Bonuses make over over a third of UK pharma directors' earnings: Piribo salary report

21 March 2005

Average pharmaceutical company executive directors in the UK receive 39% of their total remuneration package in the form of a bonus, according to Piribo, which has released a new report, entitled UK Pharmaceutical Executive Pay - Insight into Director Remuneration.

The report found that the average bonus paid to an executive director on the board of a UK pharmaceutical company is L163,000 ($311,966), while the median value is L55,000. Most bonuses are performance-orientated and dependant on pre-set targets of net income, turnover or even earnings per share before amortization.

"The bonus is the golden egg of many executives' pay packet as some executives can more than double their basic salary," said Prashant Tandon, lead analyst for the report. "But with the recent intense institutional shareholder scrutiny of top pharmaceutical executives' pay, these top dogs are under more pressure than ever to justify their earnings," he added.

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