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4 January 2017, 07:04 | Updated: 4 January 2017, 08:26
Amazingly, top bosses will already have made more money by the first Wednesday of 2017 than the typical UK worker will earn all year.
Amazingly, top bosses will already have made more money by noon on the first Wednesday of 2017 than the typical UK worker will earn all year.
The High Pay Centre today issued research that shows that the average pay ratio between FTSE100 bosses and their employees is 129:1. They're campaigning to narrow the gap.
They found that even if CEOs work long hours with very few holidays, their pay works outs at just over £1,000 an hour. Meanwhile, the “national living wage” for over 25s is £7.20 an hour.
Stefan Stern of the High Pay Centre says: "We hope the government will recognise that further reform to pay practices are needed if this gap is to be closed.
"Our new year calculation is not designed to make the return to work harder than it already is. But ‘Fat Cat Wednesday’ is an important reminder of the continuing problem of the unfair pay gap in the UK."