Pay | Google staff earn more than 7 TIMES UK average salary

Google staff earn more than 7 TIMES UK average salary

The Telegraph reported that Google paid UK employees an average of £226,000 in 2018 on the back of impressive share pay-outs that came as a result of booming stock prices.

According to ONS figures which were published last month, the average combined salary in the UK for men and women was £29,009. This meant that Google employees earnt more than seven times (7.7) the average UK salary in 2018.

The internet behemoth paid its 3,658 employees almost £390million in salaries at the same time that the UK headcount grew by around 400.

The increased wage bill was a 26% increase on the £656million paid to staff in 2017, The Guardian reported.

And, according to the company’s financial records, Google’s swelling financial performance in 2018 was 56% more than the £219million money pot at the end of the previous year.

Reports have shown that the salary bills were split between 1,451 marketing staff, 1,783 for research and development employees and 424 towards employees working in management and administrative roles. The publication reported that this figure is up from an average pay packet of £200,000 in 2017.

This seems like a shocking disparity between the average annual salaries of average UK Google employees and the average UK salaries. The ONS data found that, unsurprisingly, senior managers, directors and officials scooped the highest salaries with an average annual salary of £58,000 highlighting the sheer disparity.

The research revealed care and leisure as some of the lowest paid UK industries, with an average annual salary of £19,000.

But more often than not, firms storm the headlines for overpaying corporate leaders rather than raising employee wages.

Fat Cat Friday

Earlier this year, The Guardian reported on Fat Cat Friday. Each year on 4 January the earnings of a typical FTSE 100 company CEO surpasses the average annual UK salary.

The landmark date is intended to draw attention to the hefty inconsistency in British wages between corporate leaders and their staff just three days into the new calendar year.

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The Independent reported that this figure is calculated on the assumption that corporate leaders are on a rate of £821.50 per hour, which would equate to an annual salary of £3.9million.

So, they would only be required to work three full days, or 29 hours in order to match the annual salary of a full-time British worker at £29,574.

Ludicrous CEO pay

HR Grapevine previously reported on Shell’s CEO who came under fire after his pay more than doubled to £17million – equating to 143 times the UK average.

The BBC reported that Ben van Beurden’s total salary in 2017 was around £7.7million and the news of this ludicrous figure prompted shareholder revolt.

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Luke Hildyard, Director of the High Pay Centre think tank, told the BBC that Beurden’s pay packet exemplified Shell’s “flawed governance model and warped corporate model”.

"They think that prosperity is bestowed by a small elite at the top, and everyone else should be thankful for what little they get,” he said. “In fact, business success is a much more collective endeavour, and should be reflected in more equal, proportionate pay practices."



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