Britain’s fatcat bosses have seen their pay and perks surge three times faster than ordinary workers in the past year.
Research by think tank the High Pay Centre shows the average FTSE chief executive saw their total pay rise 15% to £5.2million this year. That compares to an average 4.85% rise for most employees.
Andrew Speke, spokesperson for the High Pay Centre, called the gap “both shocking and concerning.” He said an average 15% pay increase for chief executives, at a time when real-term wages are stagnating and living standards falling, “is in neither the country nor the economy’s best interests. This reflects corporate short-termism at its clearest.”
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The High Pay Centre’s research is based on data for 64 of the 100 companies in the Footsie, meaning there is potential for change as more reports are released throughout the year. The figures for chief executives include everything from their bumper salaries through to any bonuses, pension contributions and other perks. The total amount raked in by the average boardroom bigwig equates to 95 times more than the average worker earns a year.
While the average increase for a top CEO may be 15%, it means some running Britain’s biggest listed companies have enjoyed much bigger hikes.
They include Linda Z Cook, the boss of Harbour Energy, one of the world’s largest oil and gas companies, whose total pay and perks more than tripled from £3million in 2024 to almost £11million in 2025. The bonanza included a salary which surged from £904,000 to £975,000, a £1.5million annual bonus and £7.5million from a long term reward scheme. Ms Cook has earned around £25.4million since taking over in 2021.
Ms Cook was among those slammed for, critics claimed, benefiting financially from the Iran war and a leap in oil prices. As the Mirror revealed, she saw the value of her stake in Harbour Energy jump by £4.3million to £26.2million between the start of the Middle East conflict and the start of April.
Elsewhere, FTSE 100 listed mining giant Antofagasta handed its boss, Iván Arriagada, £5.36million last year, a 75% surge from just over £3million in 2024.
Lord Wolfson, boss of fashion giant Next, was another whose already rich rewards rocketed, up more than 50% to £7.4million last year. The Tory peer’s £967,000 basic salary was boosted by almost £6.2m in bonuses. His total sum equates to around 192 times what the average UK worker earned last year. Next’s profits jumped 14.5% to more than £1.1billion last year, with sales hitting £7billion.
Mr Speke said: “Companies themselves should be concerned about these trends, as research shows that when CEO pay rises significantly faster than employee pay, firms may be more exposed to operational and reputational risks. These include staff turnover, weakened employee morale and absenteeism, all of which hold the potential to significantly undermine firm productivity.
“Policymakers, regulators and companies must endeavor to ensure a balanced, fair and sustainable model of corporate reward that recognises the indispensable value of the workforce alongside executive leadership. Addressing pay gaps should not be viewed solely as a matter of fairness, but also a vital step in building a resilient and productive business model.”
