FTSE CEOs earn 386 times the pay of a worker earning the national living wage (NLW), according to research by the Equality Trust, which is calling for support from the public to put pressure on the government to introduce mandatory pay gap reporting
Based on analysis of the 2015 accounts of all the FTSE 100 companies, the charity says the UK’s top bosses earn an average of £5.3m each year, while 67% are paid more than 100 times the average UK salary.
Dr. Wanda Wyporska, executive director of The Equality Trust, said: ‘Pay inequality drives wider inequality, and we know this is bad for businesses, bad for our economy and bad for our health, our education and our wider society.
‘We need far greater transparency on company pay practices to challenge poverty pay and executive excess at the same time. That’s why we’re calling on government to introduce mandatory reporting for large and medium businesses on the pay gap between their highest and average paid employee.’
The Equality Trust is seeking support for a petition calling on government to introduce mandatory pay ratios.
Pay Tracker: Comparing Chief Executive Officer pay in the FTSE 100 with average pay and low pay in the UK is here.
The Equality Trust petition is here.
