Why executives are paid so much

Executive pay in the biggest companies is set by a remuneration committee of non-executive directors.  The remuneration committee votes on the chief executive's annual pay and bonus.  And the CEO sits on the committee that decides the non-executive pay levels and bonuses.  In effect they decide on each others' pay.  Cosy isn't it?

Read more here: http://www.bbc.co.uk/news/business-16932043