Magazine

What is Fat Cat Wednesday and why is everyone so riled up about it?

What is Fat Cat Wednesday and why is everyone so riled up about it?

Happy Fat Cat Wednesday! No, unfortunately this isn’t a special day to celebrate the chubbier felines out there, instead its meaning is much more distasteful.

Today has been dubbed Fat Cat Wednesday because new figures have shown that top bosses have already made more money than the typical worker will earn all year.

OK, prepare yourself for the depressing facts. The High Pay Centre has said that executives will pass the average salary of £28,200 by midday. Yikes.

Cat GIF – Find & Share on GIPHY

The median pay for a chief executive in a FTSE 100 company was almost £4 million in 2015, or £1,000 an hour, compared to the national living wage of £7.20, said the report. The figure makes the “generous assumption” that top bosses work 12 hours a day, most weekends and take fewer than 10 days holiday a year.

This means that the High Pay Centre estimated it would take around 28 hours of work to pass the UK average wage.

And as you can imagine, people are pretty angry about Fat Cat Wednesday, seeing it as a stark indicator of the inequality that is rife in Britain. Or inequali-kitty if you will pardon the pun.

But there are a lot of people out there just plain disappointed that Fat Cat Wednesday doesn’t mean what they’d hoped it would.

Despite the widespread outrage over the day, there are some who don’t see any problem.

That may be so, but excuse us while we scroll through more pictures of comically large kitties to avoid having to face up with the reality of the day.

Magazine