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UK CEOs' mean pay falls to $3.9m but still eclipses average workers'
Patrick Rhys Atack
Europe;

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Pascal Soriot, the boss of Anglo-French pharmaceutical firm AstraZeneca was the UK's best paid CEO. /Reuters/Luke MacGregor

Pascal Soriot, the boss of Anglo-French pharmaceutical firm AstraZeneca was the UK's best paid CEO. /Reuters/Luke MacGregor

 

UK business leaders earned an average of $3.9 million in 2020 – and despite that being a drop from $4.3 million the year before, CEOs still earn 86 times more than the average UK worker. By comparison, the average yearly wage in the UK is $43,031. 

An annual report from The High Pay Centre reported on the income of the 100 leaders of FTSE 100 companies. It also tallies the extra remuneration such as bonuses, which it said also dropped in 2020. 

Of the firms on London's top index, 64 percent paid end-of-year extras, but that's more than 20 percent fewer than 2019.

 

 

While the pandemic has bolstered profits of some more unexpected firms, it's less of a surprise to hear AstraZeneca's CEO received the highest pay packet last year. 

Pascal Soriot took home $21.1 million. It would take the average UK worker 489 years to earn that amount. It would even take AstraZeneca's median-rate employees 197 years to earn it. 

Last year, the median ratio for FTSE 100 CEOs' pay compared with employees' in the 25th percentile was 80:1. That means the lowest-paid workers earn 80 times less than the boss. 

Ocado, a grocery delivery service, had the biggest gap between the CEO's salary and the median salary of its employees, with a ratio of 312:1.

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