The surge in executive pay is more than 11 times the increase in average earnings and nearly 20 times the rate of inflation. But it’s clearly not getting doled out evenly. Dame Marjorie Scardino, chief executive of Pearson, was the highest paid female last year, earning £2.1m. That may be a pretty tidy package for most of us, but it’s still 25% below the average for her FTSE-100 colleagues, of almost £2.9m. Dorothy Thompson, boss of Drax, meanwhile, earned a mere £731,800.
All of which illustrates what we, and many others, have been saying for ages now – something needs to be done about such anachronistic inequality if we are to encourage women to pursue high-flying careers. There were 16 women executives at the top level last year – still only a tiny fraction of a total of 527. Introducing more incentives such as flexible working would probably help, as would the simple and surely long overdue move of rewarding people for the job they do. Right, rant over.