Senior executives earn the annual salary of a worker in the United Kingdom in three days

The top managers of the companies listed on the FTSE-100 stock market index will have earned more in the first three working days of 2024 than an average worker in a year in the United Kingdomaccording to data released this Thursday by the High Pay Center think tank.

According to the organization, which analyzes the causes of inequality, the median expected income for 2024 of the CEOs of the first hundred companies on the London Stock Exchange exceeded that of the annual salary of a worker at 13 GMT today. .

High Pay Center bases its calculation on the figures provided in their annual reports by companies in the FTSE-100as well as in government statistics on salary levels.

According to this data, the median salary for this year for top managers (excluding pensions) is about 3.81 million pounds (US$ 4.83 million), 109 times that of a full-time worker, of 34,963 pounds (US$ 40.34 ).

CEO earnings have increased 9.5% compared to the median in March 2023, while workers’ earnings have increased 6%, the organization says.

High Pay Center also reveals that other lower-ranking executives in those companies, with a median salary of 1.32 million pounds (US$1.68 million), “They will have to work until January 10” so that their salary exceeds that of an average worker in this country.

In response to these data, the general secretary of the TUC trade union confederation, Paul Nowak, declared that the conservative government “enables obscene levels of inequality.”

“While workers have suffered the longest pay squeeze in modern history, City managers have been allowed to pocket bumper rises and bankers have been given unlimited bonuses,” he claimed.

Nowak noted that FTSE-100 executive remuneration rose by around 16% last year, while, according to the latest official forecasts, the salaries of workers British will not recover their 2008 value in real terms until at least 2028.