More than a third (36%) of FTSE 100 CEOs received no salary increase this year, according to research from PwC.
PwC’s Taking stock – Review of 2015 AGM season report reveals that the chief executives who did get a raise saw a median 3% pay increase, taking the median base salary to £891,000 in 2015.
CEOs at four out of five businesses were paid more than half their maximum bonus, while one in 25 companies did not award any bonus to their CEOs at all.
Drew Matthews, partner at New Bridge Street, said that the figure reflects increased executive remuneration restraint.
He said: “I don’t think we have reached a glass ceiling on executive pay but remuneration committees are showing more restraint. We will have to wait and see if this restraint continues over the next 12 months, given continued improvements in the economy and a more pro-business government.”