From CNBC:

The average FTSE 100 CEO will have earned more than the median full-time worker’s annual salary by 1 p.m. London time, with top bosses in the U.K. on track to exceed last year’s milestone. Big businesses and financial lobbyists have called for more remuneration for British CEOs, despite surging income inequality.

A study found that S&P 500 CEOs in the US made an average of $16.7 million in 2022 compared to a full-time workers’ average annual salary of $61,900, highlighting the huge wage disparities. Critics argued that this economic model creates a tiny class of elites while leaving the majority of the population with stagnant living standards and massive inequality.

Union leaders in the U.K. have criticized the government for permitting rampant pay inequality, allowing CEOs to take home skyrocketing earnings while workers suffer the longest wage squeeze in modern history. As the tax burden continues to grow and the cost of living crisis persists, union leaders are demanding proper pay raises for their members and calling for a fairer economic model.



Read more: UK CEO pay exceeds average worker salary for the year