(Finance) – In the United Kingdom the gap salary among the top managers of the major companies listed companieswho enjoyed 16% pay hikes last year, and ei employees grappling with the worst cost-of-living crisis in a generation. In fact, according to a study by the independent think tank High Pay Centre, a CEO of a company in the FTSE 100 index was paid an average of 118 times more than a full-time worker in 2022, compared to 108 times in 2021.
The highest salary is that of Pascal Soriotchief executive of pharmaceutical giant AstraZeneca, with £16.85m, followed by Charles Woodburn by armaments giant BAE Systems, which earned £10.69 million. Also according to the research, the pay average for a FTSE 100 ‘CEO’ has increased from £3.38m in 2021 to £3.91m in 2022. While salaries of workers have been greatly eroded by the high cost of living.
The unions commented on the results, stressing that Britain has become “a land of grotesque extremes”. “While millions of families have seen their balance sheets devastated by the cost-of-living crisis, top executives have enjoyed dramatic pay rises,” he said. Paul Nowaksecretary general of TUC, the largest trade union coordination organization in the United Kingdom.
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