U.K. directors’ salaries rise

Press, 24 April 1986, Page 26

U.K. directors’ salaries rise

London correpondent The average company director in London is now paid £56,244 ($NZ149,047) a year — but still thinks he is underpaid. Directors’ salaries increased 9.7 per cent over the last year and managers’ pay went up by 9 per cent to £23,726 ($NZ62,874). This compares with a 7.1 per cent increase for all other workers. But the British Insitute of Management says that men last year; their average earnings rose by 10.5 per cent. The latest 8.1. M. salary survey, covering 23,000 people in 366 companies, shows pay keeping ahead of prices, which went up by 6.1 per cent. Basic pay rates rose less than last year’s buoyant company profits. Managers and directors’

pay in Britain is increasingly related to profit, with two out of five companies having savings-re-lated option schemes, and one in five offering a share option scheme. London salaries comfortably outstrip those in the provinces. A manager in London earns 50 per cent more than a counterpart in the Midlands. Directors do even better, earning two thirds more.