“The bonus is the golden egg of many executives’ pay packet as some executives can more than double their basic salary,” said Prashant Tandon, lead analyst for the report. “But with the recent intense institutional shareholder scrutiny of top pharmaceutical executives’ pay, these top dogs are under more pressure than ever to justify their earnings”.
The survey found that average total earnings of a pharmaceutical company executive director is £418,000. For non-executives directors, the average total earnings stood at £42,000.
UK Pharmaceutical Executive Pay - Insight into Director Remuneration details the remuneration arrangements, including salary, bonus, pension and benefits, of 342 board members of
The report highlights some other interesting findings including:
· Women are under-represented on the board of
· For an industry that thrives on research and development, only 43 percent of the companies have a Scientific Officer or R&D Director on their board compared to 88 percent of boards having a Finance Directors. Also the average pay package of the Chief Scientific Officer (CSO) is the among the lowest for all executives, at 36 percent of that paid to Chief Executive Officers (CEOs)
· There is an income divide. Nine percent of executive directors included in this report earn 35 percent of the aggregate earnings of all the firms.
- Information for this report was taken from company statements and annual reports.
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Last updated on: 27/08/2010
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