Paul Homewood takes a look at the annual report of the Royal Society and finds that wage inflation among its top earners has been quite startling.
Assuming salaries fall in the middle of each band, the total salary cost for 10 [senior] employees currently listed would be £920,000, an average of £92,000. This, of course, does not include social security or pension costs, which would typically add a further 25%. I have added the comparative numbers from 2005, and the difference is, quite frankly, astonishing. With inflation, it would be expected that a couple of staff might have crept over from the £50,000 band – though it should be added that since the 2008 recession most private sector employees have not any wage rises at all. But an increase in the numbers from 3 to 10 suggests that the gravy train has well and truly arrived at Carlton House Terrace.
Equally astonishing is the fact that 4 employees now earn over £90,000 pa, compared to just one in 2005.