HAVE FAT CATS SHAFTED GRADUATES TO PROTECT THEIR OWN PAY PACKETS?
Bosses’ claims that they can’t afford to hire many new graduates this year are being scrutinized – as new figures show that executives have enjoyed massive increases in their own salaries in the last 10 years.
A new report from the High Pay Commission shows that the average FTSE 350 executive’s pay has ballooned 700% since 2002. Meanwhile, the average worker’s pay has crept up by just 27% in the same period.
This means that job that paid £100,000 in 2002 now pays £700,000 – while a job that paid £20,000 in 2002 pays only £25,400 today.
While these companies are unlikely to use unpaid interns, they are likely to have cut their graduate recruitment budget since the recession, giving the impression that they are struggling financially – and have been forced to cut junior roles as desperate measure to save money.
But is the real reason for these companies’ stinginess more obvious? Are the fat cats simply keeping all the cash for themselves?
*Are company bosses lining their own pockets?
Do you believe that graduate recruitment has been cut out of necessity – or could companies make savings elsewhere? Are graduates an easy target for cuts, when a company wants to protect its profits – and its executive pay?