U.S. CEOs Said to Earn More Than British

U.S. chief executives earn between twice and four times as much as British ones, a report to be released today. The Boardroom Remuneration Guide said British firms are keeping a tight rein on pay raises among top executives, unless they are justified by improved performance, and that main board directors have shorter contracts than their U.S. equivalents. The report, by Hay Management Consultants in London, said that although there is comparatively little difference between the base salaries of CEOs between the U.S. and Britain, bonuses and long-term incentives lead to a huge contrast in terms of total pay. This year, U.S. chief executives on average received bonuses and long-term incentives of 97% and 165%, respectively, of base salary, bringing the total compensation package to $2.46 million, said the guide, which surveyed 7,582 executive directors in 356 companies. British CEOs received bonuses and long-term incentives of 29% and 49% respectively of base salary, bringing their total compensation package to half that of their U.S. counterparts.