UK bosses earn 117 times average worker despite pay cut

UK bosses earn 117 times average worker despite pay cut

Business

According to the latest report released, the average salary of the executives of UK dropped down by 13% between 2017 and 2018. However, it showed that the executives still earned 117 times more than the average salary of a full-time worker in the UK.

The CIPD, which is the professional body for the HR found out that a boss of a company that is listed among the top 100 companies in the UK had an average salary of £3.5 million a year; while a full-time worker earns £29,574 on an average per year.

Also, the report concluded that there was a huge gender gap at the top of these renowned firms in the UK. In 2017, only seven companies out of 100 had female bosses but the number further dropped down to six companies in the year 2018.

The CEO of CIPD, Peter Cheese stated that the gap between the pay of the employees at the top firms and that of the bottom firms was unacceptably extensive. He added to his statement that the CEOs of the top firms should be questioned whether they are completely focusing on the financial measures of their companies to maintain the high prices of the shares instead of concentrating on the long-term health of their companies.

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James founded Voo Times with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. He is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the business industry, James also contributes his knowledge for the business section of the website.

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