30-10-2007
Executive salary differentials highlighted
The chasm between the wages of the most senior executives of FTSE 100-listed companies and lower level executives has been highlighted yet again.
According to data released by research firm Income Data Services (IDS), which has been owned by Sweet & Maxwell since 2005, the salaries of these top executives have increased to £3.2 million over the last five years.
Before incentives and share options are taken into consideration, this increase equates to an average salary of £737,000 per year.
"Britain's top directors clearly have no shame," said Brendan Barber, general secretary of the TUC.
In contrast, of those employed in non-executive, full-time positions, the average salary has risen by a total of £5,000 over the last five years to around £30,000.
"Year in, year out they have been paying themselves far bigger rises than they are prepared to pay their staff while lecturing the rest of us on the need for low taxes," he added.
If you run your own business, you set your own salary. But if you have employees you need to have Employer's Liability Insurance.