BOSSES at the UK’s biggest companies have already earned more money in the few days of 2022 we have already had than the average person in Bolton will make all year.

The High Pay Centre, a think tank which analyses the UK’s highest incomes, has estimated the average pay of CEOs in the FTSE 100 at around £2.7m in 2020.

This compares to an average Bolton full-time worker’s salary of just under £27k, which is a sum the CEOs had made in just their third working day of the year. It would Bolton’s average earner 100 years to earn the same as the average fat cat earns in just one.

The picture is bleaker for women, with an average full-time working woman earning just £24,823. It would take a FTSE 100 boss a mere 30 hours to earn their whole salary.

The High Pay Centre has noted some of the country’s lowest paid work has been some of the most important during the Covid-19 pandemic.

High Pay Centre director Luke Hildyard said: “Covid-19 has shown how much we all depend on each other. Some of the lowest-paying jobs have played the most important role to keep society functioning through the pandemic.

“With the value of the UK economy reduced, there’s also greater pressure to share what we do have more evenly.

“In this context, vast CEO to worker pay differences may be harder to justify.”

Danny Magill, senior research officer at the Equality Trust, added: “In a year where this country has faced unprecedented economic challenges, most CEOs pay packages barely changed, showing how detached high earning CEOs’ have become from the realities of ordinary working people.

“While the taxpayer supported large companies, it was essential workers that kept the economy afloat throughout the pandemic, often for low wages, with no sick pay and at great personal risk.”