Fat-cat pay attacks are beginning to sink in, according to a new survey.
Media and institutional pressure are shaming top bosses into reining in rises, according to Mercer Human Resource Consulting.
Pay increases for executive directors and senior executives have remained static from 2003, with bonus payments decreasing, it reveals.
The research studied the reward arrangements for 47 top management positions in 38 large UK companies, including FTSE 100 ones and other large multinationals.
It found that salary increases in 2004 had not changed from the previous year with a median salary increase of six per cent. Median bonuses were down - at 39 per cent of base pay from 49 per cent.
The report said that bonuses varied greatly from company to company and year to year. Where paid, bonuses for group chief executives ranged from eight per cent to a massive 140 per cent of salary. For senior chief executives, the range was greater, with bonuses coming in anywhere between 13 to 257 per cent.
However, the report noted that, after the first full financial year, following the introduction of 2002 Department of Trade and Industry guidance, consultation levels between companies, remuneration committees, shareholders and stakeholders had increased.
This was exemplified by the fact that in 2004 no FTSE 100 company had its remuneration report voted down, the report said.
European partner at Mercer, Richard Lamptey, said: "There is now more pressure to keep executive pay level increases in line with rises for other employees."