Average annual pay for a FTSE 100 chief executive officer (CEO) could rise to nearly £6 million in 2014, according to research by the High Pay Centre.
Its research, which analysed chief executives’ pay across the 67 FTSE 100 companies that reported their remuneration policies in the final three months of 2013, found that the average annual pay for this group currently stands at around £4.5 million.
The research also found:
- Median pay was £3.9 million, a small increase from the £3.8 million recorded in 2012.
- The average planned payout for target performance in 2014 is £3.4 million.
- For maximum performance, the average CEO would earn £5.8 million.
Deborah Hargreaves (pictured), director of the High Pay Centre, said: “These figures show that the new regulations are not enough to bring top pay back to a level that is sensible, fair or proportionate.
“Over the past 15 years, pay for a FTSE 100 CEO has gone from being 60 times the average UK worker’s [pay] to 160 times, without any justification.
“All workers should share in a company’s success. Our economy cannot succeed in the long term if a tiny group at the top pull further and further away from everybody else.”