Deloitte says the average bonus for FTSE 100 executive directors is 100% of their basic salary Executive bonuses are close to their level before the financial crisis, a survey by business advisory firm Deloitte says.
It found that the average bonuses for directors of FTSE 100 firms amounted to 100% of their basic salary – 140% in the top 30 public companies.
However, Deloitte said the days of fast increases in executive salaries were over for the present.
And in mid-sized FTSE 250 firms, one in seven paid no bosses’ bonus last year.
The survey found that more than 50% of top companies will not increase the pay of executive directors in 2010 – which will be the second year in which many executives have had their wages frozen.
Any pay increases this year were likely to be around 3%, it said.
Stephen Cahill, of Deloitte, said: “Last year we saw a very large number of companies freezing executive salaries, but at the time it was difficult to predict whether this was a one-off.
“Now it appears that the years of executive salaries increasing at rates far in excess of inflation and the increase in average earnings are, at least for the moment, well and truly over.
“Companies are now recognising that increases for executives must be considered fair and reasonable in the context of current business circumstances and the pay and conditions for employees more generally.”
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