The UK’s top business managing directors saw a 50% increase in pay on average last year, according to research from Incomes Data Services (IDS).
The average salary, including benefits and bonuses, for a director of a FTSE 100 company was £2.7 million. The rise was larger than the 43% increase in pay seen by chief executives.
Base salaries rose by 3.2% and directors’ bonus payments rose by 23% to £906,000 on average.
The IDS said the generosity of executive pay was “evenly spread across the board” and that bonuses and share based payouts had recovered strongly.
The Unite union said director pay is at “obscene” levels and has asked for shareholders to be given more powers to “question and curb excessive remuneration packages”.