Tips and advice on how to be wealthier…
Company directors have come under fire for ‘fat cat′ salaries in recent years. According to a recent report by the Incomes Data Services the average total earnings of the FTSE 100 chief executives have doubled over the last five years to a new record of £3.2m.
The Director’s Pay Report also revealed that the earnings of FTSE mid-250 chief executives have gone up by more than 90% since 2001/02 to £1.4m.
Public sector workers, who had seen average salaries rise at a faster pace than for those in the private sector earlier in the decade, last year received the lowest pay settlements since 1994, according to research company Industrial Relations Services.
The IRS said pay deals in the public sector were worth 2.5% in the 12 months to the end of November 2007 while private sector pay settlements were 3.5%.
• The current national minimum wage entitles adult employees to earn £5.52 an hour. So, theoretically anyone working full time, 40 hours per week, should expect to earn no less than £11,481 a year.