Executive Pay Below the Board

Public disclosure of directors’ pay in the UK has fuelled extensive analysis and debate on executive remuneration.

Meanwhile, pay below the board in UK-listed companies is generally not visible and, therefore, not much discussed.

Towers Watson’s research provides helpful insight into executive pay practice below board level. For example, it shows that many companies are no longer cascading board-level long-term incentive arrangements to the rest of the management group. Instead, they are differentiating policy arrangements and making adaptations, for example, to vesting conditions.

Towers Watson’s breakfast briefing will look at:

• The extent to which UK-listed companies are differentiating between their remuneration arrangements for executive directors and for those below the Board
• Which elements of pay are cascaded and which are differentiated
• Those aspects of design which differ above and below the Board
• The implications of differentiating versus cascading board-level arrangements