UK

6 Business Chiefs Who Are Ludicrously Better Paid Than Their Staff

18/08/2014 11:36 BST | Updated 19/08/2014 16:59 BST
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Britain's business leaders have enjoyed seeing their pay packets soar as the economy recovers from the financial crash, but average workers have not been so lucky.

According to the High Pay Centre think-tank Britain's top executives are now paid around 131 times more than their average employees.

In 1980, analysis of six major firms found that chief executives were paid between 13 and 44 times their average employee, while in 1998, the average FTSE 100 CEO made 47 times their average employee. Last year, chief executives made around 174 times that of the average British worker.

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High Pay Centre director Deborah Hargreaves said: "When bosses make hundreds of times as much money as the rest of the workforce, it creates a deep sense of unfairness.

"Britain’s executives haven’t got so much better over the past two decades. The only reason why their pay has increased so rapidly compared to their employees is that they are able to get away with it."

Now the High Pay Centre has singled out the business leaders who are paid many times more than their average employees, comparing figures in the company annual reports to those for average pay at each firm provided by Pensions and Investment Research Consultants.

HuffPost UK presents just six ludicrously well-paid chief executives.

6 Insanely Over-Paid CEOs/Business Chiefs

The figures come after the coalition government introduced measures aimed at curbing executive pay in 2013. The pay figures include bonuses, so-called long-term incentive plans (LTIPs) and other benefits.

A spokesperson for the Department for Business, Innovation and Skills said: "The government has introduced comprehensive reforms to give shareholders more powers in order to restore the link between top pay and performance, which in recent years has become excessive and increasingly disconnected.

"In October 2013 new laws reforming the governance of top pay came into force, boosting transparency by arming shareholders with more information and giving them the power to hold companies to account."