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Last Updated: Friday, 4 November 2005, 03:19 GMT
Top bosses' pay 'up 18% in 2004'
BP's Lord Browne
BP's Lord Browne is thought to be the UK's highest paid executive
The total pay of top company bosses increased by 18% last year, a survey of 1,000 directors has found.

Income Data Services' (IDS) annual board room survey found almost half now earned over 1m, with eight receiving packages worth in excess of 5m.

IDS, which has assessed executive pay for the last 15 years, said it had never seen so many earn so much money.

The rise in directors' wages compared with average settlements of between 3 and 3.5% in the wider economy, it said.

Steve Tatton, of IDS, said that the continuing upward trend may in part be attributed to improved business conditions.

The TUC said it wanted action to curb what it referred to as "sky high increases" .

Meanwhile, the Institute of Directors said no-one wanted to reward failure, but success had to be paid for.


SEE ALSO:
UK third in corporate rich list
28 Aug 05 |  Business
Top bosses to enjoy share bonanza
28 Jun 05 |  Business
Fat cat pay 'harms big business'
27 Nov 03 |  Business
Fat cat pay rises 'ease off'
22 Sep 03 |  Business


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