None of the companies implementing pay cuts has tackled a long-term incentive scheme. FMTNews
LONDON: Pay cuts taken by British bosses during the pandemic will have little effect on the “bonus culture” causing wide inequalities within companies, according to a study published on Wednesday.
But these measures are “superficial or short-term” and do not change the “bonus culture” which allows big bosses to earn huge sums in the variable part of their remuneration, they added. “Pay among the FTSE 100 will probably fall next year, but this is more likely to be due to wider economic circumstances rather than a fundamental change in approach,” he added.
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