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UK chief executive pay up to an average of £3 million

Average chief executive pay increased by 8.7% to £3 million according to data from the Income Data Services (IDS).

espite the rise, the rate of increase has slowed in comparison to the hike of 49%last year.

The survey also shows that 67% of bosses believe investors should have greater involvement in establishing remuneration policy.

The IDS report shows that UK top executive pay is rising at more than five times the rate of the average employee. The average increase for workers in the UK saw an increase of 1.6% in pay, less than half the rate of inflation.

Business secretary Vince Cable intends to cap generous pay deals, prevent rewards for failure and simplify remuneration schemes.

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