Or so it would seem, from the news today that boardroom pay for the UK’s top companies has risen almost 50% over the past year, at a time when those collecting those rewards have been slimming down their companies and telling the shop floor workforce that they’ll have to work longer hours for lower pay.
I was going to look at whether, and to what extent, the performance of the companies is actually down to the performance of the directors in any event, but Chris Dillow has already done that job much better than I could.
Whilst there are always some exceptional individuals around, most of those in boardrooms probably got there by a combination of accident and luck – being in the right place at the right time is one of the key factors. They wouldn’t agree with that assessment of course; they all have sufficient self-belief to be convinced that they’re all so exceptionally talented as to deserve whatever they can get.
The real questions are why so many others seem to believe that as well; and why we let them get away with it.