Pay soars for FTSE-100 bosses

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For the first time the salaries, bonuses and benefits paid to FTSE-100 company executives topped £1 billion, according to the study, which will be published in a newspaper.

The increase in executive pay was over 11 times the rise in average earnings, and takes the ratio between bosses' and employees' pay to 98:1.

It is the largest hike in recent years, following annual increases of 28% the previous year and 16% a year before that.

The top-paid executive was Bob Diamond, head of the investment banking arm of Barclays Bank, who earned £23m.

Although his basic salary was only £250,000, he was also awarded a performance bonus of more than £10m and over £12 million in share awards.

The highest paid woman was again Dame Marjorie Scardino, chief executive of Pearson, publisher of the Financial Times. The only other FTSE-100 female executive was Dorothy Thompson, of the Drax power station company, and both women earned less than their male peers.

A total of 249 directors received salaries, bonuses and benefits totalling more than £1 million, or nearly £200,000 a week.

Some 81 received annual bonuses of over £1m and 11 had basic salaries of more than £1m. The survey also reveals that part-time chairmen of top companies - who in general work no more than two days a week - now earn an average of £311,000, up 15% on the previous year.

News of directors' soaring pay packets comes after the Guardian reported that City bonuses have increased by almost a third this year, taking them to a record £14 billion.