Elite group: An employee walks past FTSE 100 share price information displayed on an illuminated rotating cube in the atrium of the LSE’s offices in London. — Bloomberg
LONDON: The chief executive officers (CEOs) of Britain’s biggest companies received record compensation last year but the slowing pace of increases saw the pay gap with the United States widen.
Median pay for FTSE 100 CEOs edged up 2% to £4.19mil (US$5.35mil) from the previous year, research by the High Pay Centre think tank showed.
That’s behind the 21% rise seen the year before and also lags the increases received by heads of large US companies, according to a separate study.
It follows calls for UK executives to receive higher compensation to compete with levels seen in the United States.
Last year, London Stock Exchange CEO Julia Hoggett said restrictions on executive pay were hindering companies’ efforts to attract top talent, as well as undermining the attractiveness of the City of London post-Brexit.
The 2% rise for UK CEOs compares with a 12.5% annual increase in median CEO pay for S&P 500 companies with proxy filings in 2024, according to data provider ISS-Corporate, a division of Institutional Shareholder Services. — Bloomberg
