Savills board directors earned £2.275m in salaries and bonuses in the eight months to December, but the annualised total was down on the previous financial year to April 2000.
As a result of the change in year-end from April to December, the Savills report and accounts released this week shows salary and bonus figures for board directors for an eight-month period. In the year to April 2000, the board earned a total of £3.65m, with two directors, Justin Roberts (pictured) and Simon Hope pulling in more than £750,000. Annualising the eight months’ earnings gives an estimated total of just over £3m, showing the bonus payments to have been less generous than in the previous financial year
For the eight months to December, head of investment Hope earned a total of £357,815, compared with £770,026 for the year to April – more than twice as much. However, fellow director Jeremy Helsby earned a bigger bonus in the eight-month period than in the previous financial year: £238,000, compared with £222,000.
Savills has a policy of paying high bonuses and staff in the UK receive bonuses related to the profitability of their department, weighted for individual performance. UP to 58% of a team’s profits can be paid out as bonuses.
EGi News 27/03/01
