Pay for top British bosses has bounced back to pre-coronavirus levels as company boards shed pandemic-era pay restraint and cashed in on bonus plans set during the economic dislocation caused by Covid-19.
Overall pay for chief executives in the FTSE 100 has reached a median average of £3.6mn, according to Deloitte’s 2022 AGM-season report, similar to the level struck in 2018 and near the record high of £4mn in 2017.
CEO wages fell to £2.8mn in 2020 after bosses cut their pay during the pandemic. This was also a period when many companies set this year’s bonuses, which typically reflected pessimism about prospects for Covid-hit companies that instead went on to grow strongly, helping boost payouts.
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