The chief executive officers of Britain’s biggest companies saw an above-inflation pay boost last year but still earned less than before the pandemic, according to a report published Tuesday.
Median pay for FTSE 100 CEOs increased 16% to £3.91 million ($5 million) from the previous year, research by the High Pay Centre think tank showed. That’s still £70,000 short of pay packages seen in 2017.
The analysis comes amid a cost-of-living crisis that’s prompted staff in many sectors to go on strike. The HPC said that CEOs earned 118 times as much as the average worker last year.
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