Monday, September 05, 2011

Bosses' bonuses up by 187% since 2002

Average bonuses for directors of FTSE 100 companies have risen by 187% since 2002, without a corresponding rise in share prices, new research suggests.

The High Pay Commission said on Monday that average annual bonuses were worth 48% of salary in 2002, but are now 90%.

Commission chairman Deborah Hargreaves said it was a "myth" that big bonuses meant companies performed better.

The Department for Business, Innovation and Skills said it would study the report, which it called "interesting".

During the time bosses' salaries rose by 63%, said the report, which is due to publish its full findings in November. The commission is backed by the left-leaning Compass group and the Joseph Rowntree Trust. More...

Don't miss:
  1. While they come for our pensions – bank bonuses are back with a bang... 
  2. Salaries for top executives are rocketing 'out of control' 
  3. Furious Dutch threaten bank run and put a stop to bankers' bonuses...
  4. CEO salaries jump a whopping 27% while workers get peanuts...
  5. Barclays gives £10m pay and bonus deals to two bankers!
  6. Crisis? What crisis? There's no crisis for the world's billionaires...
  7. Mandelson is still being paid £8,000-a-month by EU two years after quitting Brussels.. 
  8. Goldman Sachs pay out $111million in bonuses despite taking billions in bailout money.. 

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