Report for FDs: Executive pay in retail is still rising

Executive pay awards in retail have risen 38% over the past five years as CEOs seek to insulate themselves against the risk of failure in tough market conditions.
According to research by Durler Consulting, despite the average length of tenure decreasing, retail CEOs now earn an average £1.5 million.
In the banking sector, four chiefs at HBOS and Royal Bank of Scotland paid the price of the clampdown on excessive bonuses by waiving their entitlement to severance packages.
This comes as the Financial Services Authority addressed an open letter to 28 banks criticising the role of excessive bonuses in contributing to the economic downturn. Voluntary benefits plans are being used to help employees deal with the the economic downturn.

Back to Employee Benefits Report for Financial Directors – November 2008