Top UK CEOs Have Already Earned More Money Than Average Workers Will All Year

A study by the High Pay Centre has revealed a striking disparity in earnings between FTSE 100 CEOs and average workers. By midday on January 6, 2025, some top executives already earned more than the UK's median yearly salary of 37,430 pounds. To put this into perspective, the median FTSE 100 CEO pay currently stands at 4.22 million pounds, which is 113 times the median full-time worker's pay of 37,430 pounds. This represents a 2.5% increase in median CEO pay levels in the past year, while the median worker's pay has increased by 7%. 

Assuming these CEOs resumed work on the first working day after the new year, it would have taken them just 29 hours to surpass the average annual salary. 

The High Pay Centre's analysis also reveals that FTSE 100 CEOs are paid significantly more than other professionals, including nurses, teachers, and police officers. For instance, FTSE 100 CEOs are paid 165 times more than a nurse, 140 times more than a teacher, and 132 times more than a police officer. 

The highest-earning FTSE 100 CEOs have received staggering amounts in recent years. AstraZeneca's Pascal Soriot topped the list with 18.7m pounds in 2024. Erik Engstrom of RelX and Tufan Erginbilgic of Rolls-Royce followed closely, each receiving 13.6m pounds.

These findings have sparked concerns about income inequality and the impact of high CEO pay on the broader economy. The High Pay Centre is calling for reforms to address these issues, including greater transparency and accountability in CEO pay.

High Pay Centre director Luke Hildyard said: "A feeling that the economy works for the enrichment of a tiny elite at the expense of wider society is an underrated cause of populist anger and support for extremist politics. Policymakers who fail to address this inequality are storing up some big problems for the future.

"Reforms introduced by the new government enabling trade unions to reach more workers should help ordinary employees win a fairer share of income that is currently captured by super-rich executives and investors. Bolder measures like representation for elected worker directors on company boards and caps on executive pay would do more to ensure that the wealth generated by the UK economy is shared across the country in a way that's sensible, sustainable and proportionate."

Paul Nowak, general secretary of the Trades Union Congress, emphasised that every working individual contributes to Britain's wealth. However, he noted that while millions of low-paid workers continue to struggle with the cost of living crisis, those at the top are receiving disproportionately large shares of the wealth.

"The government's Employment Rights Bill will help many workers by improving pay bargaining rights and job security. We also need reforms to rein in boardroom greed, including seats for workers on executive pay committees," Mr Nowak added.