British American Tobacco, SAB Miller and Unilever are among the top 10 FTSE 100 companies with the largest pay gaps.
"While Government figures confirm that wages for ordinary workers keep falling, it's clear that not everyone is feeling the pain," High Pay Centre Director Deborah Hargreaves, said in a press release.
"When bosses make hundreds of times as much money as the rest of the workforce, it creates a deep sense of unfairness."
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The report comes amid a fierce debate over inequality and CEO pay. The U.K government has brought in measures in an attempt to curb executive pay such as forcing companies to report a single figure on how much the CEO earns in an attempt to be transparent. Shareholders have also been given a binding vote on directors' remuneration packages.
The High Pay Centre found the CEO pay figures from the companies' financial reports, while average worker earnings at the FTSE 100 firms were provided by Pensions and Investment Research Consultants (PIRC).
The pay gap ratios are calculated by taking account of the salary of CEOs and employees at FTSE 100 companies only. If the chief executives' pay packet was compared with the whole of the country it would be 174 times the average U.K. worker.
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"Britain's executives haven't got so much better over the past two decades. The only reason why their pay has increased so rapidly compared to their employees is that they are able to get away with it," Hargreaves added.
- By CNBC's Arjun Kharpal