\'Fat Cat Thursday\': Top Bosses Earn Workers\' Annual Salary By Lunchtime
Britain’s top bosses made more money by lunchtime on Thursday than the average worker will earn in a year.
New figures show that chief executives of FTSE 100 companies are paid a median average of £3.45m a year – that’s about 120 times the £28,758 picked up by full-time UK workers.
“Fat Cat Thursday” was dubbed obscene by unions, while Stefan Stern, director of the High Pay Centre, which collated the figures, said the salaries showed there were “grossly excessive and unjustifiable gaps” between those at the top and the rest of the British workforce.
The analysis of 2016 salaries by the Chartered Institute of Personnel and Development (CIPD) and the High Pay Centre shows bosses of FTSE 100 companies are paid an average of £898 per hour – 256 times what apprentices earn on the minimum wage.