay fell by 0.2 percent in the second quarter of the year -- the first decline since the height of the financial crisis in 2009.
The squeeze on people's spending power comes even as Britain's growth picked up pace, with the economy now bigger than before the start of the global financial meltdown in 2008.
"The government needs to take more radical action on top pay to deliver a fair economy that ordinary people can have faith in," said Hargreaves.
The think-tank carried out the study using pay figures from company reports and data from the Pensions Investment Research Consultants.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britains top bosses earn 143 times more than staff Arab Today, arab today britains top bosses earn 143 times more than staff

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britains top bosses earn 143 times more than staff Arab Today, arab today britains top bosses earn 143 times more than staff

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday