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In the United Kingdom, the income of large entrepreneurs rises twice as fast as inflation

In the United Kingdom, the income of large entrepreneurs rises twice as fast as inflation

The chiefs income of the older british companies They increased this year twice as fast as inflation, according to a study by the PwC cabinet, fueling criticism in the midst of the cost of living crisis.

In a context of inflation of more than 10% in the United Kingdom, these sums could be “distributed more equitably,” said Luke Hildyard, director of the High Pay Center think tank, on Tuesday. The rise in this income is largely due to the increase in rewards after “the reopening of companies and the return of demand after the pandemic,” underlines Andrew Page, executive compensation specialist at PwC.

The average income of the directors of the FTSE 100, which brings together the 100 highest valuations on the London Stock Exchange, rose from 3.2 million pounds to 3.9 million pounds (4.5 million euros, +22%) in the financial year 2021-2022. The remuneration of top managers had fallen during the pandemic, after reductions in salaries and rewards, voluntary or under pressure from shareholders or investors. However, it has since risen sharply again and is at pre-pandemic levels.

“Over the last decade, investors have started to be more stringent when it comes to executive pay” and FTSE 100 companies rarely pay their executive directors beyond “three to four million pounds” a year, says Hildyard. However “it equivalent to paying them more than 100 times the salary of an average British worker“.

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