The average salary for chief executives dropped 13% last year, according to a new report, but they still earn 117 times more than the average UK full-time employee.
Those running the UK’s largest listed 100 companies are paid an average of £3.5 million a year, the CIPD, the professional body for human resources, found.
In contrast, full-time workers in the UK earn an average of £29,574.
The top 100 companies in the UK include easyJet, which, according to the comparison website Merchant Machine makes an average revenue of £439,739 per employee, and TUI, which makes an average of £396,787 for each staff member.
The report also showed a continued wide gender gap at the top of big firms.
In 2018, only six of the FTSE 100 companies had a female boss, down from seven in 2017.
The CIPD and High Pay Centre made a number of recommendations:
o Pay for the top 1% of earners should be disclosed
o Consider wider workforce reward practices, and understanding of organisational culture, fairness and investment in people
o Link chief executive pay to both financial and non-financial measures of performance
o Simplify chief executive reward packages and ensure they are linked to fewer and more meaningful measures of performance.
