MANY executives in Britain’s biggest companies will get no increases in their annual bonuses in 2013, partly due to the success of last year’s “shareholder spring” of remuneration activism, a new survey out today forecasts.
Some bonuses could even be cut by a quarter, according to the report, by accountancy firm PwC.
Fewer than 10 per cent of FTSE 100 respondents say they are expecting material rises to bonuses, while nearly half expect bonus payouts to be the same and 21 per cent think they will be at least 10 per cent lower.
A total of 17 per cent said that they expected bonuses to fall by more than a quarter.
Erika Campbell, human resources director at PwC in Scotland, said: “Calls from shareholders for pay and bonus restraint appear to have hit home, with many in the FTSE 100 expected to deliver a second successive year of bonus reductions.”
She said it was clear that big companies and remuneration committees were “conscious of demonstrating a responsible approach to executive pay”.