For the last couple of years I have tracked the number of people employed by Transport for London (TfL) who earn £50K or more. In an idle moment yesterday I came across TfL’s draft Annual Report and Accounts, more on this later. You need to scroll down to page 35 of the report to see the table of employees’ remuneration.
This year has seen the total who earn more than £50K leap from 1,411 to 1,954, a jump 543 people or 38%. To be fair some part of this jump must be down to TfL’s takeover of Metronet. It is still pretty eye-watering that TfL employ the best part of 2,000 who earn over £50K.
The upper echelon of £100K plus earners has increased at a good rate too but not at the rate of the £50K plus group. Maybe Metronet didn’t have that many high flyers. Either that or TfL binned them. Last year’s number of 112 has jumped 10% to 123. With 123 bloody geniuses working for them you might think they could stop the bus strikes.
If you go back to 2002 TfL (Corporation) employed 59 people who earned over £50K. Today the comparable number is 611, or 10 times bigger. Has this recent explosion of high earners delivered the kind of service we all want?