FTSE 100 bosses’ bonuses rose 187 per cent since 2002: study
05 Sep 2011
Chiefs of FTSE 100 companies took home bonuses that were fatter by 187 per cent since 2002, without a corresponding rise in share prices, according to new research.
According to the High Pay Commission average annual bonuses were 48 per cent of salary in 2002, but now stood at 90 per cent.
Commission chairman Deborah Hargreaves said the refrain that big bonuses meant companies had performed better was a ''myth.''
Bosses saw their salaries rise by 63 per cent, during the time, the report said. Full findings of the report would be published in November.
The commission draws support from the left-leaning Compass group and the Joseph Rowntree Trust.
Further the study found that total pay packages for company executives in the wider FTSE 350 had risen by 700 per cent since 2002 as against a 21 per cent rise in the index.
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