The pay of FTSE 100 directors grew by 14 per cent in the last year - 20 times faster than that of the average worker.
The pay of FTSE 100 directors has grown by 14 per cent in the past year – 20 times faster than that of the average worker, according to figures released today by Income Data Services which tracks pay trends.
Recent figures from the Office for National Statistics show that total pay (including bonuses) across the labour market grew by just 0.7 per cent in the period July to September 2013 compared with a year earlier.
This is well below the Consumer Price Index (2.2 per cent) and the Retail Price Index (2.6 per cent).
But for FTSE 100 directors pay grew during the same period by a whopping 14 per cent – 20 times faster than that of the average worker.
Commenting on the figures, TUC general secretary Frances O’Grady said Britain’s top bosses were “back to their old tricks”.
“It’s one thing replacing bonuses with long-term incentive plans, but FTSE 100 companies are simply exploiting this change to make their fat cats even fatter,” she said.
“The time has come for legislation to put ordinary workers on the pay committees of companies. This is the only way to bring some sanity to the way in which directors are paid.”Like this article? Sign up to Left Foot Forward's weekday email for the latest progressive news and comment - and support campaigning journalism by making a donation today.