United Kingdom: with the pandemic, the salaries of big bosses down in 2020
In the United Kingdom, the pandemic has reduced the salaries of big bosses in 2020. Some groups have either reduced the amount of bonuses or they have paid nothing at all to their leaders.
AFP
Text by: RFI Follow
2 min
The pandemic has reduced the salaries of big British bosses in 2020. This is what the High Pay Center research center revealed on Thursday, August 19.
Despite this drop, their salaries are still counted in millions of euros.
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A managing director of a company in the flagship index of the London Stock Exchange earned an average of 2.66 million pounds in 2020. This is a decrease of 17% from 2019. Despite the decline, the gap with the annual income of a British worker is still very important, since the remuneration of a boss is 86 times that of an average salary.
This drop in the wages of big bosses is explained by the fact that some groups have either reduced the amount of bonuses, or they have paid nothing at all to their leaders.
Massive government support for the economy
The highest paid boss is French: Pascal Soriot, CEO of the pharmaceutical group AstraZeneca, one of the companies that has developed a vaccine against
Covid-19
.
He touched just over £ 15million last year.
According to the director of the British research center, the salaries paid to big bosses are still very generous.
They owe the survival and success of their businesses to massive government support for the economy, not to their leadership performance.
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To read: Brexit: finance companies are leaving London for Dublin
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