FTSE bosses are in for the long haul on pay

CHIEF executives at the UK’s largest listed companies stay in their roles for longer than was previously thought and do not move to seek higher wages, research will claim today.

Just 51 chief executives at FTSE 350 companies moved to their jobs from other chief executive positions in the past five years according to Southampton University, while the average length of service was 6.4 years in the FTSE 350 and 5.9 in the FTSE 100.

Previous reports had suggested an average FTSE 100 figure of just 3.3 years.

Professor Malcolm Higgs, head of the Southampton Management School, said: “In these financially turbulent times, with pay and bonuses in the spotlight, we should ask ourselves if high levels of remuneration are really keeping people in post, or if the impetus to move isn’t as strong as perceived.”