Cost of living puts pay of UK directors on lower rung
Thursday 21 October 1993
The median base salary increase for directors in UK subsidiary companies was 6 per cent in the year to July 1993. Their Portuguese equivalents had the highest rise, at 13.8 per cent, and the Swiss the lowest, at 4.5 per cent.
However, once the figures are adjusted for inflation, the Portuguese increase slips to 5 per cent, the UK to 3.3 per cent and the Swiss to 2.7 per cent.
In gross pay terms, the standard British director ranks twelfth, with a salary of pounds 41,000. Once tax is deducted, the UK director - assuming he or she is married with two children - rises to tenth, with take-home pay of just under pounds 30,000. However, when the cost of living is taken into account, he or she slips back again, to eleventh - just ahead of Denmark, Finland and Sweden.
The report found that annual bonuses were almost universal in Western Europe, with their value closely linked to status. Share options also depended on status.
The study, Management Remuneration in Europe 1993-94, covered more than 1,000 companies, mostly European subsidiaries of multinationals and with annual turnover assumed to be the equivalent of pounds 20m in 16
Many differences distort the earnings picture - for instance, the varying levels of taxation, social security deductions and costs of living - while in the past year there have been large and sudden exchange-rate movements.
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
Loch Ness Monster found on Apple Maps?
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
Kim Jong-un, crowds and contraband: Inside North Korea with the Pyongyang marathon winner
Cover up! Mother told to show less cleavage during Disneyland family trip: 'Are we supposed to wear turtlenecks our whole lives?'
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 'Natural' energy drink banned for containing erectile dysfunction drug
- 2 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 3 Dylan Tombides: West Ham confirm 20-year-old striker has died after battle with cancer
- 4 Loch Ness Monster found on Apple Maps?
- 5 Angus Steakhouse: How does tourist staple continue to thrive in today's gourmet market?
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...