What is the going rate for a FTSE 100 chief executive today?
Angela Ahrendts, chief executive of Burberry, the luxury goods company, has again been in the firing line about her compensation. The furore follows an announcement that the company has offered her 500,000 shares – worth about £7.3m ($11.7m) at the current share price – if she remains in her post until 2016.
It is MBA season, the time of year when graduates move back into the business world, hoping their hard work will propel them effortlessly to the top.
Here is a theory. The birth of a daughter will do more to increase the diversity of her chief executive father’s company than any number of research findings or government directives.
Last week, the share price of Burberry, the luxury fashion company, scored a record high, and the company’s market capitalisation exceeded £5bn ($8.3bn), earning Angela Ahrendts, its chief executive, a maximum bonus of £1.8m.
While few could deny Ahrendts is doing a great job – albeit in the super-hot luxury sector, which is tipped this year to achieve double-digit growth – there are still murmurings about compensation.
In a widely read Wall Street Journal blog post, Carrie Lukas, executive director of the Independent Women’s Forum, a radical right-wing US lobby group, argues there is no longer a wage gap between men and women.
Odgers Berndtson, the executive recruitment company, today publishes the results of a survey of more than 100 senior women working in financial services in the City of London.
There was a time when doctors were men and nurses were women. In People at Work, the 1960s Ladybird book series, the nurse was female, and the carmakers, the policeman and the miner male. We can smile at the gender stereotypes from our 21st-century vantage point, but how far have we moved in reality?
Given that women are as likely to be born to wealth as men, and that women in the US are paid 78 per cent, on average, of what men earn, you might think that the wealth gap between men and women would be relatively modest and closing, at least in the west. You would be wrong.
The Office for National Statistics reports the gender pay gap is at its narrowest since figures were first collected in 1997.