Oct. 16 (Bloomberg) -- The median salary increase for executive directors at Britain’s 250 largest medium-sized companies rose 3 percent this year, the same as last year, according to auditors Deloitte.
About 30 percent of companies gave no increase, in line with 2011, while a further 46 percent gave increases of less than 5 percent, compared with 41 percent last year, Deloitte said today in a report on remuneration.
“There are some positive trends emerging,” Mitul Shah, partner in the remuneration team at Deloitte, wrote in an e-mailed statement. “Salary increases are slightly lower than last year and bonus payouts are less. We have seen significantly smaller payouts from long term plans in the last two years than previous years. Our research suggests that the link between pay and performance in FTSE 250 companies is improving.”
More than half of finance and property companies have awarded no salary increases in 2012 compared with 24 percent of industrial and manufacturing companies and 19 percent of retail and service companies, Deloitte said.
In 2011, 45 percent of finance and property companies gave no salary increase to executive directors, according to Deloitte. For 2012, the median increase in finance and property companies is zero, compared with 3.5 percent in industrial and manufacturing companies and 2.5 percent in retail and service companies.
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