Pay rises for executive directors of UK companies slowed last year although the 6.2 per cent average increase still substantially outpaced inflation and ordinary wages, according to Deloitte’s annual executive compensation study, published on Monday.

Basic salaries for the top full-time executive, usually the chief executive, grew 6.1 per cent, year-on-year, compared to last year’s 6.4 per cent increase, according to the study, which looked at all FTSE 350 companies except investment trusts.