WHILE the rich still appear to be getting richer, a new study shows that the downturn in the economy means at least the rate of wealth growth may be slowing.

A study released today by professional services firm Deloitte into the salaries of executive directors, shows they rose on average by 6.2 per cent in the past year. While this is still well above Retail Price Index inflation, it is a fall from the 7 per cent average increases the executives were enjoying a year ago.

Deloitte's head of remuneration, Carol Arrowsmith, said the study was evidence that "we are starting to see the impact of a tougher economic climate on salary increases".

But the study also revealed a growing gulf between executives in the elite group of Britain's largest 30 companies and the remainder.

It showed that the average salary of a chief executive in the top 30 companies was well over GBP 1 million, compared with GBP 750,000 for the rest of the FTSE 100. Executive directors in the top 30 also have potential incentives worth a further four times their salary, compared with an incentive potential of only 2.75 times the salary in other FTSE 100 companies.

(c) 2008 Scotsman, The. Provided by ProQuest LLC. All rights Reserved.