As such, conventional companies would do well to embrace the work-style, the authors note, such as sharing knowledge widely, establishing reputation systems, and creating a community in which people work for peer recognition as much as remuneration.
The European Union agreed to new rules last year that require European banks to defer 40 to 60 percent of top bankers' bonuses for three to five years and pay as much as 80 percent of their remuneration in equity rather than cash.
For the more technically inclined, a move into the lucrative field of patent law, in which the remuneration can be as much as SGD$90,000 per annum, could prove to be the best career decision now.
Pirc, which advised shareholders to vote against the company's remuneration policy, had cautioned that executive directors' incentive schemes were "excessive" as potential payouts could be as much as eight times base salary.
The pay package awarded to Lewis by Tesco's remuneration committee, which is headed by the former Barclays executive Deanna Oppenheimer, was branded excessive by PIRC, which says his annual and long-term bonuses could be worth as much as five times his £1.25m salary this year.
Pearson has given Dame Majorie Scardino a painting worth as much as £100,000 to mark her retirement from the publisher of the Financial Times, along with more than £6m she received in remuneration in her final year as chief executive.
(Interview: participant 5) However, as much as higher salaries have motivated histopathologists to move to the private sector, the interview data revealed that the difference between remuneration in the sectors is not that big.
As the pay gap widens – chief executives in the UK took 60 times as much as the average worker in the 1990s and 180 times as much today – the uselessness ratio is going through the roof I propose a name for this phenomenon: klepto-remuneration.
If two people are doing the same task and earning the same basic remuneration on average earnings, the total tax paid to the state for the employee is about £2,000 a year more than for a self-employed contractor, or as much as £3,000 if they are working through their own company.
