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Top CEOs make workers’ yearly salaries in just FOUR days

<p><span style="font-weight: 400;">Leaders of some of the UK’s biggest companies will have made more money by 9am local time (8pm AEDT) on January 7 than the average UK worker earns in a year.</span></p> <p><span style="font-weight: 400;">A new </span><a rel="noopener" href="https://highpaycentre.org/high-pay-day-2022/" target="_blank"><span style="font-weight: 400;">analysis</span></a><span style="font-weight: 400;"> from the High Pay Centre, a UK think-tank that campaigns for fair pay for workers, suggests that a FTSE 100 chief executive (working at any of the 100 companies listed on the London Stock Exchange) will have earned more than an average full-time UK worker’s annual salary.</span></p> <p><span style="font-weight: 400;">The High Pay Centre’s calculations are based on government statistics relating to pay levels across the economy, as well as previous analyses of CEO pay disclosures in annual reports.</span></p> <blockquote class="twitter-tweet"> <p dir="ltr">Today the median FTSE100 CEO's earnings for 2022 will surpass the median annual wage for a full-time worker in the UK<br /><br />Such extreme inequality is immoral, unacceptable &amp; unsustainable. Wealth in this country has to be shared more fairly &amp; more evenly<a href="https://twitter.com/HighPayCentre?ref_src=twsrc%5Etfw">@HighPayCentre</a></p> — Caroline Lucas (@CarolineLucas) <a href="https://twitter.com/CarolineLucas/status/1479354617167110145?ref_src=twsrc%5Etfw">January 7, 2022</a></blockquote> <p><span style="font-weight: 400;">This year marks the first in the last ten years of reporting by the High Pay Centre where CEOs have made the same amount as average UK workers within the first four working days of the year. In previous reports, CEOs have typically surpassed the average yearly wage by January 6.</span></p> <p><span style="font-weight: 400;">According to data from 2020 - the latest full-year figures - FTSE100 CEOs were paid £2.7 million ($AUD 5.13 million) on average that year, which is nearly 86 times the average salary of £31, 285 ($AUD 29,385), as reported by </span><em><a rel="noopener" href="https://www.theguardian.com/business/2022/jan/07/ftse-bosses-pay-average-9am" target="_blank"><span style="font-weight: 400;">The Guardian</span></a></em><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">The 2020 financial year saw the average wage for CEOs fall, with many bosses taking wage cuts and cancelling their bonuses during the COVID-19 pandemic and subsequent lockdown.</span></p> <blockquote class="twitter-tweet"> <p dir="ltr">Today is <a href="https://twitter.com/hashtag/HighPayDay?src=hash&amp;ref_src=twsrc%5Etfw">#HighPayDay</a>. <br /><br />Just prior to 9am today, CEOs' earnings for 2022 will surpass the median UK full time salary. <br /><br />As key workers face a cost of living crisis, we need urgent action to ensure wealth is shared more fairly in our society. <a href="https://t.co/RC5ah2daxs">https://t.co/RC5ah2daxs</a></p> — High Pay Centre (@HighPayCentre) <a href="https://twitter.com/HighPayCentre/status/1479347068330123269?ref_src=twsrc%5Etfw">January 7, 2022</a></blockquote> <p><span style="font-weight: 400;">Though most companies are yet to release figures for the financial year ending in 2021, the High Pay Centre’s report found that 57 percent of those who have done so have recorded increased wages for CEOs.</span></p> <p><span style="font-weight: 400;">The country’s biggest unions have said the disparity between bosses and ordinary workers was “disgraceful”, demanding that companies be forced to appoint a frontline worker to executive pay committees.</span></p> <p><span style="font-weight: 400;">“The pandemic has shown us all who keeps the country going during a crisis,” Frances O’Grady, the general secretary of the Trade Union Congress, said.</span></p> <p><span style="font-weight: 400;">“There are millions of hardworking people in Britain - from carers, to delivery drivers, to shop floor staff - who give more than they get back, but greedy executives are taking home millions while ordinary workers face yet another year of pay squeezes.</span></p> <p><span style="font-weight: 400;">“As we emerge from the pandemic we need to redesign the economy to make it fair, and that means big reforms to bring CEO pay back down to earth.”</span></p> <p><span style="font-weight: 400;">Ms O’Grady said committees that set CEO pay must be “required to include workforce representatives who can speak up for a fairer balance of pay with ordinary workers”.</span></p> <p><span style="font-weight: 400;">“Incentive schemes for company directors should be replaced by profit-share schemes that include the whole workforce,” she added.</span></p> <p><span style="font-weight: 400;">“Too much wealth is being hoarded at the top.”</span></p> <p><span style="font-weight: 400;">Top earners in the UK included Pascal Soriot, the CEO of vaccine-maker AstraZeneca, who received £15.5 million ($AUD 29.4 million), Berkeley’s Rob Perrins, who collected £8 million ($AUD 15.2 million), and Experian’s Brian Cassin, who earned £10.3 million ($AUD 19.5 million).</span></p> <p><span style="font-weight: 400;">Meanwhile in Australia, the </span><em><a rel="noopener" href="https://www.afr.com/work-and-careers/leaders/revealed-australia-s-50-highest-paid-ceos-20211117-p599rf" target="_blank"><span style="font-weight: 400;">Australian Financial Review</span></a></em><span style="font-weight: 400;"> found that the paychecks of the country’s top bosses increased on average by 24 percent in the 2020-21 financial year, with Macquarie Group CEO Shemara Wikramanayake topping the list of high-earners with a reported pay of $15.97 million.</span></p> <p><span style="font-weight: 400;">As for New Zealand, a survey conducted by </span><em><a rel="noopener" href="https://www.stuff.co.nz/business/126432044/bosses-of-our-biggest-companies-can-earn-nearly-40-times-more-than-their-workers" target="_blank"><span style="font-weight: 400;">Stuff</span></a></em><span style="font-weight: 400;"> found that Kiwi CEOs received between 16 and 36 times worker pay, and that only half of the country’s 20 biggest companies were willing to disclose their median pay.</span></p> <p><span style="font-weight: 400;">According to the publication, Fletcher Building CEO Ross Taylor was the country’s highest earner, receiving $7 million ($AUD 6.6 million). Though the company refused to disclose its workers’ median pay, Mr Taylor made nearly 90 times that of his workers if they received the survey’s mean pay of $80,000 ($AUD 75,460).</span></p> <p><span style="font-weight: 400;">Sharon Graham, the general secretary of Unite the Union, took to twitter to criticise the continued heft of CEO salaries despite the pandemic.</span></p> <p><span style="font-weight: 400;">“Is it the nurse in an intensive care unit saving the lives of those struck by Covid, or an elite investment banker making millions, who contributes most to society?” she wrote on Twitter.</span></p> <p><span style="font-weight: 400;">“Which of them stood up for all of us during the pandemic?”</span></p> <p><em><span style="font-weight: 400;">Image: Getty Images</span></em></p>

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Your horoscope for May 2019

<p><strong>Gemini May 21 – June 21</strong></p> <p>With speedy Mars in your sign at the start of May, take care when running for the train, bus or taxi and don’t drive too fast if you’re late for an appointment. While you can achieve a lot with your energy dialled up high, you may come across as tense or even aggressive if you’re racing to finish a project or dashing off to meet a friend. Take time out to do what you know calms you down, such as going for a walk or listening to your favourite meditation. Getting to bed early will benefit you. Also, plan a getaway if possible, as you may be feeling worn out. Later in May, you will be supported by your ruler Mercury in having deep and meaningful conversations involving issues to do with joint finances, an inheritance, intimacy or even sex. These positive talks may be life-changing and you will come up with inspired answers to any difficult questions.</p> <p>Best days: May 1, 7-9, 21, 31</p> <p><strong>Cancer June 22 – July 22</strong></p> <p> “Luck is what happens when preparation meets opportunity,” said Roman philosopher Seneca. You come up with a breakthrough in matters to do with offspring, hobbies or affairs of the heart, the ‘lucky’ outcome of you putting in the hard yards behind the scenes.</p> <p>Best days: May 5, 9-11</p> <p><strong>Leo July 23 – August 22</strong></p> <p>You may dazzle your boss or higher-ups and find yourself in the spotlight for your contribution at work or to business affairs in early May. Just remember to devote time and energy to your loved ones as well.</p> <p>Best days: May 5, 11-13</p> <p><strong>Virgo August 22 – September 22</strong></p> <p>Broadening your horizons is a strong urge for you this month. Chat with an acquaintance from faraway, research an overseas trip or perhaps start learning a language. In mid-May, be prepared to make a break from your everyday routine and put your plans into action.</p> <p>Best days: May 5, 13-15</p> <p><strong>Libra September 23 – October 23</strong></p> <p>You attract a love interest or business proposition. But is the chemistry right, and do the numbers add up? A close friend is ready to offer a listening ear if things don’t pan out as you’d hoped. This event has its upside as it makes you look at what you truly value in a good partner.</p> <p>Best days: May 5, 14, 15-1</p> <p><strong>Scorpio October 23 – November 22</strong></p> <p>While it’s easy to see where others should change, it’s harder to transform our behaviour or see where we sabotage ourselves. But a full moon in your own sign, which lights up your self-expression, helps you become clear about what to do.</p> <p>Best days: May 14-15, 17-20</p> <p><strong>Sagittarius November 23 – December 21</strong></p> <p>The evidence is compelling: regular exercise and a healthy diet are essential for our wellbeing. You look into how to spice up your everyday routine and the new moon on May 5 inspires you to put your findings into action.</p> <p>Best days: May 5-6, 17</p> <p><strong>Capricorn December 22 – January 20</strong></p> <p>You’ve been tackling some heavy issues this year so take the time to balance the scales and indulge in the lighter side of life. Plan a romantic dinner with your sweetheart or dedicate a day to doing whatever makes you happy.</p> <p>Best days: May 5-6, 14, 19</p> <p><strong>Aquarius January 20 – February 18</strong></p> <p>You’re feeling the call to makeover your home or living arrangements. Simply painting a wall, recovering a chair or potting a plant could be enough of a transformation to satisfy your mood for change without straining your finances.</p> <p>Best days: May 1, 19, 24-26</p> <p><strong>Pisces February 19 – March 20</strong></p> <p>There is a friendly atmosphere on May 5 that brings you the chance to have a heart-to-heart connection with family or neighbours. You’ll also find a way to improve your daily commute or short trips in your neighbourhood.</p> <p>Best days: May 5, 19, 27-28</p> <p><strong>Aries March 21 – April 19</strong></p> <p>Your attention turns to matters of money, possessions and property with love planet Venus still in your sign and a new moon in your second house. The timing is perfect to reorganise your finances to achieve a goal. However, avoid getting into debt.</p> <p>Best days: May 1, 5, 1</p> <p><strong>Taurus April 20 – May 20</strong></p> <p>Change-making planet Uranus has been influencing your sign for a month and already you may have experienced a positive surprise or a flush of energy. When Venus partners with Uranus later in May, it may spark an event with children or a fun project</p> <p>Best days: May 5, 19</p> <p><em>Written by Janice Jones. This article first appeared in </em><a href="http://www.readersdigest.com.au/true-stories-lifestyle/thought-provoking/horoscopes-may-2019?items_per_page=All"><em>Reader’s Digest</em>.</a><em> For more of what you love from the world’s best-loved magazine, </em><a href="http://readersdigest.innovations.com.au/c/readersdigestemailsubscribe?utm_source=over60&amp;utm_medium=articles&amp;utm_campaign=RDSUB&amp;keycode=WRA93V"><em>here’s our best subscription offer.</em></a> </p> <p> </p> <p><img style="width: 100px !important; height: 100px !important;" src="https://oversixtydev.blob.core.windows.net/media/7820640/1.png" alt="" data-udi="umb://media/f30947086c8e47b89cb076eb5bb9b3e2" /></p>

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