Financial Times journalists are to receive bonuses of £5,600 this month after the publisher reported profits “well ahead of our business plan,” reports Bron Maher of Press Gazette.
Maher reports, “In his Wednesday email, Ridding said that every FT group employee would receive an 8% bonus on their salary ‘to be paid in December payroll in time for the holiday season.”
“However, in an email the following day, FT managing editor Tobias Buck said that editorial staff, regardless of salary, would all be paid £5,600, €6,512, $7,744 or HKD60,183, depending on the currency they are paid in.
“Press Gazette understands that this figure represents 8% of the average editorial salary at the FT, meaning the £5,600 sum disproportionately benefits lower-paid employees. The figure suggests that, across editorial staff, average FT salary is £70,000.
“Buck’s email also covered the conclusion of the paper’s 2022 pay deal negotiations with the National Union of Journalists.”
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