On October 15, 2009
UK Directors’ Bonuses Have Frozen, Honest
Contrary to what you might be seeing in the news, bonus pay-outs for UK board members have significantly decreased. A recent Hay Group survey of almost 12,000 senior executives found the median (mid-range) average boardroom director’s salary has stayed static in the twelve months to May 2009. Total cash paid, including base salary and bonus dipped by 10.1 per cent, with a third saying they had received no bonus at all. Below-board executive pay reflected these reductions, although not quite so severely. So, if Hay’s data is correct, why is it we are hearing about bankers trousering fat bonuses still? In a conversation with Hay Group director Jon Dymond, he suggested that media reports of soaraway remuneration packages are based on…
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