You are here: Home - Investing - Experienced Investor - News -

Top FTSE 100 boss earned £47m last year

Written by: Paloma Kubiak
The 10 highest earning FTSE 100 CEOs received a combined £200m in their pay packets last year.

CEO median pay rose by 11% between 2016 and 2017, taking average salaries to £3.93m, up from the £3.53m reported in the previous year.

According to the report from the High Pay Centre and Chartered Institute of Personnel and Development, the highest paid CEO in the financial year ending 2017 was Jeff Fairburn of housebuilder Persimmon who received £47.1m. This is 22 times his 2016 pay.

In close second was Simon Peckham of industrial engineering firm Melrose Industries, who pocketed £42.7m last year. This figure is 43 times his previous year’s figure. Rob Perrins of housebuilder Berkeley Group came third after gaining £27.9m in 2017, up from the £10.9m reported in 2016.

The below also make it into the top 10 highest paid CEOs last year:

  • Jeremy Darroch of Sky – £16.3m, up from £4.6m in 2016
  • Martin Sorrell of WPP – £13.9m, down from £48m in 2016
  • Coca-Cola’s joint CEOs pay increased five-fold to £13.8m, with the majority going to Dimitris Lois who died during the financial year
  • Rakesh Kapoor of Reckitt Benckiser – £12.4m, down from £15.2m in 2016
  • Intertek’s Andre Lacroix’s pay packet more than doubled from £5.5m to £11.6m
  • Nicandro Durante of British American Tobacco – £11.4m, up from £8.3m in 2016
  • Bob Dudley of BP – £10.4m, up from £8.6m in 2016.

The strong performance of the stock market in the years to 2017 are likely to have been a factor in this year’s increase, according to the report. In total, the income received by CEOs working for FTSE 100 firms stood at £560.1m, with a mean annual package worth £5.7m a year.

In comparison, mean salaries for all workers in the UK have gone up by 2.5% to £29,009, which would equate to a total of 195 years to earn the mean FTSE 100 boss’ package.

TUC general Secretary, Frances O’Grady, said: “Pay for most people is barely rising at all. So working people will find it hard to understand why fat cat executives are splashing the cash for themselves.

“Workers should get seats on boardroom pay committees to bring a bit of common sense to pay decisions. And the government should put the minimum wage up to £10 an hour to give more workers a fairer share of the wealth they create.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week