Britain’s top executives are paid more money in three working days than the typical employee earns in an entire year, according to a new independent analysis.
The CEOs of FTSE 100 companies are paid a median average of 3.45 million pounds ($4.7 million) a year, which is 120 times more than the annual wage of an average full-time worker.
The analysis was made by the Chartered Institute of Personnel and Development (CIPD), a professional association for human resource management, and the High Pay Center (HPC), a UK think tank.
The day has been declared “Fat Cat Thursday” by CIPD and HPC, which based their analysis on 2016 figures.
The analysis shows chief executives of FTSE 100 companies are paid 256 times more per hour than what workers earn on the minimum wage. On an hourly basis, the bosses will have earned more in less than three working days than the average employee will pick up this year.
Frances O’Grady, the general secretary of…