Britain’s top CEO salaries back to pre-pandemic levels

Britain’s pinnacle CEO salaries are lower back to pre-pandemic levels, with a median of £3.62 million ($4.58 million) for the bosses of the largest companies at the London Stock Exchange, in line with a have a look at.

That figure represents the median FTSE-a hundred CEO package deal for 2021, in accordance with research provided by the accountancy firm Deloitte on Monday.

It is still below the 2017 peak of £4.04 million, said Deloitte.

In 2020, at the height of the Covid pandemic, the median pay for FTSE-100 executives fell for the fourth year in a row to £2.78 million following reduced or canceled bonuses, voluntary pay cuts, and in some cases protests from investors.

The FTSE-100 was up 14 percent in 2021 and the rebound in CEO pay is largely due to the return of bonuses, Deloitte noted.

“UK listed companies are subject to the highest remuneration governance standards globally, and the UK has not followed countries like the US in terms of executive pay inflation in recent years,” said Deloitte Vice Chairman Stephan Cahill.

The report also pointed out that the 2022 annual general meeting season had seen a higher level of votes in favor of proposed salaries compared to last year, reflecting less opposition from investors.

But Cahill added that with “the growing cost of residing and the uncertain geopolitical environment”, such help might wane this yr.

Shareholders, he said, might be scrutinizing organization performance greater intently earlier than approving generous pay programs.

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