“Fat Cat Tuesday” — Top company chiefs’ pay in first few days of 2016 passes average worker’s annual
“Fat Cat Tuesday” — Top company chiefs’ pay in first few days of 2016 passes average worker’s annual salary
4 January 2016 10.00pm.
Top executives will have been paid more than the average annual salary of a worker by tomorrow, dubbed Fat Cat Tuesday, according to a new study.
Calculations by the High Pay Centre think tank showed that the pay of company executives returning to work in the new year will pass the UK average salary of £27,645 by late afternoon on Tuesday.
FTSE 100 chief executives were paid an average £4.96 million a year in 2014, and the report found that even if they are assumed to work long hours with few holidays, this is equivalent to hourly pay of more than £1,200.
The typical value of a FTSE 100 chief executive incentive award increased by nearly 50% of salary since the previous year, while the annual pay of the average UK worker increased by just £445, from £27,200 to £27,645 in 2015, said the think tank.
More:
http://www.thecourier.co.uk/news/uk/fat-cat-tuesday-top-company-chiefs-pay-in-first-few-days-of-2016-passes-average-worker-s-annual-salary-1.918128
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