Exec pay vs average pay growth over 30 years.
The commission shows that the former chief executive of Barclays John Varley earned £4,365,636 last year – 169 times more than the average UK worker – an increase of a 4,899.4% since 1980, when the top pay in Barclays was just 13 times the average. The pay of the chief executive at now state-owned Lloyds Bank has increased by 3,141.6% to £2,572,000 over the same period – 75 times the average Lloyds employee. In 1980 it was just 13.6 times that of the average Lloyds worker.An example of something to worth protesting about.
Average wages in the UK today are £25,900 - up from £6,474 in 1980.
The report says: "Stratospheric increases in pay are damaging the economy – distorting markets, draining talent from key sectors and rewarding failure. There appears to be little truth in the myth that pay must escalate to halt a talent drain in executives."