The 1993 Smaller Business Review published today by the institute and Remuneration Economics shows earnings of managers in companies with turnover of less than pounds 25m rising 6.5 per cent in the past year while those in companies with sales of pounds 125m to pounds 600m rose 5.2 per cent. Directors fared even better, with earnings rising 6.9 per cent. The average manager in a smaller business now earns pounds 27,504, while the average director earns pounds 50,803.
However, managers of companies with turnover of more than pounds 600m received rises of 7.2 per cent, with directors getting 8.6 per cent.
Roger Young, director general, said that smaller firms had to adapt more quickly than their larger counterparts. 'They reacted early on to the demands of the recession by tempering salary increases. Now they are well poised for an upturn.'Reuse content