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08:41 on Wednesday
7 March 2001

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"No fat cats here" says Cambridgeshire directors

UK directors received an average pay rise of 4.5 per cent in the last 12 months, according to the annual survey of members of the Institute of Directors (IoD). The survey also found that directors’ pay is forecast to rise by a further 4.5 per cent in the coming year.

Commenting on the survey Stephanie Smye, chairman of the IoD’s Eastern Branch which represents more than 900 Cambridgeshire directors, said: “There are no fat cats here. The survey findings once again show that the remuneration package of most company directors is far below the kind of level repeatedly reported in the media. Over half the directors surveyed had pay increases of 4 per cent or less.”

In fact 52 per cent of directors received 4 per cent or less, in line with average earnings, and 41 per cent received less than a 3 per cent increase. There was an increase of less than 2 per cent for 17 per cent of directors.

Directors of the smallest companies, those with a turnover of less than £25m, had average salaries of £60,000. Directors in companies with turnovers of between £25m and £200m received average pay packages of £98,000.

The average increase of 4.5 per cent in directors’ pay in the last 12 months is identical to last year’s results. It could also be the same as next year because directors are forecasting pay increases of 4.5 per cent for 2001.

December 2000




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