Chief executives of FTSE 100 companies received on average almost £3.2 million ($6.4 million) last year, a 7.6 per cent increase on the previous year and more than twice the overall average pay settlement of 3.5 per cent. This means that average total earnings of a FTSE 100 chief executive have doubled over the past five years, according to the Directors Pay Report 2007 by employment research specialist IDS. According to IDS, which compiled its survey using the most recent corporate annual reports, the sharp rise in directors’ pay has been driven by a combination of increased cash bonuses and the rise of performance-based payouts. Annual bonus payments last year were worth about £786,000, more than FTSE 100 chiefs’ base salary, according to IDS. It said that, if salary and bonuses were combined, cash payments increased by 16.3 per cent for FTSE 100 directors. Average gains from share options for blue-chip bosses came in at just over £2 million for the 2007 financial year, IDS said.