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27/02/2017
For example, BAT states that increases will not exceed 10% a year and will generally be in the range of rises for other UK-based staff. Pearson also has a 10% normal limit but allows up to 12.5% in specific situations such as internal promotions/changes to the business/role.
Most say that board salary rises are in line with those of staff but some illustrated how small rises can still translate into large amounts. For example, BT's CEO received a salary rise of 2.5%, in line with staff, but its report stated this equated to an extra £24,325 a year. Shell's CEO received a 2.1% rise equating to an extra €30,000 and a salary of €1,460,000 although the stated policy maximum is €2,000,000.
Big Yellow Group took a different approach reporting that its four directors' rises amounted to an extra £30,000 per year in aggregate.