Top UK CEO Pay Outpaces Average Worker Earnings by 120 Times

The median compensation for FTSE 100 CEOs reached a record $5.34 million in 2023, according to the High Pay Centre. This is 120 times what the average full-time UK worker earns. The highest-paid CEO was AstraZeneca's Pascal Soriot, earning £16.85 million.

In 2023, the median compensation for FTSE 100 CEOs reached a record $5.34 million, outpacing the earnings of the average full-time UK worker by 120 times, according to the High Pay Centre.

The think tank highlighted that median executive pay rose by 2.2% from 2022, while the median full-time worker earned £34,963 last year.

The highest-paid CEO was AstraZeneca's Pascal Soriot, earning £16.85 million in 2023.

The study suggests that excessive executive pay makes it difficult to fund wage increases for the broader workforce and stems from factors like declining trade union membership and low worker participation in business decisions.