The rise took place in a year when on average associations' rent increases were 3.8 per cent following the requirement to limit rises to no more than the Retail Price Index (RPI) plus one or 4.7 per cent that year.
Chief executives' average pay rises also exceeded a 5 per cent increase in average earnings.
When compared with housing associations' annual turnover the survey showed several of the highest paid chief executives were paid significantly higher than the market rate.
Five of the 10 chief executives who earned more than £100,000 were paid at more than 20 per cent the market rate for the size of their association.
Unison housing association branch secretary Steve Wilkinson said: "It looks like Christmas has come early for housing association chief executives. If 7.4 per cent is the going rate for executives, we will consider this as a starting mark for the UNISON claim. The figure indicates more drastic measures than those proposed by the Housing Corporation are still a priority."
Corporation deputy chief executive Simon Dow said: "Housing Today's survey contains some interesting information. We will be looking at it more closely when we have all the data."
National Housing Federation assistant chief executive James Tickell said: "We must not jump to conclusions but some board members will have questions to ask themselves."
Source
Housing Today
No comments yet