It was the variable elements of pay - so-called long term incentive awards and deferred bonuses - that soared.

BBC: The myth of a shareholder spring

But in his world, which is not the world occupied by most people, it is the trimmings around the basic pay - the bonus scheme and the long-term incentive plan - that are the real and substantial remuneration meal.

BBC: RBS chairman gives up ?1.4m shares reward

Publicly listed companies would do well to start building incentive pay programs that better align executive pay with long-term shareholder interests.

FORBES: No Work and All Pay? Shareholders Will Have Their Say.