Fat Cat Tuesday: Bosses Earn More

The High Pay Centre highlights how ‘unbalanced’ and ‘unfair’ the pay gap is across the UK. The Workers of England Union will continue to fight on your behalf, urging top earners to reduce their salaries.

Ponder this: By mid-afternoon today, these FTSE 100 bosses will have earned more than the average UK worker does in an entire year. We need Trade Unions to fight this injustice. If you believe this is wrong while we face austerity, ask your colleagues to join a union that truly cares – a force “Together We Win”.

FTSE 100 Bosses Already Top Average Annual UK Wages in 2016

Chief executives of companies on the London Stock Exchange FTSE 100 index will surpass the UK average annual salary of £27,645 by late Tuesday afternoon, according to the High Pay Centre. This group monitors top-tier pay scales in Britain and reports that executive pay continues to fuel distrust in business.

In 2014, FTSE 100 CEOs earned an average of £4.96 million. Even assuming they work long hours with minimal holidays, this equates to an hourly wage of over £1,200.

Despite government measures—like a binding shareholder veto on executive pay and increased transparency—questions remain about the effectiveness of these attempts to curb top salaries.

Calls for Further Action

The High Pay Centre urges:

• Worker representation on company remuneration committees
• Publication of the pay gap between the highest and median earner within firms

Seema Malhotra, junior finance spokeswoman for the opposition Labour Party, called the widening pay gap “shocking” and warned of its impact on social cohesion.

Frances O’Grady, general secretary of the Trades Union Congress, stated: “Every worker deserves a fair share of the wealth they help create. The government must make the right choices to deliver a fair economy with fair pay, such as giving workers more collective bargaining rights.”

Fat Cats Leaflet

Together We Win

Read more about executive pay and inequality on our ETUC page.