Employee Rewards and Benefits News
Chief execs still getting 'big bonuses'
Chief executives of some of the UK's biggest firms are still receiving significant employee reward despite the economic downturn, research shows.
Figures from Incomes Data Services (IDS) indicate that bosses are receiving bonuses of more than £500,000 in many cases.
However, the data does show that payouts have fallen by nearly a third (29 per cent) over the last year.
Editor of the IDS report Steve Tatton said: "In previous downturns growth in bonuses slowed, but for bonuses to shrink ... is highly unusual.
"This recession is posing difficult questions about how directors should be remunerated."
Average salaries among chief executives rose by 7.4 per cent, while bonuses fell from an average of £707,000 in 2007/08 to just £502,000 in 2008/09.
Earlier this week, Brendan Barber of the Trades Union Congress warned that the private sector needs to do more to promote equal opportunities through recruitment and pay.
By Michael Ewing
