Public sector employees paid more: Management Today survey |
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Tue, 30 Aug 2005 06:05
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LONDON: A recent survey by the magazine ‘Management Today’ has come up with a list of what they call “public sector fat cats”. This new breed of top executives in taxpayer-funded organisations appears to be getting richer as the sector becomes more commercial to cope with globalisation.
The magazine’s list puts Adam Crozier, chief executive of Royal Mail at the top with earnings very near to £2 million. Crozier is followed by John Armitt of Network rail with his £1 million expected pay.
The government ‘generosity’ extends to frontline staff who also take home more than their counterparts in private firms. Rising salaries of public sector workers is part of New Labour’s mission to overhaul public services. The report said that despite being paid more than employees in private firms, government staff enjoyed more time off.
The report also points out that on one government website there were as many as 18 vacancies offering salaries of over £100,000 a year.
In the corporate sector, UK top bosses were found to be earning less than German chief executives who took home £100,000 more each year. US corporate bosses continue to be the best-paid among the world. The chief executives of private firms in the US had an average salary of £1.4 million a year.
Among British corporate sector’s top bosses is Lord Browne of BP whose annual earnings of £8 million make him the best-paid in the UK.
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