The pay of UK chief executives has risen faster than their American rivals as British firms close a remuneration gap.
Research shows FTSE 100 bosses have bagged an 11 per cent pay rise so far this year on average, compared with 7.5 per cent in the US.
But US bosses still get more. UK chiefs earn around £4.9million compared to £12million in the US, analysis by ISS-Corporate showed.
Britain’s biggest firms are under pressure to pay more to avoid losing top talent to the US. Shareholders at NatWest this week backed a deal for chief executive Paul Thwaite, which could be worth £7.8m a year compared with £4.9million in 2024.
But at Standard Chartered, the bank’s shareholders have been advised to oppose a 57 per cent raise for chief executive Bill Winters, who could earn £13.1million, up from £10.7million last year. It comes after the Government scrapped EU rules capping banker bonuses.
Drugmaker GSK has proposed hiking boss Emma Walmsley’s potential payout to £21.6million a year – up from £10.6million. And British American Tobacco chief Tadeu Marroco’s rise could lift him from £6million to £18.2million in 2025.
Pay rises: Research shows FTSE 100 bosses have bagged an 11% pay rise so far this year on average, compared with 7.5% in the US
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