Chief executives of AIM-listed companies received an average pay rise of 5.7% in the last financial year, according to research by Incomes Data Services (IDS).

Salaries of AIM CEOs have now broken the £200,000 barrier and bonuses and other incentives mean the average salary now totals £288,917.

“It seems tough economic conditions, lower profits and low wage inflation amongst the broader workforce has not stopped AIM CEOs’ pay reaching this milestone,” commented Steve Tatton, editor of the report.

However, bonuses for AIM directors fell from an average of £53,341 to £49,590, as more businesses missed their targets. The IDS suggested that the rise in base pay has made up for the decline in bonus payments. 

Finance directors received a pay increase of 5.4%, whereas all other directors saw an increase of 7.2%.

The average pay increase across the economy as a whole was just 1.6%, according to the IDS. Tatton added: “With shareholders looking over their shoulders, smaller company remuneration committees need to ensure they draw the right balance between all the various components that go to make up boardroom remuneration.”