12 June 2012
FTSE 100 director pay up 12% in 2011, report shows
Executive pay among the UK's biggest firms climbed by 12 per cent over the course of 2011, new research has revealed.
According to a study conducted by consultancy MM&K and proxy voting agency Manifest, senior officials at leading companies typically received total remuneration of £4.8 million last year.
This is markedly higher than the figure recorded last year and the rise occurred despite the fact the FTSE 100 share index shed six per cent from its value over the 12-month timeframe.
Basic salaries for chiefs at blue-chip organisations went up by 2.5 per cent, but a combination of deferred bonuses and long-term awards helped lift this figure higher.
Indeed, around a quarter of such professionals enjoyed pay and bonus hikes of 41 per cent.
Contrastingly, employees at companies listed on London's leading stock exchange got average pay rises of just one per cent.
MM&K and Manifest's report stated: "Shareholders are enraged, the survey results are likely to increase their state of agitation."
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Posted by Chris Stevenson