Banker bonuses are on the rise again. NatWest, HSBC, Lloyds and Barclays have in the past fortnight reported shelling out millions of pounds to bosses and assorted directors as a reward for their exceptional efforts. Almost £20m was doled out between the four chief executives.
A glance at the FTSE 100 shows that all chief executives seem to believe they are exceptional: the data shows their pay and bonus packages averaging a whopping £3.4m each, or 103 times the £33,000 average salary for full-time UK workers.
There are, by definition, 100 of them in an economy of 67.33 million people.
Sounds pretty exceptional to me.
If they became one of the hundred-or-so because of their brilliant financial acumen, fine… If, as I suspect is more likely, they became one by being a member of an “in group”, not so fine.
What’s the their marginal rate of income tax an employer’s NI on this compare to say corporation tax, if they hadn’t been paid and so the companies had posted increased profits.
Also, why is the UK average income relevant?
They didn’t become one of the hundred because they are average. That’s for sure….
I see why companies stay private as average people don’t get to comment on private CEO pay
I took a look at Premier League footballers for comparison. On average they get paid twice what the FTSE 100 CEOs do, and there are more than 500 of them, yet the Grauniad never mentions them. Capitalism Bad!
It’s a sad come down for the author who was brilliant in. ‘are you being Served’ – a casualty of cancel culture. From great comedy to spouting inane Left wing bollocks. A sad end. Maybe PJF can put in a word with the CIA and get him to write pieces advocating escalation?
《as a reward for their exceptional efforts.》
Rate arbitrage, anyone?
《as a reward for their exceptional efforts.》
Did my previous post just get banned?
The Guardian makes a loss, yet their CEO is handsomely paid for doing so.