Top executives’ pay fell during Covid crisis, but don’t expect it to stay down for long | Nils Pratley
Pay committees read popular mood correctly during pandemic but how they behave on way back up will be revealing
Amazing: the average pay for the club of FTSE 100 chief executives did what it is supposed to do in tougher times. It fell. The median pay packet was £2.69m in 2020, down from £3.25m the year before, calculates the High Pay Centre. In fact last year’s average was the lowest since 2009. At the peaks in 2013 and 2017, the figure went as high as £3.97m.
It would be churlish not to acknowledge the fall, while also stating that, at 86 times the median earnings of a full-time UK worker, the average Footsie boss probably did not have to adjust his or her lifestyle.
