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Executive bonuses hold up
Executive directors in FTSE 350 companies have not seen reduced bonus payouts, even though 70 per cent will not get a pay rise this year, according to a Deloitte report. More companies are now paying non-cash bonuses and are deferring portions of the bonus or placing clawback provisions. Deloitte said the typical bonus payout is now around two-thirds of the maximum bonus.
Where there have been pay increases, they have averaged 3-4 per cent, rather than 6-7 per cent as in recent years. Deloitte said about a quarter of firms are changing performance measures.