Steve Tatton
speaker
22 appearances
1 recordings
1 series
first heard Jan 2012
last heard Jan 2012
Steve Tatton’s voice in public audio — every appearance, attributed to the second.
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Appearances
In that order.
What we do, we take a matched group of directors of the FTSE 100, that is directors who have been full-time in post for two years, so we can compare how much they earned in year one compared with how much they earned in year two.
And that group of directors are all paid in sterling, so we exclude...
anybody paid in foreign currency.
We also actually exclude directors who've been promoted in the year because they might actually get a large increase just for their extra responsibilities.
So we try to make sure we're measuring like for like.
We then add up all the components of each individual director, how much they received in each of these two years.
That could be salary, benefits, bonus, and share-based awards, which they've actually earned during the year.
And then we compare how much Director A, for instance, received in year one and compare how much that same director at the same company earned in year two and work out the increase in their total earnings during that two-year period.
We then take all the directors and work out the average figure of that group.
Well, the median is equally a distortion of the figures.
The question that people have to think about, is it not important that, say, a director got a 500% increase, and shall we therefore ignore it by concentrating on the median, and therefore the average is a valid figure?
I'm not quite sure what to say.
I mean, the numbers are just the numbers.
We published them and it came out in a press release.
That's correct.
And when you're trying to communicate to the wider audience, it is the case that most people don't necessarily quite understand what the figures are telling you.
And the thing about a mean average is that that's what most people think by an average, and it's often the one.
People most understand, and that's probably the reason why the average was highlighted.
And those are tonight's lottery numbers.
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