British firms bosses get 8-fold rises vs. staff <\/p>\n
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New findings show company directors in Britain gave themselves scandalous bonus hikes last year while handing workers tiny pay rises of average two percent.\n<\/p>\n
A study by pay research firm Incomes Data Services (IDS) shows senior directors awarded themselves average pay rises of 17.8 percent with the increase giving them total bonus packages of up to 37.8 percent of their salary.\n<\/p>\n
While the directors got official average pay rises of two percent, their bonuses soared from 21.4 percent of salary to 30 percent of salary, raising their total earnings by more than eight-fold compared to their staff.\n<\/p>\n
The figures confirm unions\u00e2\u201e\u00a2 concerns that company bosses are creating a wide gap between \u00c5\u201cthem and us\u201d in terms of payments by indulging spikes in bonuses.\n<\/p>\n
“Salary rises for management have been subdued, but bonuses, which make up an important element of total pay for senior executives and board members, have shown some increases,\u201d Adam Cohen, author of the IDS research said.\n<\/p>\n
“Among companies enjoying improved trading conditions this year, we have witnessed some paying out significantly higher bonuses to top bosses. However, this has certainly not been the case across all organizations,” he added.\n<\/p>\n
AMR\/HE<\/p>\n<\/div>\n
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