Arab Today, arab today uk bosses \enjoy bonus boom\ despite weak economy
Last Updated : GMT 05:35:14
Arab Today, arab today
Arab Today, arab today

UK bosses \'enjoy bonus boom\' despite weak economy

Arab Today, arab today

Arab Today, arab today UK bosses \'enjoy bonus boom\' despite weak economy

London - AFP

British bosses saw their pay packets surge over the past year on the back of a \"bonus boom\" despite the fragile economy, a survey showed on Wednesday. The basic salary of chief executives rose by just 1.8 percent over the last 12 months, but \"leapt\" by 15.8 percent when bonuses were included, the Chartered Institute of Management (CIM) said in its national management salary study. The survey was based on data taken from more than 43,000 executives across 180 organisations in Britain. The average company chief executive salary stood at more than £215,000, compared with about £43,000 for a middle manager, according to the CIM. \"It\'s hard to believe that company directors and CEOs have seen such a big leap in bonus payments when the UK\'s economic performance remains so sluggish,\" said CIM boss Ann Francke. \"If organisations aren\'t performing, leaders shouldn\'t get these bumper rewards, especially when pay increases for all other management levels have been so much smaller.\" The CIM added that the average chief executive in Britain was paid almost 20 times as much as in 1973, which was when the survey was launched.

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