Finance director wages and turnover are rising

18 December 2009 In Accountancy

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Finance director wages and turnover are rising The turnover of finance directors (FD) of the largest listed companies in the UK is rising, research from the Reward Technology Forum (RTF) has shown.

Those who remained in the same company for the 2008-2009 financial year was down 16 per cent on the year before.

Co-founder of the forum Peter Newhouse puts the high turnover down to a greater demand for financial skills due to the recent difficulties the economy has experienced.

"These are turbulent times for the FTSE 100 and good finance directors, the ones with mobile skills across industries, are in demand," he said.

Salaries received have also risen as the average wage for FTSE 100 FDs rose 3.8 per cent to £475,602. However this could be due to share incentive awards being cashed in, the Financial Times reported.

In contrast to an increase in salaries, the average value of FDs' bonuses, pension packages and benefits decreased by over 16 per cent.

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