In a not-so-surprising revelation, it has been discovered that the average CEO in the UK is a white male, aged 55, who received a private education and studied Economics at Cambridge University, and earns a whopping £4,196,000 per year. This information has been obtained from the FTSE100, which consists of the 100 largest companies listed on the London Stock Exchange. Researchers from People Managing People have employed artificial intelligence (AI) to create a composite image of the average CEO by combining profile pictures from LinkedIn.
The resulting image portrays a familiar-looking man named Andrew, representing the typical CEO. According to Finn Bartram, the Editor of People Managing People, this digital portrait emphasizes the privileges and gender disparities that exist within top-level positions in major companies in the UK. By utilizing Midjourney’s blend function, the researchers combined 100 photos in groups of five, repeatedly blending them until the final image, Andrew, was produced.
Unsurprisingly, the data demonstrates a significant gender bias in top corporate roles, with 88 out of the top 100 CEOs being men, leaving only 11 women in these positions. Shockingly, the research indicates that there are more male CEOs with names like Andrew or Simon than there are women occupying the highest positions in major firms. However, Mr. Bartram acknowledges that there has been an improvement compared to previous years, as the number of female CEOs in the FTSE100 has increased from five in 2020 to 11 now. Additionally, the research shows that only three CEOs in the FTSE100 did not attend university, including Simon Roberts of Sainsburys, who worked his way up from store management roles in M&S and Boots.
Despite this progress, female CEOs still face a disparity in earnings, earning an average of £3,371,000, which is 23.5% less than their male counterparts. Among the top CEOs, 66% received a private education, with Cambridge and Oxford being the most common choices for university degrees, accounting for 14% of all listed CEOs. The research also highlights the exorbitant salaries some CEOs receive, with the highest-paid CEO, Pascal Soriot of AstraZeneca, earning three times the average CEO’s salary with a staggering £15,323,000 per year.
The team behind this study hopes that these findings will prompt UK companies to address privilege and gender disparity within the workplace. Finn Bartram emphasizes the need for a multifaceted approach that includes equal opportunities, pay equity, mentorship, family-friendly policies, and transparency to truly tackle these issues. Kelly Manthey, CEO of tech consultancy Kin & Carta, echoes this sentiment, highlighting the importance of having role models who share experiences with underrepresented groups.
In a related report, management consultancy firm McKinsey predicts that physical jobs in predictable environments, such as machine operators and fast-food workers, are most likely to be replaced by robots. On the other hand, jobs in unpredictable environments, such as gardening, plumbing, and caregiving, are less likely to be automated due to their technical complexity and lower wages.
Overall, these insights shed light on the current state of corporate leadership in the UK, emphasizing the need for diversity and inclusion efforts at all levels of leadership to address privilege and gender disparities in the workplace.
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