GMB Experts in the World of Work
Join GMB today
 Follow @GMB_union

Fat Cat Friday: NMW Worker Would take 320 Years To Earn Annual Fat Cat Salary

Friday, January 4, 2019

FAT CAT FRIDAY: GMB UNION CALLS FOR ACTION ON CEO PAY AS NEW FIGURES SHOW MINIMUM WAGE WORKER WOULD TAKE 321 YEARS TO EARN ANNUAL SALARY OF FAT CAT BOSSES

Even workers earning the average wage would have to graft for 133 years to match big wigs' £1,000 an hour pay

GMB, Britain’s general union, has called for action on CEO to reduce the gap between the country’s highest and lowest earners as figures show it would take minimum wage workers 321 years to earn the average yearly pay of fat cat bosses.

Even workers earning the average wage would have to graft for 133 years to take home what top chief executives FTSE100 companies take home in just 12 months.

The average woman worker would have to clock on for more than 146 years to match big wig’s £1,000 an hour pay

The figures have been released by the High Pay Centre and the Chartered Institute of Personnel and Development today to highlight Fat Cat Day - when the UK’s top bosses will have made more money than the typical UK full-time worker will earn in the entire year.

Chief Exec pay has rocketed 11% this year meaning the average FTSE 100 CEO only needs to work until 1pm today earn the same amount as the average UK worker. [1]

Tim Roache, GMB General Secretary, said:

“It’s sickening. Three days into the year and fat cat bosses have already made what average workers will earn all year. It’s not fair, and it makes no sense in how we value people’s contribution to society and it makes no sense for the economy - I don’t know any care workers who squirrel their wages away in off shore accounts, they spend it in their local areas and on paying their bills. 

We need action now - a better living wage and an end to government hamstringing trade unions who for generations have delivered better pay, terms and conditions for members.” 

ENDS

Contact: GMB Press Office on 07958 156846 or at press.office@gmb.org.uk

Notes to editors:

[1] Contact the High Pay Centre for a copy of their full release: http://highpaycentre.org/

 

 

 

Share this page
+1