High Pay Day 2020: Scope for fairer pay and lower inequality remains considerable

Pay for the typical FTSE 100 CEO in 2020 has already surpassed the amount the average UK worker earns in an entire year. We can do much more to achieve a better balance between those at the top and everybody else

FTSE 100 CEOs only need to work until just before 17.00 on Monday 6 January 2020 in order to make the same amount of money that the typical full-time employee will in the entire year.

The calculation for ‘High Pay Day 2020’ is based on research by HPC and the CIPD, the professional body for HR and people development, showing that:

-Top bosses earn 117 times the annual pay of the average worker

-In 2018 (latest available data) the average FTSE 100 CEO earned £3.46 million, equivalent to £901.30 an hour
-In comparison, the average (as defined by the median) full-time worker took home an annual salary of £29,559 in 2018, equivalent to £14.37 an hour

-To match average worker pay in 2020, FTSE 100 CEOs starting work on Thursday 2 January 2020 only need to work until just before 17.00 on Monday 6 January – just three working days (33 hours)

High Pay Day 2020: Scope for fairer pay and lower inequality remains considerable | Blog | High Pay Centre