IT directors are Britain's new fat cats

Spiralling salaries and generous share options are turning the UK's top IT directors into millionaires.

High-flying IT directors are raking in six-figure sums as employers offer increasingly generous retention packages.

While workers in other professions are making do with pay rises of 3% or less, IT directors have seen their pay increase by nearly three times the rate of inflation.

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What could be Britain's first IT director millionaire was identified last week in a survey by IT recruitment specialist Harvey Nash.

The anonymous director, who works for a City firm, earned £1m last year after cashing in a long-term benefit package.

Bonuses and other perks are an increasingly important retention tool, the survey reveals (see table below).

About 90% of IT directors receive either a company car or a car allowance worth between £450 and £700 a month.

Although London remains the best location for high salaries (averaging £72,500), salaries are growing most rapidly in the South West and Wales, the survey reveals.

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Plus company cars worth £20,000-£30,000