BBC story: http://www.bbc.co.uk/news/business-24983178
Whether the economy is doing well or badly, one of the things you can be sure of in the UK is that directors will be enjoying pay rises (or more accurately rises in their renumeration packages) well above the rate of inflation. During the recession they were criticised for rewarding themselves with increases in their basic pay. "Stung" by this they've shifted to results based rewards which unsurprisingly has worked in their favour now that things are picking up.
I don't blame the directors, after all who would turn down more money for the same work. Instead I blame the renumeration committees for waving through large increases for their friends and the shareholders who don't mind that many of these highly rewarded executives are just administrators (rather than being entrepreneurs or innovators - I have no problem with rewarding these well).
Yet another slap in the face for the vast majority of employees who have seen their wages drop in real terms over the last 5-6 years.
Whether the economy is doing well or badly, one of the things you can be sure of in the UK is that directors will be enjoying pay rises (or more accurately rises in their renumeration packages) well above the rate of inflation. During the recession they were criticised for rewarding themselves with increases in their basic pay. "Stung" by this they've shifted to results based rewards which unsurprisingly has worked in their favour now that things are picking up.
I don't blame the directors, after all who would turn down more money for the same work. Instead I blame the renumeration committees for waving through large increases for their friends and the shareholders who don't mind that many of these highly rewarded executives are just administrators (rather than being entrepreneurs or innovators - I have no problem with rewarding these well).
Yet another slap in the face for the vast majority of employees who have seen their wages drop in real terms over the last 5-6 years.
via JREF Forum http://forums.randi.org/showthread.php?t=268766&goto=newpost
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