Workers paid tomorrow’s raised National Minimum Wage (NMW) would have to work until September 2nd 2357 to earn the average annual pay of FTSE 100 CEOs, research conducted by The Equality Trust has revealed.
A worker earning the updated national Living Wage, would need to work for 311 years to earn a single year’s pay for a FTSE 100 CEO, according to new analysis by The Equality Trust.
The Equality Trust welcomes initiatives to reduce inequality, so we were interested to see that a new international wage standard has been developed to encourage organisations to commit to fairer wage ratios.
Today, we are launching a petition to call on the Government to introduce mandatory pay ratio reporting in the private sector. The private sector is where we have the largest pay gaps. Too many of our larger companies are paying excessive salaries at the top and poverty pay at the bottom.