Directors of FTSE 100 companies have seen their total earnings rise by 14% over the past 12 months, according to research by Income Data Services (IDS).
In monetary terms, L-tips took the average median total from £764,000 in 2011/12 to almost £1.3 million in 2012/13.
Basic pay rises for FTSE 100 directors were relatively restrained at 4%, while annual bonuses were 9% lower, decreasing from £606,900 in 2011/12 to £553,200 in 2012/13.
Steve Tatton, editor of the report, said: “These divergent pay trends highlight the complex make-up of boardroom remuneration, illustrating that while one part of a director’s pay package may go down, another part may go up.
“With nearly two-thirds of FTSE directors benefiting from a long-term incentive plan award in the latest year, the higher share-based payouts clearly made up for any ground lost in lower annual bonuses.”
Frances O’Grady, general secretary of the Trades Union Congress, added: “Britain’s top bosses are back to their old tricks as their pay is growing 20 times faster than the average worker.
“It’s one thing replacing bonuses with long-term incentive plans, but FTSE 100 companies are simply exploiting this change to make their fat cats even fatter.”