Executive pay at FTSE 100 companies continues to show restraint in 2021, PwC analysis finds, though there has been a slight dip in the number of CEOs having their salaries frozen
With the 2021 AGM season now over, PwC has reviewed and analysed the executive remunerations decisions for FTSE 100 companies, which show that 2021 remuneration decisions demonstrated restraint by remuneration committees, with a 9% reduction in median total single total figure of remuneration for FTSE 100 CEOs, with a median of £2.94m in 2021 compared to £3.24m in 2020.
The impact of covid has influenced bonus payouts with 28% of CEOs receiving no bonus as a result of not meeting targets, or the bonus being cancelled or waived, in 2021 compared to 14% of CEOs in 2020.
There has also been widespread freezing of salaries with 45% of CEOs having no pay rises in 2021 compared to 52% in 2020.
