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13-Aug-08 11:30 [Pay and Reward]
German executive pay experiences 23% faster growth The rate of salary rise for executives in Germany's 100 biggest companies is 23 per cent higher than that of their British contemporaries represented by the FTSE 100, it has emerged.
A study taken out by Incomes Data Services which found that UK executives' German counterparts received an average 10.5 per cent salary rise last year as opposed to an 8.1 per cent rise found in Britain.
The news provider added that the 100 DAX executives on the continent last year received an average wage of £505,997 per annum, with British management getting £737,537.
Adam Elston of the IDS Compensation Review said of the trend: "European firms now benchmark pay against international peer groups in their own industries, rather than against domestic rivals.
"This is fuelling a much more rapid pay spiral."
Deutscher Aktien Index, or DAX, represents German companies including Adidas, BMW and Volkswagen.
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