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New research from the think tank High Pay Centre has suggested that the average FSTE 100 CEO’s earnings for this year will surpass that of the median annual wage of the average worker within the UK by 5.30pm today (January 6, 2021).
This means that, for the rest of the year, employees will be working to achieve the same financial compensation that these leaders make in just three working days.
The calculations that discovered this shocking disparity in pay between FTSE 100 CEOs and their workers are based on previous analysis of pay disclosures made by CEOs, combined with statistics released by the UK Government showing pay levels across the economy.
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"Pay for top CEOs today is about 120 times that of the typical UK worker. Estimates suggest it was around 50 times at the turn of the millennium or 20 times in the early 1980s,” noted Luke Hildyard, Director at the High Pay Centre.
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