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....At the start of 2016, Pearson announced 4,000 job cuts and also lowered its profit forecast. Pearson, the former owner of the Financial Times, said Mr Fallon's basic salary was frozen and would remain so in 2017. ... [Read full article on BBC ]
Friday 24th of March 2017 04:28:38 PM
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Latest Finance News related to Basic Salary

Pearson boss sees pay boost despite firm's struggles image
Source : BBC [Read Article] Friday 24th of March 2017 04:28:38 PM
....At the start of 2016, Pearson announced 4,000 job cuts and also lowered its profit forecast. Pearson, the former owner of the Financial Times, said Mr Fallon's basic salary was frozen and would remain so in 2017. ...
New GlaxoSmithKline chief to earn 25% less than her predecessor image
Source : Guardian [Read Article] Tuesday 14th of March 2017 07:04:51 PM
....”. According to the annual report, her pay consists of four pay components: a £1m basic salary, which is 10% lower than Witty’s; 20% of her salary paid into her pension, which GSK says is “significantly lower” than Witty, who has a more generous defined benefit arrangement; an annual bonus worth up to 100% of her salary, or 200% in exceptional circumstances – less than the 125% of salary that Witty could have achieved; and a long-term incentive plan award of shares worth up to 550% of her salary, less than the 700% grant that Witty could have received. ...
Co-op CEO Richard Pennycook to step down image
Source : Guardian [Read Article] Tuesday 7th of February 2017 04:13:24 PM
....Co-op members used a 2015 executive meeting to protest against high executive pay, and last year, Pennycook won plaudits for asking for a 60% cut in his multimillion-pound pay package. He agreed to cut his basic salary from £1. ...
British Airways cabin crew begin six days of strikes image
Source : Guardian [Read Article] Sunday 5th of February 2017 12:58:36 PM
....But BA anticipates that many of the 2,900 crew involved will report for work, and has increased sanctions on strikers by threatening to dock two years of bonuses and removing all staff travel discounts for the next year from anyone joining industrial action. Crew in the mixed fleet earn a basic salary of £12,000, but most earn a minimum of £21,000, according to BA, after bonuses and flying time. ...
Southern rail, London Underground and BA staff to go ahead with strikes image
Source : Guardian [Read Article] Friday 6th of January 2017 04:25:48 PM
.... The crew are predominantly young recruits to the “mixed fleet”, a branch that was set up by the airline at the time of the cabin crew strikes of 2010-11. New entrants earn as little as £12,000 basic salary, although the airline says full-time staff earn at least £21,000 a year after additional hourly payments, commission and allowances for flights they work. ...
Gambling firms charmed MPs ahead of betting review in 2016 image
Source : Guardian [Read Article] Sunday 1st of January 2017 05:37:37 PM
....Davies accepted £4,720 of hospitality from the gambling industry in 2016, while Robertson enjoyed entertainment worth £5,166. On their basic salary of £74,962, it would take an MP nearly a month to earn enough to pay for £5,166 of hospitality out of their own pocket. ...
The grim truth of Chinese factories producing the west’s Christmas toys image
....Some of this year’s must-have brands were made in the factories visited by the undercover team. At the Foshan Nanhai Diecast Company factory the basic salary for workers was just 86p an hour. ...
British Airways cabin crew to vote for possible industrial action image
Source : Guardian [Read Article] Friday 11th of November 2016 04:21:44 PM
.... All new recruits join the mixed fleet, which was set up in 2010 offering markedly inferior pay and conditions to those enjoyed by existing crew. Unite, the union representing the crew, says the average pay including allowances is just £16,000 a year, a figure disputed by BA, which says crew would normally make at least £21,000 a year with bonuses, from a basic salary of £12,000 a year. ...
What are the highest paid jobs of 2016 in the UK? image
Source : Guardian [Read Article] Monday 31st of October 2016 11:59:45 AM
....1% (£882), following a decline in the number of in-house vacancies in the run-up to the EU referendum. “Candidates are more aware that to make the move from private practice to in-house they do have to take a cut on their basic salary,” says Rebecca Garland, spokesperson for in-house legal recruitment agency Barclay Simpson. ...
Born to sell image
Source : BBC [Read Article] Sunday 4th of September 2016 11:29:39 PM
....And things did not initially go well for the man from Norwich, in the east of England. "Before I started I'd talked my way into doubling my basic salary, but the only problem was that I then had to do the job," says Jacyn, now 33. ...
Owning a property is BETTER than a pension, says Bank of England economist image
Source : Daily Express [Read Article] Monday 29th of August 2016 10:43:00 AM
....Mr Haldane caused controversy in May when he said he could not make “the remotest sense of pensions”. Yet with a basic salary last year of just over £182,000 he is in line for a pension of nearly £84,000 a year. ...
'Property is better bet' than a pension says Bank of England economist image
Source : Guardian [Read Article] Sunday 28th of August 2016 01:47:42 PM
....Haldane owns two homes – one in Surrey and a holiday home on the Kent coast. His basic salary at the Bank is £182,000 and he is in line for a pension of more than £80,000 a year when he retires. ...

Child sex abuse inquiry head Dame Lowell Goddard 'spent 70 days working abroad or on holiday in a year'
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.... It covers England and Wales. Dame Justice Goddard, who earns a basic salary of £360,000 a year, could receive more than £5 million in pay and perks amid fears hearings will drag on for a decade, The Telegraph disclosed last week. ...

EU demands Britain pays pensions of 1,730 Eurocrats in wake of Brexit vote
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....Failure to find a solution could put at risk pension payments to about 3,000 UK officials who have worked in the EU institutions since 1973. The typical EU official is entitled to a pension worth no more than 70 per cent of final basic salary, at a 1. ...

Goddard Inquiry: New Zealand judge becomes Britain’s highest paid civil servant with £5m pay package
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....Campaigners described the flight and accommodation allowances as “highly questionable”. The judge earns a basic salary of £360,000 a year. ...
The gender pay gap won't just go away, but new regulations are a start image
.... Moreover, claims that are brought are almost always settled before they get to tribunal, meaning the general public is less likely to hear about them. New gender pay gap reporting regulations, due in October, will mean that employers with 250 staff or more (there are around 8,000 of them in the UK) will have to publish their gender pay gap figures for both basic salary and bonus payments. ...
Sainsbury's boss enjoys 86% pay rise despite fall in underlying profits image
....For the coming year, Coupe and Sainsbury’s finance director, John Rogers, have been handed a 1. 5% rise in basic salary to £929,486 and £685,125 respectively. ...
City news: Debenhams, B&M, Accrol Group and Pets at Home image
Source : Daily Express [Read Article] Friday 27th of May 2016 07:18:00 AM
....Bucher, who previously worked for sportswear giants Puma and Nike, succeeds Michael Sharp, who will step down next month. His basic salary is £700,000, with a maximum bonus equivalent to 350 per cent of his salary in the first year. ...
Debenhams poaches Amazon's Sergio Bucher as new CEO image
Source : Guardian [Read Article] Thursday 26th of May 2016 10:19:31 AM
....He said the clothing side, especially womenswear, was the main challenge, while the beauty division was doing well. Bucher’s remuneration includes a basic salary of £700,000 and maximum bonuses equivalent to 350% of salary, or £2. ...
Standard Life chairman says boardroom pay is too high image
Source : Guardian [Read Article] Tuesday 17th of May 2016 06:59:34 PM
....2 million small shareholders – who account for half of all investors – backed the remuneration report. Grimstone met 11 major investors in the last 10 days to explain to them why the company had raised Skeoch’s performance-based pay compared to his predecessor David Nish, while paying him a lower basic salary than Nish. ...
Heathrow Airport bosses to net bonus if third runway awarded image
Source : Guardian [Read Article] Sunday 15th of May 2016 03:20:27 PM
....Chief executive John Holland-Kaye earned £2. 06m last year, more than doubling his basic salary of £885,000. ...
Morrisons chief executive given £1m bonus image
Source : Guardian [Read Article] Friday 6th of May 2016 02:16:11 PM
....The pay deal potentially sets Morrisons up for another confrontation with shareholders at its annual shareholder meeting in June after more than a third of shareholders, an unusually high number, voted against the supermarket’s remuneration report last year. Potts has not taken a pay rise for the coming year – with a basic salary of £850,000. ...
City News: Hiscox, Premier Foods, Volkswagen and Chapel Down image
Source : Daily Express [Read Article] Friday 22nd of April 2016 10:48:00 PM
....The Lloyd’s insurer appointed Hamayou Akbar Hussain, known as Aki, to replace interim chief financial officer John Worth, who took over last September after Stuart Bridges left to join interdealer broker Icap. Aki, whose basic salary will be £450,000, is expected to join in the second half of this year. ...
Co-op chief's trumpeted 60% pay cut does not complete until 2017 image
Source : Guardian [Read Article] Thursday 7th of April 2016 08:10:41 PM
....But analysis of the report reveals that Pennycook is still in line for total rewards of just over £3m this year. A planned cut in basic salary from £1. ...
Should you ever ask for a pay cut? image
Source : BBC [Read Article] Thursday 7th of April 2016 05:08:35 PM
....The boss of the Co-op Group has asked for a £500,000 pay cut. Starting in July, chief executive Richard Pennycook's basic salary will fall from £1. ...
Co-op boss takes a 60% cut in his pay package image
Source : Guardian [Read Article] Thursday 7th of April 2016 10:04:27 AM
....5m if he meets all his targets this year. His basic salary will fall from £1. ...
Aviva chief Mark Wilson's take home pay doubles to £5.67m image
Source : Guardian [Read Article] Tuesday 29th of March 2016 03:44:35 PM
....Wilson received a bonus of £1. 78m, or 182% of his basic salary – the maximum possible payout is 200% – due to “strong financial performance” and progress on strategic objectives last year, Aviva said in its annual report, published on Tuesday. ...
As the tax year ends, four things you must do in the next 10 days image
Source : Guardian [Read Article] Saturday 26th of March 2016 06:59:21 AM
....Lots of families have already been hit by the government’s “high income child benefit charge” – child benefit is clawed back via the tax system if either you or your partner have an “adjusted net income” of more than £50,000. That means total taxable income (ie, basic salary plus any company benefits, plus savings interest and dividend/rental income) minus things such as pension contributions and charitable giving. ...
Business News: Pets at Home, Sports Direct, Markit image
Source : Daily Express [Read Article] Tuesday 22nd of March 2016 07:26:00 AM
....Kellett has been on the group’s board for the past decade, and was in charge of its retail business. His pay will include a basic salary of £475,000. ...
British Gas owner Centrica's CEO earns £3m in his first year image
Source : Guardian [Read Article] Wednesday 16th of March 2016 01:19:33 PM
....Iain Conn, the chief executive of British Gas’s owner Centrica, earned £3m in his first 12 months despite overseeing a fall in underlying profits and making thousands of job cuts. The energy boss received a £580,000 bonus and a £600,000 “recruitment award” as well as a basic salary of £925,000. ...
The CBI: David Cameron's unwavering ally in EU referendum image
Source : Guardian [Read Article] Tuesday 15th of March 2016 12:01:01 AM
.... The man who has built up WPP from scratch into the biggest marketing and advertising company in the world says he only does well if his shareholders are doing well. Sorrell’s basic salary is £1. ...
When even Tory MPs can't buy homes, how can Cameron deny the crisis? image
Source : Guardian [Read Article] Friday 12th of February 2016 07:10:12 AM
.... As a fellow 28-year-old working in London, I can feel some sympathy with his annoyance at sinking vast sums into a rented flat with no hope of ownership. Until I remember that MPs earn a basic salary of £74,000 plus expenses. ...
Stelios Haji-Ioannou poised to block easyHotel chiefs' pay deals image
Source : Guardian [Read Article] Monday 18th of January 2016 04:40:01 PM
....Overall, easyHotel’s directors cost the company £650,000 in 2015, compared with £195,000 the previous year. They will be able to earn up to double their basic salary in 2016 thanks to a cash bonus scheme linked to profitability. ...
How should you set executive pay? image
Source : BBC [Read Article] Tuesday 5th of January 2016 08:26:06 PM
....The most popular justification for high pay has always been the need to pay a competitive rate to get the best in the business. So, most FTSE 100 companies will benchmark the basic salary of their chief executive against the basic pay of other executives within the same industry. ...
WHSmith chief's pay jumps 56% after best sales since 2002 image
Source : Guardian [Read Article] Monday 7th of December 2015 01:31:54 PM
....6m. His total pay included a £485,000 basic salary, £14,000 in benefits such as a company car allowance and a £783,000 annual cash bonus. ...
Money is best staff motivator but half of companies fail to offer bonuses image
Source : Telegraph [Read Article] Wednesday 11th of November 2015 12:03:35 PM
.... . In 2013, the Institute of Leadership & Management found that emotional factors such job enjoyment, getting along with colleagues and feeling fairly treated by managers were the most effective ways of squeezing more out of staff – although a good basic salary was still ranked as important. ...
The ultimate guide to taking advantage of pension tax relief while it lasts image
Source : Telegraph [Read Article] Wednesday 4th of November 2015 12:32:43 PM
.... This is because sources of income tested against the taper includes earnings from property, profits from other investments and savings, dividends and pension contributions from employers. With all this considered, experts say that if your basic salary is more than £100,000 you could easily be hit . ...
BHP Billiton CEO's pay drops by more than 40% image
Source : Guardian [Read Article] Wednesday 23rd of September 2015 10:31:46 AM
....BHP Billiton has cut the pay of its chairman, Jacques Nasser, to $960,000 from $1. 1m and the basic salary for non-executive directors by $10,000 to $160,000. ...
Source : Independent [Read Article] Wednesday 23rd of September 2015 04:15:00 AM
.... The group said that it expected the slow pace of growth to continue. The new chief executive will be paid £510,000 in basic salary, while Mr Darby will receive a pay-off of £543,500 in lieu of his notice period of one year. ...
Mitchells & Butlers promotes Phil Urban to chief executive image
Source : Telegraph [Read Article] Tuesday 22nd of September 2015 06:46:56 AM
.... . He will receive a basic salary of £510,000 as chief executive, while Mr Darby will receive payment of £543,500 in lieu of his one-year notice period. ...
City trader seeks £3.5m from US bank, alleging sexist behaviour drove her out image
.... She moved to London in 2006 and worked as an analyst for Lehman Brothers until the investment bank collapsed in September 2008. She then worked during 2009 at the Swedish bank Nordea before joining Jefferies in early 2010 on a basic salary of £90,000 plus a bonus. ...
Bonuses for FTSE100 bosses bear no relation to performance image
Source : Independent [Read Article] Monday 7th of September 2015 12:10:34 AM
....The annual review of top pay by the professional services firm PwC says that while a third received no pay rise this year, "almost all CEOs receive a significant bonus each year, raising questions about whether variable pay is living up to its name". For a typical chief executive, basic salary makes up just under a third of their total pay, with the rest coming from various types of bonus that are supposed to be performance related. ...
Bonuses return close to pre-recession peak on back of UK economic recovery image
Source : Guardian [Read Article] Wednesday 26th of August 2015 12:43:12 PM
....Basic pay has tended to be less important for the City than the rest of the economy, but the ONS said bonuses as a percentage of salary peaked at 34% in 2006-07 and has since dropped to 20%. In contrast, bonuses in the rest of the economy have held at 4% of basic salary. ...
RBS gives its top staff £1.8m in stock awards - but boss pledges his share to charity image
.... . By paying staff in this way, the awards do not come under European rules capping bankers’ bonuses at twice their basic salary. ...
Source : Independent [Read Article] Tuesday 11th of August 2015 12:07:32 AM
....8m in share options, a £2. 48m bonus, £825,000 in basic salary and £188,000 in pension and benefits – is more than six times what he earned a year earlier, when he was paid £3. ...
Ikea adopts the living wage for UK staff in 'massive breakthrough' image
Source : Guardian [Read Article] Sunday 19th of July 2015 11:01:07 PM
.... The living wage remains key to tackling in-work poverty in the UK”. Last month, Tesco boss Dave Lewis told campaigners that the retailer was in detailed talks with the trade union Usdaw about restructuring pay packages to increase basic salary. ...
Fears living wage could devastate small retailers and push up prices image
Source : Guardian [Read Article] Thursday 9th of July 2015 06:00:07 AM
....However, the pay increases are a victory for campaigners who have been challenging big businesses including Tesco, Sainsbury’s, Marks & Spencer, Next and Morrisons at their annual shareholder meetings over low wages. Last month, Tesco boss Dave Lewis told campaigners that the retailer was in detailed talks with the trade union Usdaw about restructuring pay packages to increase basic salary. ...
Source : Independent [Read Article] Wednesday 8th of July 2015 12:06:32 AM
.... Mr Bolland will also no doubt take some comfort from the AGM. Despite a long-term incentive plan that could pay him up to three times his basic salary, shareholders waved through the remuneration report. ...
Pay rises for bosses - and shareholder dissent - back on the agenda image
....Related: Sainsbury's and M&S under fire over executive and staff pay disparity. Sarah Wilson, the chief executive of the proxy voting agency Manifest, said: “We’ve been hearing that there are lots of companies saying their chief executives need 20 to 30% pay rises for their basic salary … That is going to go down like a lead balloon. ...
Source : Independent [Read Article] Saturday 27th of June 2015 01:18:13 AM
.... Mr Lewis can earn bonuses of more than five times his £1. 25m basic salary, but shareholders have had to swallow an axed dividend and tumbling share price since the company was sucked into a £263m accounting scandal. ...
RBS faces shareholders amid stake sell-off plans image
Source : Daily Express [Read Article] Sunday 21st of June 2015 10:18:00 PM
....Chief executive Ross McEwan decided to forgo a £1million role-based incentive, but was still paid £1. 85million for 2014, including a £1million basic salary, £143,000 in benefits, £350,000 for his pension and £358,000 from a long-term bonus award. ...
John Timpson: Sir Martin Sorrell is the Lionel Messi of the business world and deserves his £43m payday image
.... . If possible, the bonus should depend on results but I wouldn’t expect it to be more than 90pc of basic salary. ...
TfL reveals a 25% rise in £100k salaries image
Source : Independent [Read Article] Tuesday 9th of June 2015 02:04:49 PM
....It said the executive pay bill was largely a result of more staff working overtime to ensure the completion of major multi-billion pound projects. They included 91 specialist engineers and skilled project staff working on modernising the network, who earned a basic salary of less than £100,000. ...
Marks and Spencer bosses get bonuses for first time in two years image
Source : Guardian [Read Article] Thursday 4th of June 2015 11:12:15 AM
.... M&S employees will also get a cash reward, although the retailer does not disclose details of the staff bonus pot. Bolland earns a basic salary of £975,000 but at his own request has not received a pay rise since he joined the company in 2010. ...
....Royal Mail boss Moya Greene saw her pay increase by 13 per cent to £1. 52m in the last financial year as her basic salary was hiked for the first time since she joined the company in 2010. ...
Costa Coffee group Whitbread hires Alison Brittain as chief executive image
.... She will take over from Andy Harrison, who announced his retirement from full-time executive roles last month. She will be paid a basic salary of £775,000, but once benefits and performance-related bonuses are included, her package could be worth £6. ...
Tesco gives itself power to claw back senior staff bonuses image
Source : Guardian [Read Article] Thursday 21st of May 2015 03:45:58 PM
.... Neither received the payout after Tesco’s remuneration committee “determined that a satisfactory level of profit had not been achieved”. Nevertheless Lewis, who joined Tesco from Unilever in September last year, earned £810,000 in basic salary, pension and benefits for six months’ work – including £15,000 worth of security arrangements at his home – plus the £3. ...
The gender pay gap is hiding in men's bonuses image
Source : Telegraph [Read Article] Sunday 17th of May 2015 03:30:48 PM
.... . This echoes a recent Women in Financial Institutions (WiFI) report, which examined pay packages of 300,000 back-office financial services staff and found that women's bonuses add up to 16pc of their basic salary, compared to 23pc for men. ...
Ocado suffers shareholder rebellion on pay image
Source : Telegraph [Read Article] Friday 15th of May 2015 07:19:36 PM
.... . Meanwhile, the boss of the online grocer earned a basic salary of £559,000 after a 22pc pay rise last year; he also enjoyed an annual bonus of £385,000. ...
Executive pay revolts surface at RSA Insurance and Man Group image
Source : Guardian [Read Article] Friday 8th of May 2015 05:00:43 PM
....At insurer RSA, which trades under the More Than brand in the UK, around 16% of investors protested over its chief executive Stephen Hester’s £5m pay package at its annual meeting. Some institutional shareholders are known to be unhappy with the insurer’s decision to grant Hester a long-term share award worth three times his £950,000 basic salary. ...
Stephen Hester faces pay protest vote despite RSA turnaround image
Source : Guardian [Read Article] Thursday 7th of May 2015 11:59:58 AM
.... He is no stranger to pay revolts, having been through several rows over his annual bonus during his time at taxpayer-controlled RBS. In particular, some investors are annoyed at the remuneration committee’s decision to grant him a long-term share award worth three times his £950,000 basic salary in “recognition of his criticality to the transformation of the company”. ...
Jobs for the boys: City still paying women less image
Source : Telegraph [Read Article] Tuesday 5th of May 2015 01:42:49 PM
.... . Bonuses for women were also smaller, according to WiFI, with the average annual payout for women in these behind the scenes roles coming in at 16pc of their basic salary, compared with 23pc for men. ...
The Week Ahead: RSA to report first-quarter results image
Source : Independent [Read Article] Monday 4th of May 2015 10:57:15 PM
....The head of RSA Insurance, Stephen Hester, must be one of the few people in the City who dreads the arrival of bonus season. Having had to turn down lucrative pay-outs while at the state-owned Royal Bank of Scotland, he is facing a shareholder revolt at the annual meeting on Friday over a long-term share award worth three times his £950,000 basic salary. ...
Ignore the Tories: the figures show the recovery is veering off course image
.... Potts has also axed Morrisons’ water misting machines, which cleverly filled every plastic lettuce bag full of water, and abandoned a “queue management system” which allowed a computer to decide when extra tills should be opened – rather than letting staff use their eyes. He is being paid a basic salary of £850,000, plus bonuses, and so far he is playing a blinder. ...
Tally ho! More ‘exceptional’ dosh spotted for Stephen Hester image
Source : Guardian [Read Article] Sunday 3rd of May 2015 07:59:01 AM
....At RSA’s annual meeting on Friday, there looks to be a decent chance that shareholders might revolt over Hester’s pay. They are apparently irked by the remuneration committee’s decision to grant him “by exception” a long-term share award worth three times his £950,000 basic salary in “recognition of his criticality to the transformation of the company”. ...
Prudential appoints new CEO on £7.5m pay package image
Source : Guardian [Read Article] Friday 1st of May 2015 12:36:41 PM
.... Thiam will take the reins at the struggling Swiss bank Credit Suisse – Wells had been widely expected to succeed him. The new boss, who takes up the post on 1 June, will receive a basic salary of £1. ...
Commerzbank's bonus plan blocked image
Source : BBC [Read Article] Thursday 30th of April 2015 06:40:29 PM
. The German government has blocked a plan by Commerzbank to pay bonuses to its top staff worth double their basic salary. ...
Sacked Morrisons boss receives £1.1m on top of £2.1m pay image
Source : Guardian [Read Article] Monday 27th of April 2015 07:12:54 PM
....1m if he meets performance targets. Like his predecessor, he will receive a basic salary of £850,000 and could earn up to double that in an annual bonus if he meets certain objectives. ...
New British Gas boss Mark Hodges could earn up to £3.75m if he turns company's retail business around image
....Mark Hodges could earn twice his annual £625,000 salary if he outperforms in his job as managing director. He is also in line for a long-term incentive plan worth three times his basic salary. ...

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