CEO pay at the UK’s biggest companies falls by 13%

CEOs of FTSE 100 companies have seen their salary drop by 13% year-on-year to an average of £3.4m in 2018.

Just under half (43) of chief executives at FTSE 100 companies saw their pay increase last year, according to figures from the High Pay Centre and Chartered Institute of Personnel and Development (CIPD).

In total, CEOs of companies in the FTSE 100 received £465.4m in the financial year ending 2018, with an average salary of £4.7m across 99 chief executives.

While women make up 6% of the FTSE 100 CEOs, they earn just 4.2% of the total pay, a small improvement on 3.5% reported last year.

Marks & Spencer chief executive Steve Rowe and Next boss Simon Wolfson both took pay cuts last year – down by 37% and 32% respectively.

The average pay for CEOs is still 144 times higher than the average UK worker, which is currently at £24,000.

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