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British CEOs earn almost 100 times more a year than average workers
https://www.whatjobs.com/news/business-news/british-ceos-earn-almost-100-times-more-per-year-than-the-average-person
By Hugh Fort in Business News, posted February 12, 2022
The CEOs of British businesses earn 86 times more than the average man or woman.
The Charity Equality Trust reported in the last week a vast amount of corporation leaders would have made more money than most people would in a year.
Research done by the High Pay Centre found the median yearly pay for CEOs last year worked out to be a staggering £3.6 million which is roughly £941 of their 12 hour days.
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The trust argues the immense gap between bosses and their staff is creating an unhealthy level of inequality across the UK.
It has been estimated that CEOs would only have to work 33 hours this year to exceed the average salary in the UK ( £31,146).
As you can imagine this created a problem due to the fact some people in the UK have to work extremely hard hours on a day to day basis to meet this salary.
The director of High Pay Centre, Luke Hildyard, said “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.”
Due to such a vast pay packet, it’s likely that concerns will arise over whether leading companies are distributing pay fairly.
The executive director of The Equality Trust, Dr Wanda Wyporska, said “This huge gap between the pay packets of bosses and their employees is not just highly unfair, but contributes to the damagingly high level of inequality we see in the UK”.
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