In a time of rising bills and when many people are struggling with living costs, high executive pay, whilst never justifiable, now seems even more immoral.
The figures reflect total compensation for the highest paid director, which may be made up of a base salary, a bonus, variable pay (based on employee performance), and shares. The base salary and bonuses are usually the smallest amounts. For example, JP Morgan’s CEO had a base salary of $1.5 million, a bonus of $5 million, shares worth $25 million, and $52 million in option awards (option to buy shares in the future at a set price).
Companies awarding pay of £1 million or over lose a whole mark in the AntiSocial Finance category on our score tables in our ethical finance guides.
Two giant US banks that we have rated for the first time – JP Morgan and Goldman Sachs – pay their directors stratospheric amounts, way beyond excessive. Perhaps unsurprisingly, they also have the highest investments in dodgy, but lucrative, areas, namely nuclear weapons and cluster munitions, fossil fuels, deforestation, and animal cruelty.
Since 2021, those who pay £250,000 – £1 million lose a half mark on our score tables. Companies that fall into this category are mainly the building societies, although Nationwide and Skipton pay more.
Those that pay below £250,000 are not marked down in our ratings but details appear in the table below. Only five companies fell into this category: Revolut, Charity Bank, Principality, NS&I, and Ecology Building Society.