All entries for Tuesday 03 October 2006

October 03, 2006

Ageism and Director's Pay

Two of the editorials in the guardian yesterday seemed appropriate, given the second topic in the newsletter.

First, for obvious reasons, the editorial on ageism: typically you may say, for the guardian, they say they don’t go far enough. They make some interesting points though.

Secondly, they made a big hoo-ha about director’s pay yesterday. And it struck me that it’s no good arguing for fairness in the employment market, without addressing this key issue. Averaging 28%, the increase in directors pay is farcical (inflation is at 2.5%, average earnings at 3.7%). Success in the boardroom deserves reward, but when these massive gains are seen of what some see as failing companies, how long can this go on? As the Guardian says:

There is a morality to the principle that work should bring a fair but not excessive reward: but it is a principle that Britain’s elite appear happy to apply to everyone apart from themselves

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