FTSE 100 finance directors have seen their total earnings increase by an average of 34.1% in the last financial year, and are now averaging £2m per annum according to research published today.
Incomes Data Services (IDS), which compiled payouts of salaries, bonuses and long-term incentive plans, says that the countries top directors’ pay increased 49%, while chief executives’ total earnings rose by 43%.
The average bonus payments for FTSE 100 directors increased by 23%, IDS adds.
“Britain’s economy may be struggling to return to pre-recession levels of output, but the same cannot be said of FTSE 100 directors’ remuneration,” said Steve Tatton, editor of the IDS report.
According to the IDS data, the increase in long-term incentive plans and bonus payments received by FTSE 100 directors more than made up for a modest 3.2% growth in base salary that FTSE 100 directors averaged over the last year.