Retail sales may be at their lowest for three years, but the industry’s top executives are, as yet, no lighter in the wallet for it. Quite the opposite, in fact. During the past financial year, pay rises continued to outstrip inflation as salaries and bonuses rocketed.
In the annual Retail Week salary survey, run this year in conjunction with executive recruitment agency Green Park, the number of respondents earning a basic between£150,000 and£199,000 rose from 19 per cent last year to 27 per cent. And, perhaps even more significantly, the trend for awarding large bonuses continued. Nearly a quarter of respondents received a lump sum between 21 and 40 per cent of their salary.