• Advertise
  • About us
  • Terms and Conditions
  • Contact us
Tuesday, May 24, 2022
Australian Times News
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
      • UK Lottery
      • UK Lotto
      • EuroMillions
  • Lifestyle
    • Horoscopes
    • Health & Wellness
    • Recipes
    • Video
  • Entertainment
  • Travel
  • Expat Life
  • Move to Australia
No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
      • UK Lottery
      • UK Lotto
      • EuroMillions
  • Lifestyle
    • Horoscopes
    • Health & Wellness
    • Recipes
    • Video
  • Entertainment
  • Travel
  • Expat Life
  • Move to Australia
No Result
View All Result
Australian Times News
No Result
View All Result
Home News

Pay gap between bosses and workers continues to widen

UK think-tank says top bosses are earning about 120 times more than the average British worker. And the gap keeps increasing.

Mike Simpson by Mike Simpson
09-01-2021 07:00
in News
Image by StockSnap from Pixabay

Image by StockSnap from Pixabay

A leading UK think-tank estimates that top CEOs will need to work for less than a week – just 34 hours – to surpass the median yearly earnings of a typical British worker in 2021.

Pay for top CEOs today is about 120 times that of the typical UK worker, says the London-based High Pay Centre, which focuses on corporate governance and the causes and consequences of economic inequality.

This means that the pay gap between bosses and employees continues to widen markedly. Estimates suggest CEO pay was around 50 times that of the average worker at the turn of the millennium, and 20 times that of the average worker in the early 1980s.

Concern about the governance of big businesses

“These figures will raise concern about the governance of big businesses and whether major employers are distributing pay in a way that rewards the contribution of different workers fairly,” the centre’s director, director Luke Hildyard, said.

“They should also prompt debate about the effects that high levels of inequality can have on social cohesion, crime, and public health and wellbeing.”

He added: “Factors such as the increasing role played by the finance industry in the economy, the outsourcing of low-paid work and the decline of trade union membership have widened the gaps between those at the top and everybody else over recent decades.”

But times are now (slightly) tougher for the bosses

The think-tank based its annual calculations on analysis of disclosures in companies’ annual reports, combined with government statistics.

AlsoRead...

May's Weather Forecast

Weather Forecast 24 May 2022

24 May 2022
May's Weather Forecast

Weather Forecast 23 May 2022

23 May 2022

But in a sign that times have got tougher for CEOs at FTSE 100 companies (although not by much), the High Pay Centre disclosed that last year top executives had to work just 33 hours – one hour less than the estimate for 2021 – in order to surpass the median yearly earnings of a typical British worker.

This is because CEO pay levels are remaining essentially flat, while pay for UK workers has increased slightly.

Median FTSE 100 chief executive pay was £3.61-million (AUD6.31-million) in 2019, the last year for which a full set of data is available, the High Pay Centre said.

Tags: businessCorporate governanceExecutive payPayUnited Kingdom
DMCA.com Protection Status

SUBSCRIBE to our NEWSLETTER

[mc4wp_form id=”2384248″]

Don't Miss

Weather Forecast 24 May 2022

by Adamu
24 May 2022
May's Weather Forecast
Australia Weather

Be prepared for any weather with our daily weather forecast for Australia.

Read more

Chris Pratt and his wife Katherine welcome their second child

by Shannon Alexander
24 May 2022
Chris Pratt and his wife Katherine welcome their second child
Lifestyle

Chris Pratt and his wife Katherine has welcomed their second child over the weekend. The couple shared the date of...

Read more

Sam Fisher gets advice from former captain while facing drug charges

by Shannon Alexander
23 May 2022
Sam Fisher gets advice from former captain while facing drug charges
Lifestyle

Sam Fisher was recently arrested for some serious drug trafficking charges and has chosen to remain in custody. Riewoldt gives...

Read more

Liverpool signs Fabio Carvalho for the new season on July 1st

by Shannon Alexander
23 May 2022
Liverpool signs Fabio Carvalho for the new season on July 1st
Lifestyle

After a devastating loss in obtaining a Premier League title on Sunday, Liverpool is adding a new player to it’s...

Read more

Erin Jayne Plummer suddenly dies aged 42 over the weekend

by Shannon Alexander
23 May 2022
Erin Jayne Plummer suddenly dies aged 42 over the weekend
Lifestyle

Popular tv host Erin Jayne Plmmer has sadly passed on this weekend. As tributes flow, the cause of her death...

Read more

Horoscopes: 23 May 2022 – Monday

by Adamu
23 May 2022
Free Daily Horoscope - Astrology
Horoscopes

Keep your karma positive with these daily free horoscopes!

Read more

Weather Forecast 23 May 2022

by Adamu
23 May 2022
May's Weather Forecast
Australia Weather

Be prepared for any weather with our daily weather forecast for Australia.

Read more
Load More

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status

  • About us
  • Write for Us
  • Advertise
  • Contact us
  • T&Cs, Privacy and GDPR
No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
      • UK Lottery
      • UK Lotto
      • EuroMillions
  • Lifestyle
    • Horoscopes
    • Health & Wellness
    • Recipes
    • Video
  • Entertainment
  • Travel
  • Expat Life
  • Move to Australia

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status