Advertising

M&C Saatchi directors’ pay soars despite advertising downturn

(GUARDIAN) - The directors of advertising agency M&C Saatchi, including co-founder Maurice Saatchi, received a total remuneration package of more than £1.8m and recession-defying pay rises of 15% last year.

M&C Saatchi, which posted pre-tax losses of 27% in 2009, scrapped bonuses last year – each executive director had received £35,000 in 2008.

However despite the advertising slump nearly all directors received a bump in basic salary of between £38,000 and £43,000 in 2009.

The top-paid director at the agency, which worked on the Conservatives’ election campaign, was co-founder Maurice Saatchi, who was paid a total remuneration package of £390,000. Saatchi’s basic salary rose from £288,000 to £331,000.

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