Even the directors are suffering!
News that directors pay rises are falling would probably have induced some sympathy in the past but when it is revealed that the rate has fallen from 7% a year to 'just' 6.2% a year, i.e. well above inflation, then sympathy is very much thin on the floor. However, this is the situation which some of the UK's top directors find themselves in while those on the 'factor floor' are struggling to agree pay deals at the level of inflation!
While the breakdown does differ slightly from sector to sector it shows that those at the top of the employment tree seem to suffer less than those at the base of the tree. Many will argue that they take on the pressure of making big decisions there is no doubt that many are already handsomely rewarded to start with. Quite how many of these directors can justify inflation busting increases in the current climate remains very much to be seen.
The privatised sectors of the UK seem to be some of the worst with Water and Electricity companies often accused of agreeing excessive rewards for their top directors. Then again, when we have our own MPs trying to push through massive rises for themselves as well as replacing controversial perks with daily allowances, can we really blame these top directors?
Share this..
Related stories
Barclays Bank raises £7 billion from Middle East investors
News that Barclays Bank has raised £7 billion from the Royal families of Abu Dhabi and Qatar has met with howls of criticism in the UK. The move has been slaughtered simply because Barclays Bank chose to raise capital in the Middle East with no restrictions rather than the government's bailout which has been on offer for some time.
By accessing the UK government rescue fund this wo...
Unemployment in UK set to soar
Yet more data from the office of National statistics has highlighted the ongoing fall in employment numbers and the number of people claiming benefits. The employment figures show that for the three months to October 2008 the rate was down 0.4 to 74.2% of the work age population of the UK which is a figure only beaten back in 2000 when the rate was 74.1%. The actual number of people in employment...
Read MoreMortgages rates down and house prices up!
In a rather bizarre turnaround the announcement that the vast majority of UK mortgage providers will pass on the 0.5% reduction in base rates was followed by news that house prices rose by 1.9% during January. While there is some suspicion of the 1.9% rise in house prices there is no doubt that mortgage rates are falling although whether the better rates are available to the masses remains to be s...
Read MoreBudget Headlines : UK Economy to fall by 3.5% during 2009
UK Economy to fall by 3.5% during 2009...
Read MoreStamp Duty changes save buyers £4,500
07/12/2015 Anyone who has bought a house or flat in the past 12 months has saved an average of £4,500 thanks to the Stamp Duty changes introduced by Chancellor George Osborne. Stamp Duty, a tax that is paid on every property bought over a certain price, was reformed last December. Research from Halifax has shown that the changes helped many people make large savings, but dampened demand at...
Read More