Lean times for all as executive directors become the latest to feel the pinch in the downturn. Over 70% of FTSE 350 companies are enforcing a pay freeze for executives this year.

Added to which, Accountancy Magazine that new research by Big Four accountancy firm Deloitte has revealed that many companies are choosing to introduce bonus deferrals, and the average increase in salary is likely to be around 1.5% to 2%, significantly lower than previous years.

We’re amazed there’s an increase at all.