Euro dotcom top brass get 60% pay rise
To make up for the share options
The chief execs of dotcom businesses have received a nice fat 60 per cent pay rise in the last 12 months. The average pay packet is now £170,000.
According to a survey by IT recruitment group Futurestep, the dotcom top brass have also bagged twice the number of share options previously held. The huge pay increase and the extra shares are to make up for the collapsing value of their share options.
The size of the pay packet means the average dotcom exec earns just 10 per cent less than their old economy counterpart. And as a result of the high tech share crash there's basically no difference in the earnings between Net biz bosses and trad company execs.
The survey quizzed more than 2,000 senior dotcom executives in nine European countries and interestingly Britains net executives earn the most wonga. ®