It emerged today that Barclays boss Antony Jenkins was paid more than 80 times the bank’s lowest paid workers.
The starting salary at the bank is just £13,500 a year, making some workers eligible for tax credits.
Jenkins, however, was paid a basic salary of £1.1 million, plus a share award of up to £4.4m and a pension contribution of £363,000.
To add insult to injury, the bank today announced that it would be making 3,700 job cuts.
With a High Pay Centre report out tomorrow on executive pay rates, Left Foot Forward has looked at the pay gap between those at the top and those at the bottom of some of Britain’s best known firms.
Number of employees: 3,048 Profit per employer: £33,713
Number of employees: 84,990 Profit per employee: £102,059
Number of employees: 372,338 Profit per employee: £8,529.88
Is it credible to assert that the chief executive of Tesco (to pick one of the three at random) is 384 times more industrious than the average Tesco employee?
No, we didn’t think so.