A fair world - CEO up 30% A fair world - CEO up 30%
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  1. #1

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    Default A fair world - CEO up 30%

    http://www.thisismoney.co.uk/news/ar...9&in_page_id=2

    Fat-cat pay surge widens gap
    Jonathan Prynn, Evening Standard
    2 October 2006

    Boardroom pay has exploded by almost 30%, more than seven times the rate for ordinary workers.

    A survey today showed top company directors' pay packages soaring to record levels with the increase the biggest for many years.
    The 28% surge takes the average pay for a chief executive at one of Britain's biggest companies to £2.4m, almost 100 times average earnings. The going rate for a finance director is £1.1m.

    The acceleration in bosses' pay is opening up an ever widening gap between those running companies and the shop floor. Last year the average worker's pay packet went up by 3.7%, while inflation inched ahead by 2.5%.

    The Guardian newspaper's annual survey of executive pay, conducted in association with pay consultancy Reward Technology Forum, revealed that the highest paid chief executive is Mick Davis of Xstrata, an Anglo-Swiss mining group with in copper, coal, gold and zinc. He earned nearly £15m last year.

    Mr Davis is one of a number of mining bosses at the top of the pay league. They have made bumper gains on share options and other incentive plans as a result of the boom in metals prices.

    In total there are now eight chief executives who have basic salaries - before any bonuses or other rewards - of more than £1 million, or £20,000 a week. They include Tesco chief executive Sir Terry Leahy, BP's Lord Browne and Charles Allen, the chief executive of under-performing ITV, who is stepping down.

    Part-time chairmen, who generally work no more than two days a week, earn an average of £270,000 plus expenses. However, the highest paid non-executive chairmen earn substantially more. Sir John Sunderland at Cadbury-Schweppes took home £3.5m last year.

    The survey shows more than 200 directors receiving more than £1m. It calculates directors' total packages by adding basic pay, cash bonuses and gains from long-term incentives, together with the value of benefits in kind like cars, health insurance and help with school fees.

    The best paid woman was Dame Marjorie Scardino, chief executive of the Pearson group, which publishes the Financial Times and owns Penguin books. She received £1.8m including a bonus of more than £1m. Two other women received more than £1m - Linda Cook, head of gas and power at oil group Shell, and Pearson's Rona Fairhead.

    The survey also highlights the vast pensions lined up for some of the UK's most senior businessmen. BP's Lord Browne is set to receive £991,000 a year after he retires from the oil group in 2008.

    The survey also reveals the best and worst paid employees. Top of the pile is venture capital specialist 3i which paid its staff an average of £174,625 each inn 2005 - up 60 per cent from a year earlier.

    At the other end of the scale is Kazakh copper mining company Kazakhmys, now listed in London, where the average salary of its 64,000 miners is just over £2,000 a year.

    The British company with the worst-paid staff is Next, whose staff - many of whom are part-time - earned an average £10,306.

  2. #2

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    Good. The more they're paid the better.

    I used to contract at Cadbury Schweppes and they paid me a nice £60/hr.

    Which was nice.

    Now back to work, you useless low -paid permie scum.


  3. #3

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    Quote Originally Posted by DimPrawn
    Good. The more they're paid the better.

    I used to contract at Cadbury Schweppes and they paid me a nice £60/hr.

    Which was nice.

    Now back to work, you useless low -paid permie scum.

    £60/hr? That's what I make as a permie. You are cheap.

  4. #4

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    I used to contract at Cadbury Schweppes and they paid me a nice £60/hr.


    Why do you think I left!



    Haven't you got someones to lick today Francko?

  5. #5

    Better than AtW

    sasguru - scorchio!


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    Quote Originally Posted by Francko
    £60/hr? That's what I make as a permie. You are cheap.
    Oh dear. That is a shame. Have you applied for tax credits yet?
    Hard Brexit now!
    #prayfornodeal

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    I believe the conversation went a little like this;

    "DimPrawn, the choice is yours. Either leave on your own two feet now OR be dragged out by security"

    Mailman

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    Well I thought the chocolates in the staff shop were free!


  8. #8

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    seems to me that everybody is doing really well these days and rates are going through the roof,

    bit like in the 80's when the economy was doing really well

    conclusion - everybody's getting rich

    enjoy it while you can

    Milan.

  9. #9

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    How does one become a ceo
    do you have to climb the ladder in the company or do they take someone externally

  10. #10

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    Quote Originally Posted by andy
    How does one become a ceo
    do you have to climb the ladder in the company or do they take someone externally
    Like sasguru, you would have to repeatedly please most of the board male members. If they don't get bored of abusing you sexually, then they make you a director.

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