House prices fall at fastest pace in nearly 14 years

[papasmurf]

I think you're somewhat exaggerating the actual pay ratios across UK businesses https://www.financialfairness.org.uk/en/media-centre/media-centre-news-article/pay-ratios-2022 which suggests 50:1 CEO:median employee ratios.

Puzzled by that link:-


CEO pay report 2022 (highpaycentre.org)

August 2022
The median FTSE 100 CEO took home £3.41 million in 2021. This is the highest level of median CEO pay since 2018, and is an increase of 39% on the median FTSE 100 CEO pay in 2020, which stood at £2.46 million. The median FTSE 100 CEO pay of £3.41 million is 109 times the median earnings of a UK full-time worker in 2021 (£31,285) [1]. This represents an increase from 79:1 last year and has widened beyond the gap of 107:1 in 2019. Mean FTSE 100 CEO pay was likewise higher than the previous year, at £4.26 million, up from £3.4 million in 2020. The highest paid FTSE 100 CEO received a total of £16.85 million, at Endeavour. This is 539 times the pay of the median UK full-time worker. 90% of FTSE 100 companies paid their CEO a bonus in 2021, compared to just 64% in 2020 and 89% in 2019. The mean bonus payment increased from £828k in 2020 to £1,431k in 2021. 77% of FTSE 100 companies paid their CEO a payment as part of a Long Term Incentive Plan (LTIP), the same as in 2020. The mean LTIP payment increased from £1,379k in 2020 to £1,610k in 2021. The median total spend on executive pay (including the CEOs and other executives) for FTSE 100 companies was £6.3 million. There were 9 female FTSE 100 CEOs in 2021, up from 7 in 2020. Excluding Harbour and Entain's female CEOs, who were appointed midway through the financial year, the median pay of the remaining 7 female CEOs, who were in role for the duration of the 2021 financial year, was £3.01 million. This is below the median pay of male FTSE 100 CEOs at £3.49 million. The median FTSE 250 CEO was paid £1.72 million in 2021, a 38% increase on the 2020 figure of £1.25 million. The median FTSE 250 CEO is paid 55 times the median UK worker. This is a significant increase from 40:1 in 2020.

[Unlucky4Sum]

Im not talking about low wages for anyone just a balanced payroll from top to bottom . I read a while back that very few companies CEO's earnt more than 10 times what they were paying their workers 30 years ago .(and there were far less people on social security or whatever it was called ) Today that figure is nearer 100 times what they pay the workers with all the minimum wage on the benefits wagon which we know , as soon as they are on it they don't want to get off .

For me its not a viable business if you are relying on the taxpayer to pay your workers wages . you deserve to fail

I think you're somewhat exaggerating the actual pay ratios across UK businesses https://www.financialfairness.org.uk/en/media-centre/media-centre-news-article/pay-ratios-2022 which suggests 50:1 CEO:median employee ratios.

Do I wish we had lower ratios?  Yes but IMHO the obvious ways touted to get those would cause far more damage.

Would Manchester City have won the double if they lowered their top to bottom salary ratios?  No, they'd have failed.  

Did the Co-Op bank fail because they thought employing a CEO on modest wages for their industry was clever?  In no small part yes


We screw something like £90B a year in NI out of employers just for serving society by employing people, don't think we are 'relying on the taxpayer to pay your workers wages'  more the opposite.

[papasmurf]

Yes Im referring to one man band self employed . Maybe normal work practices haven't reached the principality yet but Im getting a contract signed before I start work .

Sorry but a contract for one days work is not going to happen.

[Streetwalker]

Contracts, I think we are at cross purposes. I am referring to one man band self employed. There are no contracts.

Yes Im referring to one man band self employed . Maybe normal work practices haven't reached the principality yet but Im getting a contract signed before I start work .

Back to house prices I was hearing  over the weekend about 35/50  year flexible mortgages which sound like good news for first time buyers . Keeps the cost down intially and gives the homeowner control over paying more in when they can which they should be able to do with increase in salary as they get older along with possible lump sums from inheritence ect . As always though homebuyers are relying on prices remaining on an upward curve , falling prices are bad news for everyone .

[papasmurf]

Ive done a few small 1/2 day jobs for cash where I suppose people could with hold payment ,not that they ever have but anything bigger than that comes with a standard contract of services to be provided,works to be carried out  and payment stages .(first payment should cover materials at least )

Your pals need to get contracts sorted which would aviod trips to the free food warehouse .

Contracts, I think we are at cross purposes. I am referring to one man band self employed. There are no contracts. 

[Streetwalker]

I don't know about nationally but locally there are self-employed people being referred to food banks because of people either not paying them for the work they have done or taking  a long time to pay.

Ive done a few small 1/2 day jobs for cash where I suppose people could with hold payment ,not that they ever have but anything bigger than that comes with a standard contract of services to be provided,works to be carried out  and payment stages .(first payment should cover materials at least ) 

Your pals need to get contracts sorted which would aviod trips to the free food warehouse . 

[papasmurf]

Being self unemployed none  of this has ever really effected me , but yes when times are tuff you just get stuck in and do a bit more but then nobody  is earning off my labour but me .

I don't know about nationally but locally there are self-employed people being referred to food banks because of people either not paying them for the work they have done or taking  a long time to pay.

[Streetwalker]

Do you think female footballers should get the same as men? I'm guessing the answer is no: that's cause they produce less revenue. Salaries are based on revenue and if one particular company is a bad payer they will lose their staff to a better payer, this is market forces. If the whole sector is paying minimum wage then it's a low paying industry, basic economics. If you want more money you have 3 choices: work more hours, get 2 jobs or retrain and get a better paid job. None of those options are out of reach of anyone, Steve SRB said he had mental issues that meant he couldn't work more hours but he then complained that he needed more money. How would working an extra hour a day impact your mental health more than not being able to pay your bills?

Ive no argument with sectors paying minimum wage , as you say basic economics . Salaries based on revenue though only seem to reflect the wages of  managment and above . Workers wages have stagnated for many years and is why we are now seeing unionised industries striking .

A extreme example of what Im trying to put across can be seen with Amazon . Wages in the warehouse around £12 an hour which I guess puts them on top up benefits yet the top man Jeff Bezos rakes in around £8 million an hour from the business . All Im saying is he could take a little less and pay his workers a little more which means the taxpayer isnt propping up his business or indeed contributing to  him being the richest man in the world .

Being self unemployed none  of this has ever really effected me , but yes when times are tuff you just get stuck in and do a bit more but then nobody  is earning off my labour but me .

[Streetwalker]

In general I don't, there may be one or two cases where a position is being unfairly/illegally manipulated but in general if you pay low wages for CEOs and their teams you should expect the company to fail.

Im not talking about low wages for anyone just a balanced payroll from top to bottom . I read a while back that very few companies CEO's earnt more than 10 times what they were paying their workers 30 years ago .(and there were far less people on social security or whatever it was called ) Today that figure is nearer 100 times what they pay the workers with all the minimum wage on the benefits wagon which we know , as soon as they are on it they don't want to get off .

For me its not a viable business if you are relying on the taxpayer to pay your workers wages . you deserve to fail

[Unlucky4Sum]

 . . .On the other hand don't you think the wage divide between the top and bottom of some companies has grown too large ?  . . .

In general I don't, there may be one or two cases where a position is being unfairly/illegally manipulated but in general if you pay low wages for CEOs and their teams you should expect the company to fail.

[Nick]

In some respects I agree . On the other hand don't you think the wage divide between the top and bottom of some companies has grown too large ?  It does give me the hump when I hear people talking about how 'well they have done for themselves' with their big houses and Villas in the med when they are paying minimum wages topped up by Mr averages taxes .

Do you think female footballers should get the same as men? I'm guessing the answer is no: that's cause they produce less revenue. Salaries are based on revenue and if one particular company is a bad payer they will lose their staff to a better payer, this is market forces. If the whole sector is paying minimum wage then it's a low paying industry, basic economics. If you want more money you have 3 choices: work more hours, get 2 jobs or retrain and get a better paid job. None of those options are out of reach of anyone, Steve SRB said he had mental issues that meant he couldn't work more hours but he then complained that he needed more money. How would working an extra hour a day impact your mental health more than not being able to pay your bills?

[papasmurf]

In some respects I agree . On the other hand don't you think the wage divide between the top and bottom of some companies has grown too large ?  It does give me the hump when I hear people talking about how 'well they have done for themselves' with their big houses and Villas in the med when they are paying minimum wages topped up by Mr averages taxes .

Locally loads of workers wanted by hospitality and tourism. Just one problem they are paying at or just about the minimum wage and the only housing available for rent is £800-£1200 a month. So there are no workers available.

[Streetwalker]

Get a second job or work harder. It's very simple!!

In some respects I agree . On the other hand don't you think the wage divide between the top and bottom of some companies has grown too large ?  It does give me the hump when I hear people talking about how 'well they have done for themselves' with their big houses and Villas in the med when they are paying minimum wages topped up by Mr averages taxes .

[papasmurf]

You won't even acknowledge that there is a single person who is playing the system, at least U4S acknowledges that there is.

I have NEVER stated no-one is "playing," the system but I do not due to lies and propaganda think there a millions as you and others do.
Frankly since May 2010 the Tory Government has been responsible for more deaths of claimants than Covid.

[Nick]

Nick will never understand that.

You won't even acknowledge that there is a single person who is playing the system, at least U4S acknowledges that there is.