Bad managers on brilliant pay: that’s why the UK’s not working | Phillip Inman

Productivity is much lower than in comparable countries, yet bosses just award themselves millions - and hire consultants

Banker bonuses are on the rise again. NatWest, HSBC, Lloyds and Barclays have in the past fortnight reported shelling out millions of pounds to bosses and assorted directors as a reward for their exceptional efforts. Almost 20m was doled out between the four chief executives.

A glance at the FTSE 100 shows that all chief executives seem to believe they are exceptional: the data shows their pay and bonus packages averaging a whopping 3.4m each, or 103 times the 33,000 average salary for full-time UK workers.