No, FTSE CEOs do not take home 130 times the average wage
The Guardian’s take on finance continues to entertain. In “Here are six ways to achieve a truly ‘shared society’”, Frances Ryan turn to ‘Income Equality’.
She links to a Guardian article which states CEOs at FTSE 100 companies are paid “130 times more” than the median pay of other staff (source). But Ryan alters that to become: “FTSE 100 CEOs take home 130 times more than their staff.”
Surely not. What of tax on wages, which is progressive – the more you earn the more tax you pay? Tax rates are how society views pay. It might not be fair that the man or woman at the top earns lot more than the average toiler in a shareholder-owned entity, but to negate the effects of tax is absurd.