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City fat cats have already earned more money in 2015 than most will all year

Evan BartlettJan 06, 2015 Chief executives of FTSE 100 companies will have already earned more money by the end of Tuesday than the average worker will earn in a year. With an average salary of £4.72 million, assuming the average exec started working for the year on Monday morning, they will have earned more than the national average wage of £27,200 at some point on Tuesday afternoon. The High Pay Centre thinktank, which came up with the figures, is therefore dubbing today 'Fat Cat Tuesday'. It explains that even working with the assumption that the 'fat cats' "work 12 hours a day, including three out of every four weekends, and take less than 10 days holiday per year, this still works out at about £1,200 per hour" and therefore will they only need to complete 22 hours of work in order to surpass the national annual average. The rate with which FTSE execs have surpassed the national annual average wage has also increased from last year - when they had to wait until Wednesday in the equivalent week. For the masochists out there, you can even compare your own salary with that of the average FTSE chief executive using the High Pay Centre's pay calculator. More: 'Panic Saturday' highlights the shameful inequality of our nation More: Women - From today until January you are working for freeKeep reading...Show less

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