Company secretaries hit £300,000 mark

The CSS Market Survey released last week reveals that company secretaries have enjoyed an average salary rise of 15 per cent since October 2000. The rise is evenly spread across all categories of organisation, from major listed companies to private groups, including professional services firms.
The survey found that within the top FTSE companies, salaries are predominantly into six figures, with packages adding substantially to total remuneration.
In the FTSE 100, the salary band ranges from £100,000 to £193,000, with a total average package value of £250,000. Where the company secretary holds a dual role, either as head of legal or finance director, remuneration levels tend to be significantly higher, with the top overall pay touching £300,000.
The report states: "The shake-up of the FTSE classification index and the notable increase in the number of companies that delisted during the course of the year has led to a number of apparent salary anomalies."
The report also found that a number of private groups and unquoted plcs appointed their first-ever company secretary with a view to listing on the Stock Exchange. Those organisations often offer salaries that are more in line with the company's anticipated FTSE ranking post-initial public offering.
In professional services firms, a company secretarial manager earns an average of £46,000. The report says: "The generous study packages offered by most firms still make the professional services arena the preferred training ground for graduates."