{"id":5262,"date":"2015-08-17T08:00:35","date_gmt":"2015-08-17T07:00:35","guid":{"rendered":"http:\/\/unitelive.org\/?p=5262"},"modified":"2015-08-17T16:40:48","modified_gmt":"2015-08-17T15:40:48","slug":"parallel-pay-universe","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=5262","title":{"rendered":"Parallel pay universe"},"content":{"rendered":"
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As the average worker languishes on stagnating wages and ever increasing living costs, those at the top are enjoying unprecedented levels of pay, new research has found.<\/p>\n

 
\nPay for chief executives in the FTSE 100 jumped to an average of \u00c2\u01414.964m in 2014 \u00e2\u20ac\u201c that\u00e2\u20ac\u2122s 183 times greater than the average worker. The climb follows a continuous upward trend since 2010, when executives earned 160 times more than average workers and earned \u00c2\u01414.129m.<\/p>\n

 
\nThe High Pay Centre think tank, which conducted the research, also found that the 10 highest paid CEOs earned a jaw-dropping \u00c2\u0141156m between them.<\/p>\n

 
\nAlthough shareholders have the power to vote against outrageously high executive pay at company AGMs, the High Pay Centre noted that among FTSE 100 companies, the average vote against executive pay awards was only 6.4 per cent.<\/p>\n

 
\nAnd despite the fact that executives leading FTSE 100 companies are flush with cash, earning nearly 200 times more than the average worker, only a quarter of these companies are Living Wage accredited.<\/p>\n

 
\nThis would mean that the vast majority of Britain\u00e2\u20ac\u2122s top-paid bosses preside over companies in which some its workers cannot afford to put food on the table.<\/p>\n

 
\nAs a CITY AM app has shown<\/a>, most of the country\u00e2\u20ac\u2122s employees would have to work for centuries before earning what a top CEO earns in one year.<\/p>\n

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 <\/p>\n

Five centuries<\/strong><\/em><\/p>\n

 
\nIf you earn an average annual wage of \u00c2\u014126,000, you\u00e2\u20ac\u2122d have to work for 296.15 years before earning what easyJet CEO Carolyn McCall takes home in one year. If you\u00e2\u20ac\u2122re on the minimum wage, you\u00e2\u20ac\u2122d have to work for more than five centuries to catch up with easyJet\u00e2\u20ac\u2122s top boss.<\/p>\n

 
\nUnite general secretary Len McCluskey condemned the ever-growing pay gap between bosses and workers.<\/p>\n

 
\n\u00e2\u20ac\u015bThe parallel pay universe that Britain\u00e2\u20ac\u2122s top bosses live in has again been exposed by these new findings,\u00e2\u20ac\u0165 he said. \u00e2\u20ac\u015bAction needs to be taken to reduce the outrageous gap between CEOs pay and that of the average worker. Institutional shareholders increasingly need to use their clout to draw a line in the sand over CEO pay.<\/p>\n

 
\n\u00e2\u20ac\u015bGeorge Osborne has imposed a seven year pay drought for nurses, firefighters and paramedics, while his chums at the top of the UK\u00e2\u20ac\u2122s leading companies have enjoyed many years of plenty,\u00e2\u20ac\u0165 McCluskey added.<\/p>\n

 
\n\u00e2\u20ac\u015bYet, these are the very boardrooms that have presided over the longest strike in history, that of investing in their businesses,\u00e2\u20ac\u0165 he explained.<\/p>\n

 
\n\u00e2\u20ac\u015bCEOs ought to be putting cash into creating jobs, especially for apprentices and rewarding employees with decent pay rises, instead of greedily hosing themselves down with torrents of cash.\u00e2\u20ac\u0165<\/p>\n

 
\nAs UNITElive has previously reported<\/a>, investment is at an all-time low, thanks in part to profits being funnelled into shareholder pockets \u00e2\u20ac\u201c in 1970, only \u00c2\u014110 out of every \u00c2\u0141100 in profits went to shareholders.<\/p>\n

 <\/p>\n

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Now, \u00c2\u014170 out of every \u00c2\u0141100 goes to shareholders, leaving little room for investment and job creation.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

As the average worker languishes on stagnating wages and ever increasing living costs, those at the top are enjoying unprecedented levels of pay, new research has found.   Pay for chief executives in the FTSE 100 jumped to an average of \u00c2\u01414.964m in 2014 \u00e2\u20ac\u201c that\u00e2\u20ac\u2122s 183 times greater than the average worker. The climb […]<\/p>\n","protected":false},"author":1,"featured_media":827,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[133,102],"wps_subtitle":"Average worker would take 300 years to earn same as top CEOs ","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/5262"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5262"}],"version-history":[{"count":2,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/5262\/revisions"}],"predecessor-version":[{"id":5268,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/5262\/revisions\/5268"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/827"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}