KEY POINTS:
The bonanza in British boardroom pay has become even more spectacular, the latest figures from accountancy firm KPMG show.
The typical chief executive of a FTSE 100 company has seen their total remuneration rise by 12 per cent in the past year, to be more than £2.6 million ($7 million).
That's four times the rate of the increase in average earnings, leaving the business elite on pay over 100 times what most employees earn.
The chief executive of one of the smaller FTSE 250 companies would expect to see a total package of just over £1 million, up from £878,000 in 2006.
Britain's top corporate earner is probably still Bob Diamond, of Barclays Capital, who took home £22.9 million last year, including a performance bonus of £10.4 million.
Others in that bracket include Bart Becht, chief executive of Reckitt Benckiser, on £22 million; Giles Thorley, head of Punch Taverns, on £11 million; and Lord Browne, late of BP, similarly well-looked after. Thorley's package is equivalent to 1147 members of his staff's pay.
Taken together, the directors of FTSE 100 companies collectively earned £515 million last year - exceeding the GDP of the likes of Eritrea and the Seychelles.
The figures pre-date the credit crunch, which may have a moderately depressing effect on top people's pay.
- Independent
