Record salaries for UK chief executives as pay rises for third year in a row

Report finds more than £1bn handed out to just 217 FTSE 100 bosses in the last financial year

The bosses of Britain’s largest listed companies took home record high pay packets for the third successive year, according to a report.

Analysis found that the record set in the last financial year means the average FTSE 100 chief executive is now paid 122 times the salary of the average full-time UK worker.

Executive pay has been on the rise for the past four years, partly as a consequence of pay cuts taken during the pandemic, at a time when many households are still struggling with a cost of living crisis.

The median pay of a FTSE chief executive climbed to £4.58m in the last financial year, up from £4.29m a year earlier, an increase of nearly 7%, according to analysis by the High Pay Centre.