Socialist Worker

Filthy rich bosses grab 10 percent pay rises

Issue No. 2516

Socialist Workers front page slams the gold swindlers

Socialist Worker's front page slams the gold swindlers

Britain’s richest corporate bosses got pay rises of 10 percent on average last year.

The ten highest-paid bosses grabbed £200 million between them, according to the High Pay Centre.

Their average annual salary is now £5.5 million—compared to £5 million in 2014.

According to the data chief executives were paid 140 times workers’ average wages in 2015, a small decline on the previous year when they were paid 148 times.

The jump in average pay last year was driven by especially large increases for a small number of chief executives. The median pay package rose more modestly to £3.97 million, a £100,000 increase on 2014.

Sir Martin Sorrell, the founder of advertising agency WPP, was paid £70 million by the advertising group last year compared to £43 million in 2014. BP chief executive Bob Dudley’s pay increased by a fifth to £13.3 million.

For the average worker, wages rose by 2 percent in 2015, according to the Office for National Statistics.

Top ten fat cats

  1. Sir Martin Sorrell, WPP, £70.416 million
  2. Tony Pidgley, Berkeley Group, £23.296 million
  3. Rakesh Kapoor, Reckitt Benckiser, £23.190 million
  4. Jeremy Darroch, Sky, £16.889 million
  5. Flemming Ørnskov, Shire, £14.638 million
  6. Bob Dudley, BP, £13.296 million
  7. Erik Engstrom, Relx, £10.869 million
  8. Mike Wells, Prudential Financial, £10.031 million
  9. Michael Dobson/Peter Harrison, Schroders, £8.905 million
  10. Antonio Horta Osorio, Lloyds Group, £8.773 million

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