The head honchos of top UK stock market companies, known as FTSE 100 bosses, have already earned more by noon today than the average worker makes in a whole year. A recent study by the High Pay Centre revealed that these chief executives took home an average of £4.4 million in salary and benefits last year, up from £4.22 million in 2024.
Comparative data shows that these CEOs need less than three working days in 2026 to exceed the yearly earnings of an average UK worker. The typical FTSE 100 bigwig’s median pay of £4.4 million is a whopping 113 times higher than a full-time worker’s average pay of £39,039.
Released annually, this analysis follows the recent passing of the Employment Rights Act, which aims to enhance workers’ rights, including facilitating trade unions’ access to workplaces and informing new employees about their union joining rights.
The decline in trade union membership has been a significant factor in the widening pay gap between executives and workers, leading to increased inequality in the UK and other Western nations since the 1980s. The High Pay Centre’s Charter for Fair Pay, issued over a year ago, called for the effective implementation of employment rights legislation and greater worker participation in company decision-making.
Andrew Speke, the interim director of the High Pay Centre, highlighted the stark disparity in how the contributions of most workers are valued compared to a privileged few executives. He emphasized the need for comprehensive corporate governance reform, including worker representation on major company boards and higher taxes on firms overpaying top earners to address deep-rooted inequalities and promote social mobility.
TUC General Secretary Paul Nowak praised the Employment Rights Act as a step toward improving working conditions for millions of workers and urged government action to curb excessive corporate greed by ensuring worker representation on executive pay committees.
A spokesperson from the GMB union echoed concerns about workers struggling amid a cost of living crisis while top executives continue to enjoy substantial earnings. They emphasized the significance of the Workers’ Rights Act in leveling the playing field for workers to receive fair compensation.