Business

According to a study, supermarket bosses earn the salary of a factory worker in less than ONE DAY

A shocking report by the High Pay Center found that the average supermarket CEO earns the annual salary of a minimum-wage factory worker in just 23 hours and 15 minutes

Shoppers in an Aldi supermarket
There is a huge discrepancy between the incomes of supermarket bigwigs and store staff

Supermarket funds earn the annual salary of the average store worker in less than 24 hours, a recent study shows.

Latest figures show chefs being paid nearly £750 an hour, with huge sums from Morrisons (£4.2m), Tesco (£2.6m), Sainsbury’s (£2.3m) and M&S (£1.06m pounds) were paid.

The study showed a “strong” disparity with an hourly minimum wage of £8.91 taking home £17,374.50 a year for a 62.5 hour week.

Controversy arose last year when Morrisons boss David Potts’ salary included a £1.7million bonus despite a drop in profits.

Ocado CEO Tim Steiner earned £6.9million in the previous 2020/21 period.







Sainsbury’s has been found to pay his boss an annual salary of £2.3million
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Image:

PA)

He was reportedly paid £58million in 2019 as a result of a bonus scheme.

It could pay out £100m over five years if shares continue to rise.

It is estimated that over 350,000 supermarket workers earn less than the Real Living Wage of £9.90.







Morrisons has also been found to have paid out huge sums to their bosses
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(Getty Images)

Around 9,000 businesses are paying it, but no supermarket is accredited by the Living Wage Foundation, which has urged bosses to pay more.

Andrew Speke of the High Pay Center, which compiled the report, said the store’s employees have risked their health during the pandemic.

He added, “It’s time these corporate boards prioritized better wages and working conditions for workers.”

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https://www.mirror.co.uk/money/supermarket-bosses-earn-shop-floor-26400322 According to a study, supermarket bosses earn the salary of a factory worker in less than ONE DAY

Fry Electronics Team

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