In the first three days of 2019 top bosses will have earned more than the typical worker will earn all year, according to a report.
The average pay of a FTSE 100 chief executive is £1,020 an hour, research from the High Pay Centre and HR industry body the CIPD has found.
By "Fat Cat Friday" bosses will have earned more than the typical annual UK salary of £29,574, the report said.
According to the report, the median pay including bonuses for a FTSE 100 chief executive was £3.926m in 2017, the most recent year for which data is available. It assumed that bosses work 12 hours a day for 320 days a year, making their hourly pay rate £1,020.
The CIPD report said typical pay for a FTSE 100 chief executive had risen 11% from last year. That means bosses had to work two hours less this year to match the average worker's annual salary, compared with 2018.
Luke Hildyard, Director of the High Pay Centre, explained, "Corporate boards are too willing to spend millions on top executives without any real justification, while the wider workforce is treated as a cost to be minimized"