The chief executives of FTSE 100 companies that have tapped government support schemes through the coronavirus crisis received higher than average multiples of staff pay, according to new research.
A report by the High Pay Centre showed that the 11 FTSE 100 companies found to have used the schemes paid their chief executives an average of 80 times more than their median employee and 109 times more than their lowest-paid staff.
The High Pay Centre analysed the pay ratio disclosures made by 107 UK companies that have published their annual reports so far this year. Two-thirds of the FTSE 350 are yet to report.
The average chief executive of a UK company was paid nearly £3m last year — 55 times more than the company’s median employee and 78 times more than employees in the lowest quartile.
The report identified 39 FTSE 350 companies that had benefited from government support