FTSE 100 bosses will earn the average British worker’s annual wage by noon today — the third working day of the year.

The High Pay Centre’s Fat Cat Day analysis is based on the latest CEO pay disclosures in annual company reports and government data on workers’ pay.

Median FTSE 100 CEO pay, excluding pensions, is a whopping £4.4 million, the think tank found.

This is 113 times the median full-time worker’s pay of £39,039, with the ratio unchanged since last year.

High Pay Centre interim director Andrew Speke said: “The figures out today once again emphasise the huge gulf in how the work of most people is valued compared to a small number of feted executives. 

“The idea that executives, as a class, are individually contributing over 100 times more in value than the workers they rely on is simply not credible. 

“The government’s Employment Rights Bill could have a positive impact on reducing the inequality of pay and worker voice in the UK economy, but it must be accompanied by bolder corporate governance reform, including democratic worker representation on all major company boards. 

“We are also calling for companies that pay excessive sums to their highest earners to be taxed more, with the proceeds invested in education, helping to tackle deep-rooted inequalities and improve social mobility.” 

The analysis found partners at Magic Circle law firms earn the average annual wage by January 8.

Material risk takers at FTSE 100 banks do so on January 16, while partners at Big Four accountancy firms take four days longer.

TUC general secretary Paul Nowak said: “Every working person helps create Britain’s wealth. 

“But while millions of low and middle-income workers are still struggling with the cost of living, those at the very top keep helping themselves to a huge slice of the pie. 

“Labour’s Employment Rights Act will bring in sensible reforms to improve working lives for millions of people. 

“But we also need a dose of common sense when it comes to corporate excess. 

“The government must act to rein in boardroom greed — including by guaranteeing workers a seat on executive pay committees.” 

A Government spokesperson said: “While directors’ pay is a matter for companies, UK law gives shareholders the tools to ensure that pay matches performance.”

They did not address the TUC call for guaranteeing workers a seat in executive pay committees.