Mercer’s 2023 UK Board Remuneration Handbook covers the latest FTSE 350 board remuneration practices and trends.

As the major effects of the pandemic begin to abate, 2022 was a return to a more ‘steady-state’. However, after a long period of low inflation and pay moderation, higher inflation led to higher UK executive salary increases. These were between 3% and 5%, although generally these remained below the level of the workforce.