Dax corporations: Post-chief earns 232 times as much as his employees

Adidas, Daimler or the Swiss post: the directors of German DAX companies are earning more and more than their employees according to a study. On average they get the 71-fold.

Dax corporations: Post-chief earns 232 times as much as his employees

The gap between management board remuneration and employee income in 30 German DAX groups has grown significantly over past year. According to calculations by Union-related Hans-Böckler Foundation, a DAX executive board earned 2017 on average 71 times as much as employees of his company. 2014 it was thus still 57-fold.

According to study, Presidents of Board of Management have even earned 97-fold in past year. With 232-fold income, Postchef Frank Appel led ranking of group chiefs, followed by Chairman of Board of Management of Heidelberg Cement, Adidas, Daimler and SAP. The final light is Commerzbank: Top managers Martin Zielke got 25 times.

Depending on Dax company, salary gaps between boards and employees were very different. They ranged from 20 times at Commerzbank to 159 times at Deutsche Post.

Salary gap grew by 70 percent in twelve years

The Institute for Co-determination and management of Hans-Böckler-Stiftung calculated so-called manager-to-worker-pay-ratio for fifth time since 2005. In twelve years to 2017, salary gap between top managers and an average employee has thus grown by around 70 percent. In 2005, a board member of DAX had an average of 42 times as much as a worker.

German companies do not have to specify how relationship between Executive board remuneration and average earnings in company is eliminated. The authors of study call on federal government to ensure greater transparency with forthcoming implementation of EU shareholder directive in German law. This is important in terms of sense of justice and motivation of workforce.

Date Of Update: 06 July 2018, 12:02

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