News
11 Jun 2015 04:15pm

Grant Thornton boss caps pay

Sacha Romanovitch, the new CEO of Grant Thornton, has announced she will be capping her pay as part of the firm’s inroads to becoming a shared enterprise

Romanovitch, who took the firm’s top job earlier this month, told London’s Evening Standard that she would be capping her pay to no more than 20 times greater than the average salary at Grant Thornton.

It means that her pay check will be considerably less than most other city bosses; across FTSE 100 firms, the average ratio is 149 times.

Similarly, all of Grant Thornton’s 4,500 staff members will see a share of the firm’s profits as part of the shared enterprise system. The idea is modelled on a similar idea successfully run by other businesses such as John Lewis.

“The benchmark that we are working to is that in great organisations that do this, it ends up being between 10% and 25% of a person’s salary,” Romanovitch told the paper.

“That is what they can potentially earn as a profit share. John Lewis does it, Arup [the engineering firm] is the other one that does it really well.”

Oliver Griffin

 

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